David Wilkinson & Co | Lawyer & law firm

David Wilkinson & Co

Phone: +61 3 9761 2355

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25.01.2022 The current and future state of the #propertymarket is top of mind for all of us. Renowned Economist Dr Craig Emerson, provides an update on the status of the #housingmarket and what we can expect in the months ahead, as industry navigates the #COVID19 outbreak - #PEXA #Proptech

23.01.2022 A timely reminder from the Legal Practitioners Liability Committee - "Subject to finance clauses have always been a source of claims but attention needs to be paid to them more than ever in this current uncertain economic climate. There are two recurring mistakes we see in claims that are particularly relevant at the moment. The first is that clients are not adequately advised about how subject to finance clauses work. They assume that if they dont get finance the contract ...is automatically cancelled so they often dont tell their lawyer the finance has not yet been approved by the due date. The contract then becomes unconditional and the client often struggles to find alternative finance in time for settlement. The second error is that the client mistakenly assumes finance has been approved when they receive a conditional letter of approval from their financier. As a result, the contract is allowed to become unconditional, and when the conditions are not met the finance falls through. The most common condition is the requirement that the property achieves an appropriate valuation. In the current climate there is, and will continue to be, some uncertainty as to market value. With many businesses not actually operating, or operating in a reduced capacity, the conditions on finance approval are likely to be more numerous and more open ended than ever before. It is important to put your clients on notice as early as possible that finance approval may be conditional and, in some cases, may be withdrawn for various reasons outside their control. You should advise your clients to read their letters of offer carefully, and if in any doubt, give you a copy to review before the contract becomes unconditional. Diarise with reminders the time limit and follow your client up to ensure they can make an informed choice before the contract becomes unconditional."

23.01.2022 Looking for a bargain?

23.01.2022 New rental listings are rapidly rising in inner Melbourne, a sign of things to come.

23.01.2022 Buyers of off-the-plan apartments are beginning to bear the brunt of the economic downturn.

23.01.2022 It is likely to have a larger impact on the housing market than during the last recession in the early 1990s, economists say.

22.01.2022 Does this worry you - or excite you?

22.01.2022 OPINION: The RBA says that a drop in housing prices would mean that there would be more instances where the value of a home loan is greater than what the property is worth.

19.01.2022 Thousands of residential renters plan to stop paying their landlords this month in a nationwide strike as government negotiations stall and real estate agents claim they are being abused.

18.01.2022 Low mortgage rates are putting the spotlight on properties where you can live and work....

17.01.2022 The final auction results for week ending 5 April 2020. The REIV collected 93 per cent of all Victorian auction results. For free weekly sales results delivered to your Inbox every Saturday night subscribe at http://bit.ly/2Dk93ZI #melbre #auction #realestate #reivmarketinsights

16.01.2022 Two of Australias largest employers of lawyers have cut staff pay without reducing hours, while another has signed up for the JobKeeper scheme.

16.01.2022 March 2020 quarterly results show underlying strength of the Victorian property market Find out how your suburb performed at http://bit.ly/2W5wpYe Members, plea...se login and download the full report at https://bit.ly/2KsLf6s #melbre #reiv

16.01.2022 A Melbourne council is refusing the Andrews government access to land needed for early works to start on the $16 billion North East Link project | EXCLUSIVE

16.01.2022 REIV president Leah Calnan said the backflip showed the government was willing to listen to the industry about the efforts they were taking to be compliant.

16.01.2022 Changes in the real estate market as a result of COVID-19 have opened up opportunities for first-home buyers.

16.01.2022 Bank-based forecasts of a steep fall for residential property underestimate key factors, writes Stuart Wemyss.

15.01.2022 Will your future-determining credit score end up in tatters by the time this is all over?

14.01.2022 A #realestate update for all Victorians in the #heraldsun today. #melbre #reiv

13.01.2022 In these circumstances, the buyer whos able to act now has a great deal of power."

12.01.2022 "Its a lose-lose situation. We have to try and find the least-worst option."

12.01.2022 Concerns are being raised about how it will assist landlords who only own one property.

11.01.2022 "Many people in our society genuinely face the prospect of being displaced."

10.01.2022 Recent sales show there is still some confidence out there...

09.01.2022 How does the federal government's new 'HomeBuilder' scheme work? We break it down. Read more: http://9Soci.al/9LBz50zYocu 6.00pm on #9News

07.01.2022 "Its a very weak auction market where many buyers are just holding back because of the negative outlook, the considerable uncertainty that is out there."

06.01.2022 Exciting news for our first home buyers 0401 815 374 [email protected]... https://www.realestate.com.au//coronavirus-20000-regional/

04.01.2022 As the housing market starts to feel the effects of economic uncertainty, some homes are seeing stronger demand.

04.01.2022 Auctions and open for inspections are coming back! https://bit.ly/2yO4CVt

04.01.2022 "Borrowers shouldnt assume that the lender will honour their pre-approval when they find a property."

03.01.2022 Lenders are revising their lending criteria, with a focus on borrowers considered to be in high-risk industries.

01.01.2022 A timely reminder from the Legal Practitioners' Liability Committee - "Subject to finance clauses have always been a source of claims but attention needs to be paid to them more than ever in this current uncertain economic climate. There are two recurring mistakes we see in claims that are particularly relevant at the moment. The first is that clients are not adequately advised about how subject to finance clauses work. They assume that if they don’t get finance the contract ...is automatically cancelled so they often don’t tell their lawyer the finance has not yet been approved by the due date. The contract then becomes unconditional and the client often struggles to find alternative finance in time for settlement. The second error is that the client mistakenly assumes finance has been approved when they receive a conditional letter of approval from their financier. As a result, the contract is allowed to become unconditional, and when the conditions are not met the finance falls through. The most common condition is the requirement that the property achieves an appropriate valuation. In the current climate there is, and will continue to be, some uncertainty as to market value. With many businesses not actually operating, or operating in a reduced capacity, the conditions on finance approval are likely to be more numerous and more open ended than ever before. It is important to put your clients on notice as early as possible that finance approval may be conditional and, in some cases, may be withdrawn for various reasons outside their control. You should advise your clients to read their letters of offer carefully, and if in any doubt, give you a copy to review before the contract becomes unconditional. Diarise with reminders the time limit and follow your client up to ensure they can make an informed choice before the contract becomes unconditional."