4 KEEPING YOU AHEAD OF THE GAME: New Seller’s Disclosure Requirements in Queensland: What You Need to Know - Part 2 - Queensland has implemented the new Seller’s Disclosure requirements, introducing a standardised framework for property transactions. These changes are designed to enhance transparency and ensure buyers have access to critical information about a property before entering into a contract. For sellers, this means a clear set of obligations to meet before listing their property for sale. What Must Sellers Disclose? Under the new framework, sellers will be required to provide a comprehensive disclosure statement to prospective buyers. This statement must include: 1. Title Information: - Details of the property’s title, including any easements, covenants, or encumbrances registered on the title. - Information about any unregistered interests that may affect the property. 2. Zoning and Planning Details: - The property’s zoning under the local planning scheme. - Any development approvals, overlays, or restrictions that may impact the property’s use. 3. Council and Utility Information: - Rates and water charges applicable to the property. - Details of any outstanding notices or orders issued by the local council or utility providers. 4. Building and Pest Information: - Known defects or issues with the property, including structural problems, pest infestations, or non-compliance with building codes. - Copies of building approvals and final inspection certificates for any renovations or extensions. 5. Environmental and Safety Considerations: - Information about flood risks, bushfire zones, or other environmental hazards. - Details of any asbestos present on the property. 6. Tenancy and Occupancy Details: o If the property is tenanted, the terms of the lease agreement, including rent amounts and expiry dates. Searches and Documentation Required To comply with the new requirements, sellers will need to undertake a range of searches and gather supporting documentation. These may include: • Title Searches: To confirm registered interests, easements, and encumbrances. • Council Searches: To identify zoning, rates, and any outstanding notices or approvals. • Building and Pest Reports: To disclose any known defects or issues. • Flood and Environmental Searches: To determine risks such as flooding or bushfires. • Utility Searches: To confirm water and electricity connections and any associated charges. Timing of Disclosure The disclosure statement must be provided to prospective buyers before the contract is signed. This ensures buyers have all relevant information upfront, reducing the likelihood of disputes or contract terminations later in the process. Penalties for Non-Compliance Failure to comply with the new Seller’s Disclosure requirements can have serious consequences, including: • Buyers being entitled to terminate the contract. • Potential compensation claims for any losses incurred by the buyer. • Financial penalties imposed on the seller. How Aylward Game Solicitors Can Assist Preparing for the new Seller’s Disclosure requirements can be complex, but Aylward Game Solicitors is here to help. Our team can assist you in: • Conducting the necessary searches and gathering required documentation. • Preparing a compliant disclosure statement tailored to your property. • Ensuring your property transaction proceeds smoothly and without legal complications. Don’t risk non-compliance—contact Aylward Game Solicitors today to ensure you’re ready for the changes. Email: mail@aylwardgame.com.au | Ph: 1800 217 217 2/20 Grice Ave, Paradise Point Q 4216 see advert front cover HELICONIA SPECIALIST 2 MARKET STREET, CARRARA Ph: 0415 323 815 DELIVERY AVAILABLE | OPEN 7 DAYS SCREENING HELICONIAS HUGE VARIETY OF TROPICAL GARDEN PLANTS INC. PALMS, GINGERS, CORDYLINES & COSTUS One of our most popular plants - Heliconias. This is a great example of how well they work as a screener. If you’re trying to hide your fence or the neighbours these will do the job. Choose from: Kawauchi, Rauliniana, Black Cherry, Jacquinii or Hot Rio Nites. plus many other plants to choose from. Bookings: www.javeenbah.org.au Phone 0417 004 466 • Email info@javeenbah.org.au CNR STEVENS & FERRY STREETS, NERANG 24-26 Oct Massive artificial reefs. Mirror clouds. Zombie mice. Beaches where once there were none. Traveling the world when planes are gone. How we deal with big, breathtaking ideas – and the crazy excitement of living in hope. It’s sixty-five short scenes – comic, tragic, and everything in between. Jam-packed with info, humanity and truth, but never wagging its finger in your face, Scenes From the Climate Era is a play about now. About the choices we made yesterday, and the difficult beauty of tomorrow.
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