THE PROPERTY NERDS: SMSF property mistakes investors can’t afford to make

The experts start by sharing insights into the legal complexities of property transactions, especially when using self-managed super funds (SMSFs).

Joseph stresses the need to correctly set up a bare trust deed for SMSF purchases to avoid serious legal issues from signing under the wrong entity, highlighting the risks of signing contracts without legal advice, as many buyers underestimate the binding nature of sale agreements.

The episode also covers the often overlooked need for independent legal advice on loan documents and explores how varying state regulations, stricter in NSW and Victoria than in flexible Queensland, impact buyer protection through differences in cooling-off periods and contract conditions.

The conversation closes with a discussion on the challenges of creating a unified property contract system in Australia, and emphasises the importance of legal expertise in successful property investing.

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