Do You Know Your Legal Rights and Responsibilities Regarding Australian Real Estate?

Australian real estate legal issuesWelcome to Real Estate Colum. We strive to provide helpful information here to people interested in the real estate industry in Australia. Over the next few posts we’re going to explore some legal issues regarding the field of real estate. Bear in mind that this isn’t a legal website and you should always seek your own legal counsel in case of rules, regulations, or specific issues where you live or regarding the specific type of property you’re buying or selling. But here are a few helpful real estate tips from a legal perspective for you.

Know Your Rights and Your Obligations: Familiarise yourself with your rights and responsibilities so you don’t end up with regret, financial losses, and so you don’t wind up in legal hot water. This is important when buying and when selling a home. Legal guidelines are in place to protect everyone. If something doesn’t seem right, check it out. If something seems okay, check it out anyway!

New Homebuyer Tips: Some people take first time homebuyer courses or workshops to get up to speed on information. This can be especially helpful in assisting you with navigating the mountain of paperwork and legalities surrounding buying your home. Sometimes real estate agent offices hold these seminars. They are often doing it, partially, in an effort to build a relationship with you so that you’ll use their services but they are governed by Australian laws that are designed to ensure that people are not subjected to scams in the real estate industry. Don’t be afraid to ask questions.

Resources that could help buyers and sellers include include:
• Your real estate agent. He or she is trained to know the industry and has access to resources that can help you find out information.
• A legal attorney. Sometimes, real estate lawyers are the best equipped to advise on an unusual situation. That’s why it’s always important to have a lawyer involved in helping you close a real estate transaction. Legal documents to protect both parties are vital. Some attorneys offer discounted packages to help people have their home transactions managed.
http://www.reia.com.au/. This is the Real Estate Institute of Australia’s site and it provides a wealth of information on various issues.
http://www.commerce.wa.gov.au/consumerProtection/Content/Licences/Real_Estate_Industry/Real_Estate_Industry.html This site provides rules and regulations regarding Western Australia. Similar resources exist for other parts of the country.

Tip: Know who you’re working with!
Always make sure you’re working with reputable professionals. Don’t hesitate to research their name to ensure they have a good reputation in the industry.

We hope you’ll come back and visit us again. Feel free to subscribe and get updates delivered to you.We plan to continue to try to cover many helpful real estate topics in an effort to help you be informed so you can make the right decisions for your situation.

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