Home buyers to benefit from PAMDA reforms

Home buyers to benefit from PAMDA reforms from Geoff Grover  - Mount Coolum Real Estate

By: Geoff Grover - Mount Coolum Real Estate  24-Oct-2012
Keywords: Coolum Beach Property

Queenslanders will save time and money when buying or selling a property after the Government announced changes to the Property and Motor Dealers Act. Attorney-General Jarrod Bleijie said the Act would be simplified and split to make buying and selling property and cars easier for consumers. “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 said. “These changes will simplify the process for consumers, while ensuring their rights are protected, and also make life easier for industry. “This fulfils one of our election commitments, incorporating the PAMDA warning statement into the contract, removing unnecessary duplication from the buying process. “Industry told us that the process confused consumers and cost buyers and sellers money. “Discussions about these changes have been going on for years, but previous attempts to fix the problem have failed. “Labor was intent on creating red tape and the Newman Government will get rid of it.” Mr Bleijie made the announcement at today’s Real Estate Institute of Queensland AGM. He said the split had been strongly backed by industry representatives, who have long held concerns about the confusion surrounding the current legislation. “This will streamline and simplify the legislative provisions and consolidate some of the licensing categories,” he said. “Currently, there are nine licence categories for property agents, but under the split there will be just three with pastoral house licences incorporated into real estate agent licenses.” Mr Bleijie said the split would also incorporate a red tape reduction review, which would ensure the new laws are not only modernised, but also reduced the regulatory burden. Draft bills would be issued in the coming weeks for public consultation. “Queensland has had a reputation for strangling business with red tape and that has taken its toll on our economy,” he said. “The Newman Government is sending a clear message that the state is open for business

Keywords: Coolum Beach Property

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