Author Archives for Peter Mericka

Conveyancing Legal Advice

November 8, 2013 2:13 pm Published by Comments Off on Conveyancing Legal Advice The giving of good legal advice involves the obtaining of an understanding of what the client wants to achieve, the checking of relevant documents, having a sound understanding of relevant principles of law or researching finer points of law, and then explaining to the client what options are available.

Introduced to the Property

November 8, 2013 2:02 pm Published by Comments Off on Introduced to the Property The term "introduced" is used by the real estate agent to determine the point at which the vendor becomes liable to pay the commission.

Fidelity Insurance

November 8, 2013 1:56 pm Published by Comments Off on Fidelity Insurance Fidelity insurance protects the clients of professionals against theft or misappropriation of funds by the professional person or an employee while the client's funds are under the control of the professional person.

Exclusive Sale Authority

November 8, 2013 1:51 pm Published by Comments Off on Exclusive Sale Authority This insidious document is the means by which an estate agent is able to exclusively secure the Vendor, the property being sold, and all potential purchasers who enquire about the property for a set period of time.

Escorted Inspections

November 8, 2013 1:49 pm Published by Comments Off on Escorted Inspections Escorted inspections are little more than a control device used by commission estate agents. They serve no genuine purpose, they separate the vendor and the purchaser, and they add to the expense of real estate sales.

Criminal Deception in Real Estate

November 8, 2013 1:35 pm Published by Comments Off on Criminal Deception in Real Estate Real estate agents in Victoria are often unaware that practices regarded as "standard" in the real estate industry are, in fact, serious criminal offences.

Current Market Value

November 8, 2013 1:25 pm Published by Comments Off on 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.

Conveyancing Kit

November 8, 2013 1:20 pm Published by Comments Off on 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.

Contract Note

November 8, 2013 1:10 pm Published by Comments Off on 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.