A ‘Residential property’ cannot be advertised for sale, either privately or by an agent, until a Contract for Sale, also known as a listing contract, has been prepared.
The listing contract must contain at least:
- a copy of current title documents (title search, plan and any easements registered on the title);
- a current zoning Certificate from the local Council (known as a Section 10.7(2) Certificate);
- a drainage/sewer diagram showing the location of the sewer main; and
- any other document(s) that may show the property is detrimentally affected in some way (for example: disused underground fuel tank).
If the property has a swimming pool or an outdoor spa the Contract must also contain a copy of evidence of registration of the pool or spa, a valid Certificate of compliance or a valid Certificate on non-compliance.
A copy of the Listing contract is to be made available to all prospective purchasers.
Prospective purchasers should take full advantage of being able to review the Contract prior to making an offer to purchase the property.
Careful consideration should always be given to any easements that affect the property, as generally you cannot make any improvements (fences, sheds, walls or buildings) within an area designated for an easement. Easements can be for sewer, drainage, electricity or any other service(s) required.
Restrictions on the Use of Land that will prevent certain types or buildings on the property or prevent you from erecting a front fence, for example, should also be reviewed carefully.
What is classified as a ‘Residential property’?
A ‘Residential property’ is land on which there are not more than two places of residence, vacant land on which a single place of residence is not prohibited or lot or lots under a Strata/Neighbourhood/Community Title.
‘Residential property’ does not include land or a lot that is used wholly for non-residential purposes or land that is more than 2.5 hectares in area.
A ‘place of residence’ means a building or part thereof used and currently designed for use as a single dwelling only and includes outbuildings and other appurtenances (for example: Garage, water tanks).
This article is general information only and should not be relied on without obtaining further specific information.