In light of new research, freely available information has now been provided online for those looking to buy and sell a property.
Research from Consumer Affairs Victoria has indicated that one in four Victorian buyers are currently unsure about their legal rights and the steps involved when buying and selling a property, prompting information to be produced to clear up the confusion.
Victorian buyers unsure about these elements of investing can now make use of free online video resources and guides from the Consumer Affairs Victoria website.
These resources “can help homebuyers and sellers cut through the confusion and avoid expensive mistakes,” the government body said in their latest newsletter. They are especially helpful for new investors or those looking to refresh their knowledge of the property transaction process.
The guides include sections from ‘Planning to buy property’ and ‘Research types of property to buy’ to ‘Buying property by private sale’ and ‘Understanding property prices’. These aim to assist investors and buyers in gaining a greater understanding of the purchasing process.
There are also guides for ‘Selling property’, ‘Compensation claims’ and for ‘Property data’, as well as helpful checklists and definitions. The Property Data guide also lists the different providers and types of information available online.
The videos provide viewers with basic tips, with one identifying, “You should negotiate sales commission and marketing costs and be clear about the agreed amount before you sign with an agent.”
Videos and guides of a similar nature are also available from Fair Trading NSW, where details about buying off-the-plan are also included.