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REIV publishes property sales a...

REIV publishes property sales advice

REIV publishes advice on negotiating a private property sale.

The Real Estate Institute of Victoria (REIV) has published advice on how buyers can negotiate a sale on a private property.

Among the points it makes is that a seller has the right to reject an offer or to wait before accepting it, which could lead to negotiations. It added that while a real estate agent acts as a go between for buyers and sellers, in Australia they work with the interests of the seller in mind.

Buyers were reminded to put in a written copy of their offer that is due to be accepted by a particular date and time. Should the seller sign the offer, it then becomes a legally binding contact.

REIV has turned attention to private sales as it says auction volumes will be on the decline during winter months, as is traditionally the case.

Nevertheless, consumer interest remains high, as the clearance rate for Victoria reached 76 per cent last weekend.

Posted by Ravin Chatlani

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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