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This is a legal term that relates to a contract for sale offer by a buyer that becomes legally binding. For example the sale of the buyer's property has been sold and the buyer has secured finance - and the only remaining requirement is to wait for settlement date. At this point there is no turning back and the sale is binding on both parties.
REIT members' experience and knowledge of their local lmarket, combined with their exclusive access to research, enables them to make an accurate and authoritative appraisal of your property.
Appraisals, Auctions, Buying, Market Appraisals, Rentals
Accredited, Delivery, Guaranteed, Leasing, Licensed Real Estate Agent, Registered
Commercial, Industrial, Residential
Sandy Bay, South Hobart, Certificate 3 property services, North Hobart, Property management, Property investing, Training to become real estate agent, Hobart, Land, Propfessional development, property services, Certificate 4 property services, Selling property, Trainineeships, Class based courses, West Hobart, Buying property, Rent
The two pieces of legislation that covers the real estate industry in Tasmania are the Property Agents and Land Transactions Act (2005) and the Residential Tenancy Amendment Bill (2005). A copy of this legislation can be accessed by going to www.thelaw.tas.gov.au.
This is a federal government of Australia initiative which is designed to assist first home owners to purchase their first home. Information on how the scheme works and how people may apply should go to the Department of Treasury and Finance.
Yes. They are required to complete a level of education as decreed by the Property Agents Board
Yes. The Property Agents and Land Transactions Act (2005) make reference to an industry code of conduct which is determined under regulations by the Property Agents Board. The REIT also has their own member's code of practice which is in addition to the legislative requirement.
The level of commission that is charged by a real estate agent to the vendor for the sale of their property is negotiable, but the REIT does have a scale of commissions which can be used purely as a guide.
Currently in Tasmania legislation does not provide a mandatory cooling off period when making an offer to purchase property. Purchasers in particular from interstate should seek their own professional advice before signing a contract to purchase property.
The REIT provides forms which are reviewed regularly to ensure compliance with legislative requirements. Is your agent committed to extending their education and skills training? With over 150 courses and workshops offered annually, covering the different areas of real estate practice, REIT members have access to an extensive range of professional development opportunities to enhance their skills and customer service.
As a further element of protection, REIT members are required to take out professional indemnity insurance. You have the important safeguard of being represented by an estate agent with professional indemnity insurance cover.
The REIT has an internet site at www.reit.com.au which includes a directory of REIT agents in any location, with details of expertise relevant to your needs. The majority of REIT members also have their own dedicated websites providing information on their products and services.
REIT members' experience and knowledge of their local lmarket, combined with their exclusive access to research, enables them to make an accurate and authoritative appraisal of your property.
