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Stiffer Penalties for Delinquent Agents

house keysThose real estate agents who intentionally aid offshore buyers in bypassing new rules may face stiffer penalties, says James Mitchell in an article for the website Real Estate Business. The parliamentary report placed by the House of Representatives Standing Committee is 119 pages long and offers 12 recommendations which include civil and criminal penalties for lawyers, accountants and agents helping foreign buyers cut nefarious deals.

The recommendations also talk about keeping the penalties proportionate to the price of the property thus creating a better deterrent.

You can read the original article here.