Recorded Webinar: Mind the Gap - Beyond the Disclosure Obligations in Residential Property Purchases (Vic)

The law requires sellers of residential properties to disclose certain matters affecting the property, and these obligations have increased over the years, with Victoria having the tightest rules in the country governing disclosure. Nevertheless, for matters where specific disclosure is not mandated, what more does a conveyancer need to do to protect their purchaser client? This session will outline the disclosure regime and provide a guide to why and when conveyancers need to go that extra step, including:

• An update on vendor disclosure obligations under the Sale of Land Act and other legislation
• Common disclosure failures
• Consequences of failure to comply with disclosure obligations:

• penalties
• contract rescission and damages
• practitioner disciplinary action

• What can conveyancers for vendors do to protect themselves from claims?
• What further investigations should a prudent purchaser and conveyancer make? A discussion of:

• owners corporation rules
• proposed neighbouring developments
• building condition reports and permits
• accuracy of boundaries and land dimensions
• cladding and other building defects
• chattels v Fixtures
• additional off the plan development material

• Can a conveyancer be negligent if they fail to advise the client to make additional searches?
• Cases and examples of disclosure failures
• The benefits of going that extra mile and minimising risk.