Understanding Non-Disclosure in Property Sales

In the realm of property transactions, transparency is paramount. The Property Law Act mandates that sellers provide full disclosure of all relevant information concerning a property during the sales process. This obligation entails sharing comprehensive details about the property, which may encompass various aspects such as information about body corporates, gas allocations, water allotments, easements, caveats, the status of smoke alarms and safety switches, as well as the existence of pool safety certificates. Every material fact related to the property must be disclosed to potential buyers without exception.

Material facts are those aspects of the property that could significantly influence a buyer’s decision to purchase. These encompass a wide range of considerations, including but not limited to, risks of flooding, contamination of the land, any history of the property being the site of a serious crime such as murder, or its use for illegal activities, such as drug manufacturing or distribution.

Moreover, sellers must ensure that all information presented about the property is accurate and verifiable. This involves confirming council approvals for structures like sheds, any renovations undertaken, and compliance with legal building heights.

Failure to disclose relevant information can have serious consequences. If undisclosed issues come to light during the contract process or even after settlement, the buyer may have the right to terminate the contract. Additionally, the buyer could potentially seek compensation and damages due to the non-disclosure. Therefore, sellers are strongly advised to be thorough and transparent in disclosing all pertinent details about their property to avoid legal repercussions and ensure a fair and straightforward sales process.

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