NSW Fair Trading is investigating a Surry Hills real estate franchise following allegations of trust account deficiencies.
Fair Trading Commissioner Rod Stowe says his agency is investigating irregularities in the trust accounts operated by CBD Commercial Pty Ltd, trading as LJ Hooker Surry Hills.
The agency operates out of 437 Crown Street, Surry Hills.
Fair Trading has appointed an independent manager who went into operate the agency on Friday November 4.
Stowe says clients of the real estate agency should contact the independent manager as matter of urgency.
“In particular, this applies to anyone who has purchased a property or entered into a lease using this agency.”
Stowe says Fair Trading had responsibilities under the Property, Stock and Business Agents Act and associated legislation, such as the Residential Tenancies Act, to protect property buyers, sellers, tenants and landlords.
This article first appeared on Property Observer.
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