Why choose Stanford Legal for your disclosure statements?
Property Sellers
Experience Queensland's most trusted conveyancing service. We handle all legal documentation with precision and care, ensuring your property sale proceeds without complications or unexpected delays.
Complimentary Legal Documentation
Complete preparation of all required disclosure statements provided at no legal cost.*
*Search and registry fees apply (typically $126 - $423.90)
Real Estate Agents
Complete Compliance Solution
We manage the entire legal process, removing compliance burden from your workflow.
Beat the Deadline
The new rules start 1 August. Most contracts will require disclosure by mid-July.
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What is a Seller Disclosure Statement in Queensland?
A comprehensive guide to understanding your legal obligations when selling property in Queensland
When you decide to sell your property in Queensland, you're required to disclose certain information to potential buyers. This is done through a seller disclosure statement. Think of it as a transparent report card for your property. The goal is to provide buyers with all the necessary information to make an informed decision, creating a fair and transparent process for everyone involved.
Legal Requirement
In Queensland, the seller disclosure regime is a legal requirement. The Real Estate Institute of Queensland (REIQ) provides standardized forms, but the obligation to disclose is a matter of law. Failing to provide a complete and accurate disclosure statement can have serious consequences, which we will delve into later.
What Must Be Included in a Seller's Disclosure?
The seller disclosure statement in QLD is a comprehensive document. While the specifics can vary, here's a general overview of what you'll need to disclose:
Required Disclosure Items
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Property Title and Planning InformationThis includes details about the title, any encumbrances, and zoning regulations.
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Building Work and ApprovalsYou must disclose any building work done on the property and whether it was approved by the local council.
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Body Corporate InformationIf your property is part of a body corporate (like a unit or townhouse), you must provide a body corporate disclosure statement.
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Pool SafetyIf the property has a pool, a pool safety certificate must be included.
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Environmental MattersThis can include information about contaminated land or heritage listings.
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Known IssuesThis is a big one. You need to disclose any known defects or issues with the property. This could be anything from a leaky roof to a pest infestation. Honesty is always the best policy here.
The Risks of Non-Disclosure
Lying or failing to disclose information on your seller disclosure statement is a serious offense. If you're caught, you could face:
Potential Consequences
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Termination of the Contract: The buyer may have the right to terminate the contract and get their deposit back.
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Legal Action: You could be sued for damages by the buyer.
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Fines: The government can impose fines for non-disclosure.
It's simply not worth the risk. Be upfront and honest about any issues with your property.
Frequently Asked Questions (FAQs)
Here are answers to some common questions about seller disclosure in Queensland:
What does "no seller disclosure" mean?
If a property is being sold without a seller disclosure statement, it's a major red flag. This could mean the seller is trying to hide something. Buyers should be extremely cautious in this situation.
When do you get the seller's disclosure?
The seller's disclosure statement should be provided to the buyer before they sign the contract of sale.
Can I sue a home seller for non-disclosure?
Yes, if you can prove that the seller knowingly hid a defect, you may be able to sue them for damages.
What is a seller credit on a closing disclosure?
A seller credit is an amount of money that the seller agrees to give the buyer at closing. This can be used to cover closing costs or repairs.
Conclusion
The seller disclosure statement is a critical part of the home-selling process in Queensland. It protects both buyers and sellers by ensuring a transparent and fair transaction. By understanding your obligations as a seller and being honest and upfront, you can ensure a smooth and successful sale.
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Big enough to be experts. Small enough to care.
Empathy – Whether you’re seeking to buy a new property or facing the stresses of organising child living arrangements – we’ll treat your matter with complete empathy maintained with total objectivity. Everyone deserves a fair resolution and achieving this through amicable means is our first port of call.
Education – You’ll be educated in your legal matter from our initial consultation right until its conclusion. We’ll provide you all the tools necessary so you can navigate the legal process with confidence. This helps to remove your stress and put your best foot forward.
Empowerment – A natural byproduct of our first two values, you’ll gain the empowerment to feel in control of your individual case. You’ll have the confidence when it comes to understanding what’s happening and what actions to take next. We make your most important life decisions with you, not for you.
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Frequently Asked Questions
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