since when does a buyer have to disclose anything matey?? correct me if im wrong..cheers
well matey
,
neaka is in Victoria and there they have to do a Section 32 Vendors Statement.
What is the Section 32 Vendors Statement?
A legal document
The Section 32 Vendors Statement is a document provided by the vendor (seller) of real estate to an intending purchaser.
Its name comes from Section 32 of the Sale of Land Act, which requires a vendor to provide certain information to a purchaser BEFORE a contract of sale is signed.
In general terms, if the vendor fails to provide the information set out in Section 32 of the Sale of Land Act before the contract is signed, the purchaser will be able to cancel the contract.
What's in the Section 32?
The following list contains some of the more basic information to be found in the Section 32 Vendors Statement. It should be noted, however, that much depends on the type of property being purchased, and further information may be required in particular circumstances. (Remember, legal advice from a qualified lawyer should always be sought regarding the information contained in the Section 32, and what information it does NOT there, but SHOULD BE there):
Statutory warnings to the purchaser.
Vendor’s details.
Title details.
Information regarding building permits issued in the past 7 years.
Particulars of owner-builder warranty insurance.
If the vendor is the owner-builder who completed the building works there should be a written inspection report (which lists any defects) in the Vendor’s Statement.
Particulars of any mortgages or “charges” over the land (i.e. debts charged against the land).
Information regarding covenants,
easements and any other restrictions on title, whether or not they appear on the title.
Planning information, particularly where zoning restricts land use.
Information regarding outgoings payable by the owner of the property.
Disclosure of any notices or orders issued by the authorities, regarding such matters as fencing, road-widening, sewerage etc..
Advice as to road access if there is no access to the property by road.
Information as to services connected to the property.
So, if you do not disclose - the contract may be crashed.
Same kinda deal in NSW - but not exactly (of course)
edit: Just read that the IP is in QLD
- my apologies matey