Cooling Off period Queensland

Cooling-off period for residential properties | Your rights, crime and the law | Queensland Government

Seek independent legal advice.

Those who have responded to you are experienced investors and I agree with their assessments. You can still go but just don't sign anything. How they got your contact?

 

One more thing, if you sign a retainer authorising then to go ahead with due diligence, making offers etc you will be damned. It does. It sound like you have any control over it. It's a lions den I reckon. You know what, pay @RPI to be your independent lawyer to accompany you. He can advise you. Obviously you will have to pay for his time if you really want to do this.

 

I'd like to go just for the giggles.

No one uses the cooling off period in QLD unless there is no finance clause or building and pest clause.

Finance clause should be

Amount: Sufficient to Compete
Financier: Buyer's Choice
Date: 14 Days from Contract Date

And nothing else in the special conditions. You can terminate and not be reasonable about it.

If in the CBD and I am not tied up elsewhere I will pop down and have a look. Love to see what's going on. If I'm not available then happy to send one of my guys or get them to email me a contract and will have a look. IF there is a solicitor there advising on the contracts already then I would love to find out who, Major conflict of interest.

 

I reckon. That's why I thought your involvement would be ideal. @darrelj we are responding to your posts with concerns because it is really concerning!

 

Mate, you posted this thread because you don't feel right about what they have proposed. For your own sake, please trust your intuition. These people can and will get you excited on the day. You need to be completely prepared to be dazzled by stories of people getting rich and retiring early and then you need to be 100% prepared to walk out of the room without signing.

If it were such an amazing deal then why are they needing to find interstate money? I live in Brisbane and I'm cashed up. This forum is full of very smart and very cashed up investors. If this deal was so spectacular then they wouldn't be paying for flights, they would be charging you through the nose for the advice.

Enjoy your stay in Brisbane, we appreciate your tourist dollars but please go home without signing your life away!

 

For the benefit of all interested here is a Feedback after my visit-

Our visit to Brisbane was without complaints. Prime Wealth treated us so well and they never wanted to push us for a decision on the spot. Of course they were keen to sign us on to a Investement property . But whilst doing the calculations they found out that we were not in a position to go ahead and advised us what we should be doing before we see them again. Investment Property is what they are interested in although the representative who visited us in Tasmania said that they will look into all ways and means to build wealth and save tax dollars.
The relations manager was very friendly and welcoming and I think – didn't hide anything from us. That's the first point of discussion where we were explained by presentations and whiteboard and demo on wealth building software. So we were released around noon and we had all the time till next day to enjoy Brisbane CBD

 

Hey @darrelj .....it will be the longest day of your life mate.....pressure all the way.
Look up "timeshare selling" and find all the horror stories.

It will be hard to say "NO" because they will baffle you with B*****T and false logic.....
Do you really want to be a millionaire....????? (If you answer no then what are you doing there.....!!!!!)

Anything that demands you sign on the day is rubbish....why would anyone who is ethical & honest do that?

Better you and the wife have a day off and get your plan sorted from a real financial advisor with a track record and recommendations.

 

@darrelj I was reading through the thread with a knot in my throat waiting to hear what happened.... I'm so glad to hear you had a great experience!

@RPI absolutely nailed the answer to your original question (if that's still relevant).

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Assuming they were trying to get you into a brand new home, those organisations are broadly referred to as "marketers". Some of them are very knowledgeable and helpful, as this mob appears to have been. Keep in mind they (almost always) take an eye-watering commission on the purchase which is often disguised by the property being smaller or less well equipped than it should be. It's rarely properly disclosed but if you do your research on comparable options it should be clear to you.