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Posted on 31 May 2016

Withholding Tax on Real Estate

The Federal Government has introduced legislation that will significantly affect vendors of property valued at $750,000 or more. The aim of the legislation is to prevent foreign residents from avoiding Australian capital gains tax….

Posted on 18 May 2016

Cooling Off Notices Cannot Be Accepted By Real Estate Agents

A purchaser has a right to terminate a contract of sale within 3 business days after signing a contract of sale. This right is commonly referred to as the ‘cooling off right’. The cooling…

Posted on 29 Feb 2016

Verification of Identity

From 9 November 2015, we must comply with new verification of identity requirements before any paper instruments or dealings can be lodged at Land Victoria for registration and before we can hand you any…

Posted on 29 Feb 2016

Purchasing a new home, “buyer beware”

and the importance of building and pest inspections For most Australians, purchasing a residential property to live in or as an investment is one of the largest financial outlays that they will make in…

Posted on 4 Jun 2015

Are electronic signatures valid?

A contract of sale of land must be in writing and signed by the parties. These requirements were principally designed to reduce fraud as it prevents one party to the transaction claiming or denying…

Posted on 1 Apr 2015

Deposits on Purchase of Real Estate

An increasing issue confronting purchasers is a lack of understanding or their contractual obligations regarding the payment of the deposit and the possible consequences of a failure to meet those obligations. The standard Contract…

Posted on 4 Mar 2015

Fencing Laws in Victoria

The Fencing Act 1968 (Act) has been amended by the Fences Amendment Act 2014 (Amendment Act) which commenced on 22 September 2014. The Amendment Act aims to facilitate fairer dealings between neighbours over shared dividing fences and…

Posted on 4 Dec 2014

Caveats

What is a caveat and how does it work? The word caveat derives from Latin and means ‘beware’. A caveat maybe lodged over the title to a property and acts as a warning to…

Posted on 4 Sep 2014

Changes to the Sale of Land Act 1963 (Vic)

As many Real Estate Agents may be aware, from 1 October 2014 changes to section 32 of the Sale of Land Act 1962 (Vic) (Act) will come into effect. Under the new section 32 statement requirements,…

Posted on 4 Aug 2014

Mortgages – Power of Sale

A mortgage creates a security interest in land in favour of the mortgagee (lending institution e.g. Commonwealth Bank of Australia, Westpac Banking Corporation and National Australia Bank). The mortgagee does not become the owner…