Fees create confusion for homebuyers

SELLING a home can be an expensive exercise and the national real estate industry body is urging caution, with laws and fees differing from state to state and likely to cause confusion among some consumers and investors.

Real Estate Institute of Australia president David Airey says conveyancing fees are regulated in some states, while in others selling commissions are monitored and lawyers are required to prepare contracts.

"These things are gradually becoming more nationalised and the sooner they do the better, because consumers moving from state to state won't be faced with such a minefield of different legislation and charges, which can make buying and selling quite confusing,'' Mr Airey says.

"Across eight states and territories we have eight separate purchase types and contracts and eight different consumer regulators. It's a crazy system.''



Read more: http://www.news.com.au/money/property/fees-create-confusion-for-homebuyers/story-e6frfmd0-1225896898018#ixzz0upzuzJjI

 

Posted on 27/07/2010 by

Post your comment

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments