1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar




Property News

Full risk disclosure may ease first-time buyer jitters

March 23, 2012

First time buyers are often filled with nervousness and excitement when they make a final decision on a new home and sign on the dotted line.

After all, there are risks involved with taking on a mortgage and making a financial commitment that will be there for years to come.

A new recommendation made by the Queensland Floods Commission of Inquiry may assist with some of this tension.

The proposal pushes for a government policy that will make it necessary for sellers to provide risk disclosure - including flood risk - to their potential buyers.

Real Estate Institute of Queensland chief executive officer Anton Kardash supports the recommendation but suggests a  compulsory seller disclosure regime be implemented in Queensland.

Mr Kardash explained the seller disclosure document would be available prior to the sale and include information such as, "compliant smoke alarms, approved safety switches, pool safety issues, accurate flood data and any material facts, such as building approval searches and certificates, about the property".

If approved, the comprehensive information package could serve to ease some of the anxiety that comes along with buying residential property for the first time.



Related Articles

Queensland units sales increase while home loans become more affordable

First home buyers and property investors looking into buying a property in Queensland could be ...
read more

Queensland first time buyers react to homeownership scheme

More and more Queenslanders are realising the 'great Australian dream' to buy their own ...
read more

Queenslanders saving more cash from government policies

The Queensland government is easing the financial burden on residential property dwellers in the ...
read more

Latest Articles

How strong is the NSW property market?

When it comes to making a purchase in the property market, it seems hard to beat the strength of ...
read more

Building booms across many sectors

There are numerous indicators of strength in the housing industry, and one strong signal of future ...
read more

Cash rate at a standstill

One crucial driver of housing demand is the official cash rate from the Reserve Bank of ...
read more