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Hi !FirstName,
Late last year the Minister for Fair Trading, Anthony Roberts, announced the release of new real estate fraud prevention guidelines to combat an increase in identity fraud and scams occurring in the industry.
Click here to view the statement from the Minister
Forming part of the guidelines is a 'Proof of Identity Checklist' which is designed to assist Real Estate Agents in confirming the identity of vendors or their representatives. Real Estate Agents are encouraged to use the checklist as part of their sales procedures.
To assist our Clients, ADL has added the 'Proof of Identity Checklist' to its Property Sales package in NSW.
Click here to view NSW Fair Trading's Fraud Prevention Guidelines
1. In 2011 ADL added a 'Landlord Disclosure to Prospective Tenants' Item into the residential Managing and Leasing Agency Agreements to allow the Owner of leased Premises to disclose any material facts, as prescribed in Clause 7 of the Residential Tenancies Regulation 2010, in respect of the premises.
This information could then be used by the appointed Agent when dealing with the Tenant as well as assisting the Agent to comply with its obligations under Section 52 of the Property Stock & Business Agents Act 2002 (Act).
The introduction of this disclosure provision in the Managing and Leasing Agency Agreements has led to Agents requesting a similar disclosure for property sales transactions.
In consultation with Real Coach and Real Estate Dynamics we have developed a 'Relevant & Material Facts Disclosure' for Selling Agents.
This Disclosure follows a similar layout to the one contained in the Managing and Leasing Agency Agreements except that it is a separate form included in our Sales Package.
If you decide to take advantage of the new Disclosure form, you should use it as an annexure to the Selling Agency Agreement.
The content of the 'Relevant & Material Facts Disclosure' was developed based on the Misrepresentation Guidelines as published by NSW Fair Trading in July 2008 to assist Agents in relation to complying with Section 52 of the Act.
The 'Relevant & Material Facts Disclosure' annexure has been released into ADLForms and is ready for use .
2. The following forms are now ready for use in ADLForms thanks to valuable customer feedback.
New Forms:
- Absent/Telephone Bidder Authority
- Confirmation of Receipt of Documents
- Annexure - Relevant & Material Facts Disclosure
- Proof of Identity Checklist
To view the changes made to the forms click on the 'Forms Change History' link in ADLForms (or click here).
Got a form suggestion? We welcome client feedback and form suggestions, so give us a call today (or email us at admin@adlsoftware.com)!
Click on the link below to:
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