Encyclopaedia

Extraneous Tasks

It is important to differentiate between conveyancing tasks and extraneous tasks, as there can be serious implications for both the lawyer and the client in terms of costs and liability if the distinction is not maintained.

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Legal Action

The first advice to be offered to anyone considering taking legal action against someone else is 'DON'T DO IT!'. Going to court should always be a last resort.

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The Valuer

While consumers are used to commission estate agents "valuing" real estate, the fact is that commission estate agents are not qualified to perform this role.

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Unfair Real Estate Fees

In his book Real Estate Without Agents, (Rowley Publications, Sydney 2004 at p.7) respected author and real estate journalist Terry Ryder calculates commission estate agent commissions as being equivalent to an hourly rate of $675!

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Transparency In Real Estate

It is a sad fact of the current real estate industry that it is built on secrecy, and requires secrecy in order to function. Among the best kept secrets in real estate are the following...

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Retirement Villages

While most people understand the term "Retirement Village" as meaning a form of unit accommodation, it often comes as a surprise to find that there are different ways of "owning" or "occupying" a retirement unit.

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Professional Indemnity Insurance

Professional indemnity insurance is held by a professional person to ensure that any claims of professional negligence made against the professional person can be met. To put it another way, there is not much point in suing a professional person if they do not have enough money to pay for your loss - so professional indemnity insurance comes in to cover the cost.

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Penalty Interest

Condition 4 of Table A, Schedule 7 of the Transfer of Land Act provides for the payment of penalty interest if either party delays the payment of money. The most common form of delay is the postponement of settlement.

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