• Online advertisements are prone to errors and inaccuracies
• Wherever they issue advertisements, property agents are obliged to comply with all the relevant regulations and guidelines of the Estate Agents Authority

• Buying uncompleted properties overseas comes with inherent risks and buyers should seek professional advice before taking any decision
• The Estate Agents Authority has embarked on several campaigns, introduced slogans and launched promotional videos to raise awareness

• Part IVA of the Landlord and Tenant (Consolidation) Ordinance came into effect on 22 January this year
• As estate agents may handle tenancies relating to units that are subject to Part IVA, the Estate Agents Authority has issued a practice circular setting out the relevant guidelines for them to follow

• Hong Kong estate agents are legally bound to identify and verify the identity of their customer when handling the sale of a property
• Consumers should be willing to provide the necessary information to their estate agents contribute to the combat of money-laundering

 Potential risks include the purchasers not being able to obtain any, or sufficient, mortgage loan to complete the purchase
 Estate agents should bring the buyer’s attention to the possible risks when handling transactions involving such properties

• Providing any misleading information to in order to close a deal quickly or attract consumers brings disrepute to the trade, warns EAA
• Buyers or tenants can also do their own research instead of solely relying on the information provided by the estate agents

• As mortgage terms are complicated, prospective buyers should not make any decision based solely on information provided by agents
• Prospective buyers should seek direct financial advice from banks or other financial institutions

Purchasing properties situated outside Hong Kong, particularly uncompleted ones, is complicated and full of risks

• Unauthorised building work may render the property title defective, while potentially saddling buyers with repair or remedial costs
• Estate agents should remind both parties to seek legal advice before arranging for them to enter into a transaction

The recent boom in the first-hand residential property market has helped contribute to an increase in the number of transactions in secondary residential properties. Media reports have shown prospective purchasers queuing up to inspect properties