« Index of all Property & Leasing eNews articles | October 2009


Special condition designed for "emotional defects"

How do you go about selling a home with "emotional defects" - features that do not relate to title and which are not apparent in the physical structure - but might make it less enjoyable to some buyers?

all PAMDA procedures explained in your own time and at your pace. Visit our PAMDA learning centre in LawSpace! Online access to contract special conditions and legal forms included. Apply now for FREE LawSpace membership!

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Do you have to tell prospective buyers about a home's regrettable history even if it has no connection to the building's structural integrity?

We are talking about "character flaws" in real estate. An example is where a house had been the scene of a crime.

Our May 2008 eNews discussed how in NSW, a real estate office was held responsible for not disclosing what they knew of the history of the home in which a murder had occurred.

Such "emotional defects" or "character flaws" really relate to superstition or emotion.

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A Sydney solicitor has devised a contract special condition he claims will overcome just about any "emotional defect" or scandal. According to the solicitor, David Crapp, if there is not a problem with the house, it must come from the "the purchaser's imagination".

Carter Capner Law believes this type of "defect" can indeed be covered in a contract special condition. Naturally, the agent must still disclose what they know but the special condition will prevent a buyer subsequently deciding that any "emotional defect" was material to them.

You will find our "emotional defect" special condition in our Queensland Conveyancing Clause Library in LawSpace.

 

LawSpace membership has many other business benefits for agents:

  • up-to-the-minute online after-sales progress reports (electronically updated) for all contracts where Carter Capner Law act for buyer or seller;
  • monitor transaction progress and view/print transaction documents online;
  • see all finance, inspection and settlement changes without having to pick up the phone;
  • your client has access to the same on-line information - end phone run-arounds forever – everyone kept in the loop

Apply now for FREE LawSpace membership!

"Thanks to a wonderful team of genuine troopers! I would recommend Carter Capner unconditionally."
Shannon

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