Less "Red Tape" On Contracts
PLANS to fix the "dog's breakfast" of residential real estate contracts could mean more information for buyers. The State Government has announced plans to simplify the selling and buying process by reducing the number of forms homeowners need, from as many as six, to one contract.
Current requirements in a house contract may include a sustainability declaration, a pool safety declaration, a warning statement, an information sheet, disclosure statement and, of course, the contract of sale.

The Government is looking at ditching the sustainability declaration and including flood-mapping data.

Real Estate Institute of Queensland chief executive Anton Kardash said a range of other statutory disclosures should be included in the proposed regime to simplify residential real estate transactions.

"Some examples include disclosures required under the Neighbourhood Disputes Resolution Act 2011 relating to trees," he said.

"For residential lots in a community titles scheme such disclosures include latent or patent defects in common property or body corporate assets under the Body Corporate and Community Management Act 1997, and actual or contingent or expected liabilities of the body corporate, which are under the same Act.

"The REIQ would ultimately like to see a single document which includes disclosures of all relevant matters relating to the property - for example, compliant smoke alarms, approved safety switches, and pool-safety issues."

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