Property Spruikers Lined Up

About time our authorities did the same here rather than take the leads from our Aussie cousins.

My team and I are frequently asked to clean up the mess that some investors have got themselves into by believing  these “get-rich-quick” merchants.

The old adage that if it’s “too good to be true” means it’s  not for real and could cost you a bomb.

Property spruikers under investigation by state governments amid rent-to-buy and vendor finance deal concerns
Amy Bainbridge

25 Feb 2014

Amid increasing concerns about property spruikers, state and territory governments are gathering information on 15 property dealers Australia-wide.

Victorian Consumer Affairs Minister Heidi Victoria says there are concerns about property spruikers, and those educated at their seminars who then go on to operate the rent-to-buy and vendor finance deals.

The two approaches are similar, but involve different paperwork.

Rent-to-buy puts a tenant into a rental contract with an option to buy the home after a set period of time.

Vendor finance includes a contract of sale with a delayed settlement, as the person lives in the property and pays for it in instalments.

Link

http://www.abc.net.au/news/2014-02-24/wa-lead-charge-on-property-spruikers/5280420

 

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