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Savings for both money and time should be realised when buying/selling property as a result of new changes to the Property and Motor Dealers Act.
Queensland residents are set to find the transaction process greatly simplified, according to attorney-general Jarrod Bleijie.
“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,” Mr Bleijie announced at the Real Estate Institute of Queensland’s AGM yesterday.
“Queensland has had a reputation for strangling business with red tape and that has taken its toll on our economy,” he said.
“Industry told us that the process confused consumers and cost buyers and sellers money.”
One of these changes is included the PAMDA warning statement into the contract itself.