Queensland property buyers to benefit from paperwork reforms
Posted on Tuesday, October 23 2012 at 3:31 PM
Property buyers in Queensland will benefit from changes to the Property and Motor Dealers Act (PAMDA), according to the State Government.
Attorney-General
Jarrod Bleijie says the Act will be simplified and split, to make buying and
selling property much easier.
“Consumers are
often overwhelmed by pages of paperwork, so they just sign on the dotted line
without reading the fine print, which can be dangerous,” Bleijie says.
“These changes
will simplify the process for consumers, while ensuring their rights are
protected and also make life easier for industry.”
The reforms
involve splitting the PAMDA into four separate Acts, to better reflect and
represent each of the sectors, according to the Real Estate Institute of
Queensland (REIQ).
REIQ chairman
Pamela Bennett has welcomed the changes and says the REIQ has campaigned for
such changes for many years.
“The
simplification of the legislation will not only make life easier for all those
who work in the real estate profession, but will also provide significant
benefits to consumers during the buying and selling process,” she says.
Bleijie adds the
PAMDA warning statement will also be written into the contract of sale in
future, removing unnecessary duplication from the buying process.
Follow us on Twitter.
Was this article helpful? Place a link to it from your website, or share it using the button below.
Recent articles:
Queensland property buyers to benefit from paperwork reforms
76% of Australians expect property prices to rise or stay steady
Perth rents on the rise
Negative equity doesn’t mean mortgage stress
Property industry is cautiously optimistic about the future
Apartment floor space shrinks to capture investors
Leave a comment
Comments
Article source: http://feedproxy.google.com/~r/API_Property_News/~3/J4MLiVwZzRo/queensland-property-buyers-to-benefit-from-paperwork-reforms