Mudgee Real Estate Buyers Beware!

If you’re considering purchasing real estate in Mudgee, make sure you read this first!  With a financial services company recently hitting the headlines for overvaluing housing under the guise of “independent financial advice”, and a series of companies pushing second-rate products to unsuspecting investors, we though it appropriate to let you all know exactly what you need to be looking out for in order to avoid the traps of property scammers.

  • Any company pledging to offer financial advice in Australia must have an Australian Financial Services License and disclose their remuneration including any commissions they make off referrals by way of a Financial Services Guide.
  • Buying property though a Self Managed Super Fund can be a great way of accumulating wealth if done properly.  Unfortunately, many people are not seeking professional financial advice to ensure their fund is compliant, and are subsequently left paying the penalty when they get it wrong.
  • When you are buying a house, make sure you go through a real estate agent who respects your opinions and needs.  Do not buy from an agent who tries to pressure you into buying a property; the decision to buy should always be yours, and should always be one you feel good about.
  • When you’re considering purchasing an investment property, your real estate agent needs to tell you why they are recommending a specific house to you; is the property promising a better return, or lack of risk?
  • Real estate agents are required to disclose any third-party commissions they will make from the sale.  Be sure to request this if it is not made clear, so that you have a complete understanding of referral fees they may be getting from external parties.

If you are looking for a Mudgee house to purchase, and would like to discuss your needs with a professional, please visit our Professionals Mudgee Real Estate office.  Our Professionals team will be happy to educate you about our local market, and help you make the right choice for you.

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