Seller Disclosure in Queensland

The Property Council has recently provided a submission to the Attorney-General and Property Law Review on the Queensland Government Property Law Review Issues Paper 1 – Seller Disclosure in Queensland.

The submission supports a move to a legislative seller disclosure framework for Queensland.

However, the Property Council has recommended a greater focus on buyer due diligence and a reduction in the disclosure requirements placed on a seller.

In addition the submission supports the introduction of:

  • Guiding principles that include the need for information to be provided by the seller to the buyer pre-contract to be within reasonable knowledge for the seller.
  • A ‘one-stop-shop’ that provides access to relevant government departmental and local council information. This would provide an avenue for unsophisticated buyers to better understand the additional information that is of value to them, and access it at reasonable cost.
  • Proportionate remedies based on the severity of the seller’s breach of disclosure obligation.
  • Exemptions for sophisticated parties from the framework as well as the complete removal of the small business and commercial categories from the framework.
  • Electronic conveyancing for disclosure statements.

More detail can be found at the PDF link below.

Seller Disclosure
(Adobe PDF File)