?Assess the effectiveness of the legal methods of securing shelter. Describe ways: In Australia there are three main ways a person can secure shelter. These are: private buying, private rental and public rental. The principle of home purchase is "caveat emptor" which means "let the buyer beware." There are various advantages and disadvantages when inquiring to look into any methods, which determine the point of sale. While searching for a secure home, people need to take these into consideration, as well as the Parliament's legislations which aid in a just sale. Purchasing a house privately, or acquiring land and building a house/unit on it, is referred to as private housing. The Australian legal system determines the protection of both the vendor and purchaser through a standard contract of sale, the regulated roles of real estate agents, trained solicitors and the Building Corporation. The Conveyancing Act 1919 (NSW) sets out the requirements in a standard contract of sale: It must be in writing, contain the purchase price, deposit amount, the full names, addresses and occupations of the parties, a description of the property and title to the land, and the time and date that settlement will occur. The Conveyancing (Sale of Land) Amendment Act 1990 (NSW) maintains that contracts must be prepared and available for inspection before offering a property up for sale. This legislation prevents gazumping from happening. In NSW, purchasers are allowed five days as a "cooling off period" in case they wish to cancel their purchase. The Contract Review Act 1980 and the common law can deal with unfair contracts. Most people cannot afford to buy a house upfront. The government allows people to apply for loans to finance their purchase. The money that is borrowed is called a mortgage; the lending institution is called a mortgagee and the borrower is called a mortgagor. To make sure money is not lost in giving loans, banks and other credit providers take into consideration the ability for the person to repay the loan. Considerations include: 1. The ability to service the loan 2. Whether the borrowers income is secure for the period of the loan 3. Whether the property is worth more than the value of the loan 4. Whether the borrower has a good credit rating To make sure all is fair in business, the state government of NSW has implemented the Consumer Credit Act 1995 and