Are you Considering Selling Property in 2015

A new Sale of Land Contract (approved by both the Law Society of NSW and Real Estate Institute of NSW) has been introduced and prescribed for use.

Some of you will also be aware that the Swimming Pool Act was due to start in 2014, however the date for compulsory commencement was deferred and will now take effect on 29 April 2015. This Act requires that every person selling property (“Vendor”) (who has a swimming pool) must get a certificate under Section 22D of the Swimming Pools Act 1992 from Local Council to confirm that the swimming pool complies. The following link is a copy of Section 22D

If the certificate is not annexed to the Contract, then the Contract is unenforceable.

Our experience to date would indicate that there are very few inspectors who are available in the Council domain who are capable of providing this Certificate, and it is not uncommon for such a pool certificate to take a few weeks to issue!

Those of you who have sold real estate in more recent years will also be aware that it is our advice (for any freestanding property) that you should seriously consider updating the existing survey for the property, and then obtain a council certificate of compliance in relation to the construction of all improvements erected on your property.

This advice is obviously now even more relevant if you have a pool.

If you are going to get Council to inspect your property, then you may as well get Council to inspect all aspects of the property.

This in turn will ensure the property can be sold as expeditiously as possible because any prospective purchaser can confidently rely upon the fact that you as Vendor have complied with all relevant legislative obligations and that the property strictly complies with all Council codes, as at the relevant date that that certificate issues.

Those of you who have purchased property recently will also be aware that we (at Foulsham & Geddes) recommend that you seek or request that the Vendor obtain these certificates before exchange or as a condition in the Contract, and this invariably leads to a delay because the Vendor is reluctant to enter into a conditional contract.

The simple message is that, if it is that you are intending to sell, then you should allow at least 2 months in advance of when it is that you are intending to start the process of selling your property, as it may take at least that time for the property to be able to be ready to be sold unconditionally.

Obtaining these Certificates well in advance will ensure that you have no further possible obligations to any prospective purchaser once negotiations commence.

Please contact us at Foulsham & Geddes to assist in your property sales.

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