Why does the QLD Department of Fair Trading and the REIQ Contract of Sale recommend “Independent Valuation Advice”?
Many investors and purchasers in the past have lost significantly through ill-informed property decisions. When buying a home or investment property it is easy to lose sight of the true market worth of the property. Property features such as flawless condition and presentation, the prospect of “potential”, special contract kickbacks, rebates, free holidays, lunches and other specialist marketing techniques, can unconsciously affect your decision making skills. Remember the real estate agent acts for the seller. They are paid by the seller and have a vested interest in trying to sell the property for the best price. Of course this may not be immediately apparent. Finance brokers, planners and other advisors may be acting on commission based strategies whereby you may be indirectly coerced into making rushed property investment decisions. They too also have a vested interest by way of commission trails etc to sign you up to their loans. The finance clause in the contract of sale may offe
