The Offer and Acceptance form

3 Essential Things Buyers Forget to Include on the Offer and Acceptance

When buyers make an offer on a property, they must fill out an Offer and Acceptance form. The O&A determines all the specifics of the sale – the sale price, the parties involved, and any special conditions – so it’s important to get it right. But not everyone does, and when a vital detail is …


Piggy Bank

Case Study: Buyer Refinance Causes Expensive Delays In Settlement

Agents can help avoid expensive delays in settlement by clarifying the intentions of their buyers in relation to finance prior to submitting an offer to the seller. During the course of a recent settlement, the buyers decided to shop around for the best finance deal as part of the finance approval process. After finding out …


An image of houses and money burning

New Identity Fraud Tactic by Nigerian Scammers

Remember the infamous Nigerian property scams of 2010 and 2011? In two separate cases of identity fraud, two homes were sold by overseas sellers posing as the owners. The enormity of the scam – which involved providing fake identification and requesting the proceeds be transferred to a Chinese bank account – and the extent of …


A map showing the difference between Edinburgh and London

How overseas sellers are impacted by identity checks

A fiasco during a recent settlement has revealed some major considerations for dealing with new identity checks. Since the infamous Nigerian property scams in 2010 and 2011, extra measures to check the identity of sellers have been put in place by Landgate – including the requirement to present 100 points of identification (update: As of …


Builders looking at plans

Stop blaming the market and start creating sales right now

When sales are slow it’s easy to blame the market. Interest rates, discounters, government regulations. Once they’ve been sorted out the market will be ok. The HIA wants to blame the market. So does Gerry Harvey and his big retailer friends. Faced with sluggish sales they place their industries woes squarely at the feet of …


Destroy utility bills before disposing of them

75% of Australians Putting Themselves at Risk of Identity Fraud

As the Perth Nigerian house scam demonstrates the best defence against identity is constant vigilance. But it seems Australians aren’t getting the message. In a recent Newspoll survey an alarming 75% of Australians regularly throw away highly sensitive information without shredding or disposing of them safely. These include utility bills, bank statements, expired credit cards …


5 government agencies launch scam investigation

Intensive joint investigation into real estate scams

Five government agencies have launched a joint investigation into recent real estate scams to determine if extra protections are necessary to prevent identity theft in the buying and selling of property and the land titles system in Western Australia. The Commercial Crime Division of WA Police, Consumer Protection, Landgate, the Real Estate and Business Agents Supervisory Board (REBA) …


Scam Alert

SASB Issue Updated Property Scam Warning

This updated advisory has just come through from the Settlement Agents’ Supervisory Board and is a timely warning for both real estate and settlement agents. Recent events have prompted a further scam alert being issued by the Chairwoman of the Settlement Agents Supervisory Board (the Board), Ms Mirina Muir. Ms Muir advised that following on from …