Contributed by Jason Cleary – Elders Real Estate Living
THE new seller disclosure requirements may feel like extra red tape, but in reality, they will quickly become part of the normal property transaction process, one that brings Queensland into line with the more structured regimes of the southern states.
Rather than something to worry about, these changes represent a positive step towards greater transparency, helping both buyers and sellers move forward with more confidence. They also highlight the importance of having experienced property professionals on your team to guide you through the process.
At Elders Real Estate Living, we are not preparing the new Form 2 disclosure documents on behalf of our vendors. Instead, we advise and support our clients in engaging suitably qualified legal professionals who can assist with this requirement, while we ensure the process runs smoothly as they prepare their property for sale.
Our advice to vendors:
• Rely on experience: Quality advice now can save time, expense, and stress later.
• Start early: Once your agent appointment agreement is signed, begin preparing the Form 2 vendor disclosure documents with your lawyer straight away.
• Be prepared: You never know when an offer may come through, so having documents ready avoids delays.
• Allow extra time: Larger or more complex properties (such as rural holdings or multi-titled sites) may take additional time to prepare.
Our advice to buyers:
• Read carefully: Review the disclosure documents thoroughly and seek clarification on anything you don’t understand.
• Do your due diligence: Use the information as part of your decision-making process to ensure you’re confident in your purchase.
• Remember buyer beware still applies: Disclosure improves transparency but doesn’t eliminate all risks.
At Elders Real Estate Living, we see these requirements as simply becoming part of the pre-listing and sales process. If you’re thinking of selling, we can guide you through each step and connect you with trusted local solicitors. Call us on 0402 073 661. Our focus is on keeping the journey clear and straightforward, with professional support at every stage.
