Writing on the side of a cow
Warning: you will be offended
“CONVEYANCING ACT 1919 - SECT 54A
Contracts for sale etc of land to be in writing
54A Contracts for sale etc of land to be in writing”
What does the above law mean?
It means anyone can bull shit you if it was done verbally (Is there a more powerful word to hammer it into your head?).
The key word is “verbal”
- If it was verbal, it means no evidence.
- If it was written, that’s evidence.
How is that important when it comes to buying property?
You see, because of the above law. Anything that is to be valid in a court of law, it has to be in writing.
This law only applies to land law.
What does this mean?
It means any salesman on 2 legs can walk and talk and bull shit.
Why you do choose to believe every single word the salesman says?
Here are some of the reasons why:
- The salesman speak with an air of authority
- The salesman drive a flashy BMW that he hired for the day
- The salesman wears a tie
- The salesman is brash
- The salesman is handsome
- The salesman is a sweet talker
- The salesman is a seducer
The list goes on and on.
Here is one salesman’s technique that works every time:
Once he senses that you are eager or that you are a fool.
He does the things that work 100% of the time: inject fear into your heart by saying “there are 2 other buyers coming”.
From our past experience, 86% of the time, that is a lie.
Whether that is true or not, you are shaken and will leap into signing the contract.
How should you protect yourself?
- You should know your weaknesses
- Learn to control your emotion. That is your demon and your number 1 enemy
- Learn to filter out what is not true
- Learn to be objective. Get the facts and not opinions
- Land law has to be in writing. Anything spoken is meaningless in a court of law
- Know that the salesman has the law on his side
- Know that the salesman technique is to strike fear into your weak heart
- You should make your own investigation and not over reliance on the salesman’s distorted opinion
- Prepare your finance in advance and prepare it thoroughly
- Anything that sounds too good, do not believe it, bin it or flush it.
If there is too much pressure, you better back off. That is not the only property in Australia. There will be more opportunities down the track.
You will be even more offended if you got tricked.
Think smart, change your thinking
Is writing on the side of a cow valid?
Answer: Yes, it is.
(Better than a verbal)