REIQ Best Practice Guidelines v03.23 - Flipbook - Page 84
18. ASBESTOS IDENTIFICATION, REGISTER
AND MANAGEMENT PLAN
(a) Member C&I Agents must make reasonable
enquiries with the Client to ascertain:
i.
if a competent person has been
engaged to identify all asbestos or
asbestos contaminating material at the
property;
ii.
iii.
if an asbestos register compliant with
the Work Health and Safety Regulation
2011 (Qld) has been prepared and is
kept on the property; and
if an asbestos management plan
compliant with Work Health and Safety
Regulation 2011 (Qld) has been
prepared and is kept on the property.
(b) If the Client has not complied with their legal
obligations or the Member C&I Agent has
reasonable doubt that the Client has complied
with their legal obligations under the Work
Health and Safety Regulation 2011 (Qld), then
the Member C&I Agent should direct
the Client to seek legal advice about
their obligations and disclosure requirements
which must be made under a contract and
legislation.
(b) If the Member C&I Agent is instructed to invest
the buyer’s deposit, the Member C&I Agent
must comply with the relevant clause of the
contract, including obtaining the buyer’s tax
file number.
20. BUILDING AND PEST CONDITIONS
(a) If a contract is subject to a building and pest
inspection condition, the Member C&I Agent
must facilitate an inspection of the property by:
i.
seeking the Client’s approval about the
time and date the buyer seeks to have
the inspection;
ii.
if applicable, giving the appropriate
notice to the lessee depending on the
terms of their commercial lease; and
iii.
encouraging the Client or lessee to
ensure all parts of the property are
accessible to the inspector.
(b) Member C&I Agents should not provide any
advice to a prospective buyer about a building
and pest inspection report including:
i.
an assessment of the defects listed;
ii.
providing an estimation of the cost of
repair or replacement with respect to
defects; and
iii.
whether a prospective buyer has a
right to terminate based on the type of
defect listed or severity of defects
accumulated.
19. DEPOSIT PAYMENT
(a) If a buyer has:
i.
paid a deposit by an electronic funds
transfer;
ii.
provided evidence of payment such as
a payment confirming showing the
account details, amount and date of
payment; and
iii.
does not do a thing that delays the
payment;
iv.
then the Member C&I Agent may
provide a Notice of Deposit Payment
confirming the deposit has been paid
on the day it was paid.
REIQ BEST PRACTICE GUIDELINES
V08.23
21. FINANCE CONDITIONS
(a) Member C&I Agents should act reasonably if
recommending a due date for finance approval
conditions to a prospective buyer, giving
consideration to the prospective buyer’s
reliance on the Member C&I Agent’s
knowledge and expertise.
(b) Member C&I Agents must not provide any
advice to a buyer with respect to their finance
approval, affirming, waiving or terminating the
contract under the finance approval condition.
84
