Hi all,
Recently I've been notified by some imminent changes to the buying and selling process in QLD as a result of the Property Occupations Bill coming in to supersede the Property Dealers and Motor Dealers Act. They include but aren't limited to:
- Agents will no longer be allowed to disclose a reserve price or price guide for properties going to auction
- The removal of the Form 30C Warning Statement, to be replaced by a short warning statement on all property contracts
- Cooling off period removed for any registered bidder at auction who purchases the property within two business days after the auction
- Deregulation of commissions payable to agents for sellers
- Sales commission no longer needs to be disclosed to the buyer on contract
- Statutory limit on sole and exclusive agency appointments extended from 60 to 90 days
Recently I've been notified by some imminent changes to the buying and selling process in QLD as a result of the Property Occupations Bill coming in to supersede the Property Dealers and Motor Dealers Act. They include but aren't limited to:
- Agents will no longer be allowed to disclose a reserve price or price guide for properties going to auction
- The removal of the Form 30C Warning Statement, to be replaced by a short warning statement on all property contracts
- Cooling off period removed for any registered bidder at auction who purchases the property within two business days after the auction
- Deregulation of commissions payable to agents for sellers
- Sales commission no longer needs to be disclosed to the buyer on contract
- Statutory limit on sole and exclusive agency appointments extended from 60 to 90 days
