BFCSA: BFCSA: RETIREMENT VILLAGE PROPRIETORS BLATANT ENTRAPMENT OF THE ELDERLY - Predatory Selling
Watch ABC TONIGHT FOUR CORNERS.and be prepared to cringe!
Yes all States have the same Act but were allowing Developers to stitch up the elderly and their families. I first reported on this Retirement Village Scandal in 1990's. Big heavyweights in REIA were involved and making a killing. They had the industry sewn up and disgraceful contracts being used. Family beneficiaries are lucky if they recover even 30% of their parents money.
Once again, RISK passed on to the buyer with no enforcement of existing consumer laws to protect them. I wrote countless letters to Government and MPs etc. Some of the elderly who were desperate to sell and move out, were being read the riot act over the contracts they had signed. These contracts are indeed entrapment. The elderly were preyed upon and sold a "sales spiel" of "we will look after you. Then the clauses and claws came out!!!
Once again, Consumers left to fend for themselves and suffer horror trips in dealing with real estate agent guru's and their shameful lawyers. Next I received calls from friends of families whose love one's still lived in these retirement villages and then from the families whose loved ones had passed away and the family had been left to battle over the original INTENTIONS of these contracts they had no knowledge of how these terrible products had been sold.
MY ADVICE IS STAY AWAY from dealing with these Retirement Village selling Bandits!!! Time for the Fair Trading Offices around the nation, to step up to the plate and be part of the solution, and not part of the PROBLEM.
Whilst there is NO ENFORCEMENT OF LAW by those by overpaid morons sitting on a mountain of legislative powers, consumers need to stay out of this bear pit!
Denise L Brailey#bankRC