Forum Replies Created
You should treat buying from any seminar company the same as buying direct. Do your own homework and don’t just believe what you are told by the salesman.
Don’t sign anything on the day, especially if pressured to, request to use your own lawyer and own source of finance.
That way you can find out if the property is realisticly priced etc.The message that shows such as 60 minutes need to ram home to protect people who don’t know any better include:
* Don’t sign anything on the day you inspect a property tied to a seminar.
* Insist on using your own lawyer
* Use your own mortgage broker or bank, not the one recommended (usually part-owned) by the seminar people.
Like anything there have not been many complaints when people have been buying at inflated prices on a rising market.
However, now the IP market has flattened and in some areas declined people are crying poor because they now realise that their lack of homework allowed them to be sucked in about the actual value of the property they invested in.
A big issue in the near future will be the many people who purchased units off the plan who will struggle to obtain finance when the properties are completed.
