QLD government to ease the property buying process
There are several factors to take into consideration when buying a house such as securing finance, paying compulsory taxes and filing the required paperwork.
This sometimes complicated process can be daunting for prospective homebuyers, but for Queensland purchasers, property transactions could be set to become easier.
State attorney-general Jarrod Bleijie said today's (February 11) release of proposed legislation changes would cut unnecessary red tape and streamline existing property agent and motor dealer laws - simplifying the home buying process as a result.
He commented: "The existing Property Agents and Motor Dealers Act 2000 (PAMDA) is a cumbersome law covering more than 23 licence and registration classes across seven industries.
"Our goal with this review is to deliver positive red tape reduction reforms that support industry growth, but also maintain a high level of protection for consumers."
Mr Bleijie went on to say that an overload of paperwork often resulted in consumers signing legally binding contracts without having read the fine print, which can be potentially dangerous.
The proposed changes will simplify the buying process by incorporating the PAMDA warning statement into the contract, as well as reduce the regulatory burden on businesses.