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Continuing Professional Development
Material Fact Guidelines - An Overview
As part of the Sale of Land Amendment Act 2019 - Material Fact Guidelines, a vendor or their agent must disclose all known material facts, as soon as a prospective buyer indicates they are considering buying the property, from March 2020.
Vendors and agents cannot knowingly conceal from a prospective buyer any material facts about a property when selling land. Material facts include whether a murder had occurred on the property, if the property had been used as a meth lab, or the existence of flammable cladding or asbestos.
Join Gil King, REIV CEO and Andrew Meehan Co-Founder, Director and CEO of the Nicholas Lynch Real Estate Group, as they unpack the guidelines, provide examples of material facts and walk members through the penalties for non-disclosure.
This webinar will explore:
- Examples of what material facts are
- How to prepare your office to deal with material fact disclosure
- Guidance about how and when material facts are to be disclosed
- The risks of asking or not asking questions to vendors
- Penalties applicable for non-disclosure
*Prices are excluding GST
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