REIQ Best Practice Guidelines v03.23 - Flipbook - Page 83
iv.
if there is an unsatisfied judgment,
order or writ affecting the property or
Client’s ability to complete the
contract;
v.
if there is an order or notice issued by
a competent authority:
A. there is no unregistered right
which is required to be registered
to give indefeasibility affecting
the common property of body
corporate assets;
B.
A. under Part 11 of the Property Law
Act operating as a charge on the
land;
B.
C. all body corporate consents to
improvements made to common
property which benefit the lot are
in force;
under the Building Act or
Planning Act (show cause notice);
C. proposing to alter dimensions of
transport infrastructure;
there is no proposal to record a
new community management
statement; and
xi.
a copy of any leases and if there are
any disputes or issues with a
commercial lessee; and
xii.
if there are any other material facts
which may reasonably influence a
prospective buyer’s decision to
purchase the property and which
failure to disclosure would materially
prejudice the prospective buyer.
D. to resume any part of the land;
E.
declaring the land as acquisition
land;
F.
under the Foreign Acquisitions
and Takeovers Act being a charge
on the land;
G. requiring work to be done or
money spent in relation to the
property which must be complied
with;
vi.
vii.
if there are any outstanding
obligations imposed on the Client
under the Environmental Protection Act
or if the Client is aware of any other
matter which may lead to the land
being classified as contaminated;
if access or any services to the land
pass unlawfully through other land;
viii.
if there is an outstanding notice of a
development approval which may
constitute a mistake in the seller’s title
to the land;
ix.
if the property is heritage listed;
x.
if the property is a lot in a community
titles scheme, that:
(b) If any of the above matters are applicable to
the property, Member C&I Agents should
direct their Client to obtain legal advice
about their obligations of disclosure
prior to entering into a contract with a
prospective buyer.
(c) If a Client instructs a Member C&I Agent not to
disclose a matter under this guideline 17, the
Member C&I Agent should provide a written
statement to the Client confirming:
i.
that the Member C&I Agent has
directed the Client to obtain legal
advice about the matter, the Client’s
disclosure
obligations
and
the
potential ramifications under the
contract; and
ii.
that in any event, the Client has
instructed the Member C&I Agent not
to disclose the matter.
Commercial Sales Forms
Available in Realworks
REIQ BEST PRACTICE GUIDELINES
V08.23
83
