NSW VOI

Discussion in 'The Buying & Selling Process' started by dabbler, 17th Aug, 2017.

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  1. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Because it is not a big deal. You need to get your ID checked when participating in certain transactions. This is the law. That's all there is to it.
     
  2. dabbler

    dabbler Well-Known Member

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    Did you miss the part where was said I been dealing for years with same people, they have my certified IDs for years, I also offered to go in there years ago, and is quite a few matters already dealt with.

    Am I still strange ?

    Am I strange for not wanting to do this, seeing my local PO is hopeless and usually 20-40mins to do anything there ?

    And for want to know more about this new idea/system.
     
  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    If you have a loan the lender satisfies the VOI and their 100pts of ID etc

    I believe the new rules on GST settlements after June 30 2018 go a step further and require the BUYER of new property to take responsibility for the GST the developer will have to pay.

    Laws dont have to be convenient. Most laws contain penalties to encourage compliance. Ask CBA about their compliance fail.
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Let me answer this with a question:

    Why do you keep going back to use these same people again?
     
  5. dabbler

    dabbler Well-Known Member

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    It is not a lender, there is no new lending/lender on new buy, also all my lenders have years of certified IDs and business with us, it is nothing to do with any lender, this is specifically solicitor, and we have done other buys they have handled.

    They have, multiple copies of our IDs, the IDs are all current and what s more, would have been certified by different JPs...

    But they said, that is not enough, have to go to post office, from this thread, it is not clear if that is right or wrong yet.

    Of course, if it must be done, it will be, if it is not a must, it won't be !
     
  6. dabbler

    dabbler Well-Known Member

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    Now you ask the best question so far !

    Do not worry, this is part of what is on mind.

    No offense Terry, but I am sick to death of solicitors worried about litigation ! It has all become a bit of factory where they churn these people out these days.
     
  7. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Ahhh...Australia Post.....I had to do full IDs to get an ASIC account. Its was harder to get than a passport...But thats what a digital ID needs. The weak link in the process is Aust Post. I dont know if its their need to sell so much crap that its like a op shop or the people they employ but AP is appalling. The City stores are so busy but the staff go to lunch when the customers walk in.

    If we all had an Australian card !!
     
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  8. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I don't know why you think this has something to do with solicitors being sick of litigation. Simply filling in a VOI form is not risky. Once a solicitor has seen original IDs they should be able to sign off on VOI forms - multiple times. They can't based on certified copies.
     
  9. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Australia post is certainly the weak link in all this
     
  10. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Every link is currently weak.

    Last week on Monday a branch performed the VOI for a client because that's their process. The performed the check incorrectly, not providing evidence of the clients middle name. Friday is settlement day and I'm informed there's a problem at 10am and it's my responsibility to resolve it because it's a 'broker deal'.

    I had the appropriate documents to the bank promptly, but it still took them another 2 business days to process. Had the vendor not been very accommodating it might have cost the purchaser $3000 in penalty interest for settling late.

    I'd ID'd them, the bank had ID'd them, their solicitor had ID'd them. There's definitely something wrong in this system.
     
  11. teetotal

    teetotal Well-Known Member

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    @dabbler we had to do this in VIC early this year. And I created below thread where others mentioned NSW is also same. However I didn't have to do for my NSW property late last year.

    ID verification for settlements
     
  12. dabbler

    dabbler Well-Known Member

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    Yes, a true digital ID card for use in multiple places inc. replacing licenses would be good.

    Yes, Auspost, what can I say, it annoys me that I pay for mail services then queue up while every other type of transaction is done, and is 50 50 as to how long it will take, I will be moving from current one as is a husband and wife, only one works, one is so slow for even basic things, the other has a sign up half teh time, back in 5 mins and is never 5 mins, too top it off, often the cards are in wrong box so you wait for 20 or so to find nothing for you after all *sigh*, it happens enough to be annoying.


    The solicitors are all worried about litigation from clients and elsewhere, that is a general comment, point is seems hard just to get things done sometimes because of the many twits now in the game, they complicate so many transactions in what seems just making it seem like they are busy, anyway, they often sure are not helpful, unlike the current company here on PC :)


    Seems every system is now weak, now all lic. are sent by snail mail....gawd, talk about ripe for ID theft.

    Agree, it gets a bit frustrating, in case anyone can't tell :) just having one of those weeks where near everyone I pay to do something seems to need babysitting.

    Consistently inconsistent, that is what it all is :)
     
  13. dabbler

    dabbler Well-Known Member

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    Ended up doing Aus post, endured the ploddy, rude aussie guy.

    What a joke, he was more concerned about all the buttons and fields in the computer screen, the JPs we have used are far quicker and pay more attention to trying to prevent signing off on someone who is shonky, but then again, I am sure in some circles they would have the "go too" people.

    Just like the RTA person who was caught on the take recently.

    And if you turn up with fake documents, viola, there is your VOI done.

    I suppose I am just frustrated that our country has taken the stance of running the average honest person over the coals due to a very small minority that will do whatever they want anyway with many and varied things.

    I thought it was over, but now have to do some kind of statements for the OSR or they wont take our money, so much for VOI to cover the transaction.