Conveyancing

Current Market Value

The current market value of a property is determined according the following standard: The price at which a willing but not anxious vendor would sell, and at which a willing but not anxious purchaser would buy.

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Conveyancing Kit

Conveyancing kits are not really a cheaper option. In their promotional material, conveyancing kit-writers don't emphasise that those who use the kit will still have to pay for rate and planning certificates, title searches, postage, transport to settlement, etc.

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Contract Note

Most commission estate agents use and prefer the Contract Note over any other form of contract. This is because the Contract Note allows the commission estate agent to take control of the sale closure.

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Commission

Commission is the way in which the commission estate agent is paid, and is probably the most unfair and unethical form of payment imaginable. Real estate commissions have been described as a form of "wealth tax" levied by commission estate agents.

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Certificate of Title

If you wanted to identify a particular block of land, you would find out its volume and folio number, and use these numbers to look up the relevant page. To find out who owns the land, you would simply turn over the page, and see whose name was last added to the page. This person is the owner.

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Certificate of Occupancy

As the name implies, the Certificate of Occupancy certifies that a home can be lived in. It is a requirement of most local government or shire councils that an occupancy certificate be issued prior to the purchaser of a home taking occupation.

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Caveat

A caveat is a means by which a Certificate of Title at the Land Titles Office can be 'tagged' to show that someone has an interest in the property. Every purchaser of real estate is advised to lodge a caveat.

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Buyer’s Agents – A Critique

Desperate times call for desperate measures. In the following article the REIV’s CEO Mr. Enzo Raimondo suggests that consumers are best served, not by their own legal advisers, but by commission estate agents who charge high fees for a service of dubious value. We have examined Mr. Raimondo’s article on buyer’s advocates, and have provided some balance by way of a comprehensive critique. The Article Our Critique The Article The following article was written by...

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