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Contract for Sale of Land – Changes to be Aware of!

27 Aug 2010 Casula 0 Comment

When you own a home and especially when you are selling it, it is always important to keep up to date with all of the latest property laws and regulations.
 
A new Regulation has just been introduced called Conveyancing (Sale of Land) Regulation 2010, and this will replace the Conveyancing (Sale of Land) Regulation 2005 as of the 1st of September 2010.
 
This new Regulation introduces a new section in a Contract for Sale of Land with the heading, "Warning – Swimming Pools". This new swimming pool notice must be included regardless of whether or not you have a swimming pool located on the property.
 
If you are currently selling your property then make sure that your sale contract meets these new conditions if it to be exchanged after August 31st
 
If your contract doesn’t have the new notice included then the buyer has the right to cancel the contract within 14 days and get their 10 percent deposit paid back, even if the contract was unconditional!
 
If you are at all confused about the Contract for Sale of Land changes then please get in touch with me for a chat, or get in touch with your solicitor or conveyance as soon as possible.

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