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Blitz Formal Dresses Formal Dresses Australia on illegal home sales Charges were laid in the lower hutt district court before christmas against petone company home buyers and its director francisca forster.The first hearing is due in four weeks.Section 141 of the real estate agents act 2008 says it is an offence to carry on the business of a real estate agent without being licensed.The real estate industry watchdog has said there is an issue around how traders who offer investment properties to mumanddad investors fit within the legislation.The variety of schemes broadly fall into two categories finders, who aim to buy and sell a property within days under what is called a contemporaneous settlement, and traders, A line Wedding Gowns who take possession of an investment property then onsell it, often with a guaranteed rental income stream.One of the most highprofile investment schemes was blue chip, a complex web of entities that collapsed three years ago leaving thousands of small investors out of pocket.One of the problems with the scheme was that it didn't fall under any particular piece of legislation.Home buyers claims to buy houses from owners in tight situations. "We specialise in finding creative solutions to real estate problems that others won't touch,"Its website says. "We can pay all cash, take over your payments or leasepurchase your house immediately! "On the other side of the equation, home buyers says it works with"Buyers who we can move into the property quickly before they complete the tedious application and loan processing delays [sic]". "Some need time to alleviate a shortage of downpayment or to solve credit issues. "After buyers move in it then works with lenders to get them"Prequalified"For a loan.If home owners have no mortgage, home buyers will pay them cash for their equity.It has the"Team players"To settle transactions quickly, including lawyers, lenders and mortgage brokers.Blue chip targeted cashpoor older homeowners, getting them to use the equity in their homes to buy investment properties.One of its hallmarks was that investors were encouraged to get Bridesmaid Gowns 2014 legal advice from blue chipfriendly lawyers.Victims of the scheme have since brought successful legal action against several of those lawyers.Property investment schemes are exempt from the securities act, and there is no requirement for operators to back up features of the schemes such as promises of leasebacks and rental guarantees.

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