Nothing causes the heart to skip a beat faster than a threatened claim of fraud or misrepresentation.
Breathe easy. As experienced property lawyers, we’re here to ensure you don’t jeopardise your REIV licence or hard-earned professional reputation.
Here are five ways you can ensure you don’t expose yourself unnecessarily.
- Be truthful: A purchaser buys on an ‘as-is’ basis – including illegal structures. But if a potential purchaser specifically asks about the property structure or condition, you must reveal the truth.
- Be armed with information: Be confident you know the nature and costs of all repair, maintenance and legal obligations – including any up-coming special levies.
- Disclose any notices: You must disclose all notices (e.g. council rectification order) specific to the property or adjacent land to prospective purchasers.
- Disclose vendor building works: Ensure you fully disclose any building works completed by the vendor in their own right – whether structural or not.
- Ensure correct tenant’s notice is given: If you’re selling on a ‘vacant possession’ basis with a current month-to-month tenancy in place, you must ensure the tenant receives at least 65 days’ notice.
Call Steven or Simon to find out how we can protect your legal position with your sale transactions.
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