News & Information

 Buying and Selling a Property

Changes to the standard Contract for Sale of Residential Land in New South Wales

The conveyancing regulations in New South Wales will be changed on the 1st of September 2010.  This change will cause the contents of a standard contract for the sale of land to change.

The new regulation introduces a further warning as being compulsory in the contract.  It is similar to the one that warns about the requirement of smoke alarms in the premises.  The heading will read “Warning – Swimming Pools” and the contents of the warning relates to the owner of a property ensuring compliance with the Swimming Pools Act 1992.

If the new warning is not included in a contract for the sale of land after the 1st of September 2010, it gives the purchaser a right to rescind within 14 days of exchange.  If you would like to know more about the conveyancing process, please see the conveyancing section of this website.

It is important to note that the new warning is required for ALL contracts whether or not there is a swimming pool situated on the property or not.

If you would like to speak to someone about the purchase or sale of property, please contact  Peter Howell on (02) 9807 3222, or alternatively by email at info@obhlegal.com.au.

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