on 29-09-2020 02:47 PM
I have a question being a real estate agent based in Victoria. As you know due to the lockdown here many properties have been removed and no clients are wanting to re-sell. I am sure there are so many people in the same situation.
Obviously they had a section 32 prepared for their previous listing. I know a new section 32 needs to be prepared.
The questions are -
Is there a timeframe they can use the current documents?
Is there a discount rate as I have had a few enquiries and i am unsure what to tell my clients to re-do all the documents that you could advise me on?
Your feedback would be greatly appreciated.
on 09-10-2020 02:12 PM
Interesting question! I think it would be best to defer to your clients' legal practitioners or conveyancers for advice on this one.
All the best.
on 13-10-2020 11:28 PM
I am a legal practitioner in Melbourne - happy to assist (you can find me at www.lilyong.com/0403291888)
The questions are -
Is there a timeframe they can use the current documents? A: The issue is whether or not your client is providing sufficient relevant and material information to discharge their obligation under s.32 of the Sale of Land Act - usually after 3months the information is considered stale and may not contain sufficient information such that the purchaser may have rights to terminate the contract even after signing.
Is there a discount rate as I have had a few enquiries and i am unsure what to tell my clients to re-do all the documents that you could advise me on? Unfortunately certificates are expensive especially OC Certificates. IF only PEXA could develop a portal where council rates and water rates and OC Certificates could be attached to the property (similar to titles at the land registry) and then all parties could access for a fee for a period rather than both sides having to apply and pay for the same document even if a sale cannot be achieved or after paying all that cost the sale falls through
Hope this helps