In some rare circumstances, if a property is affected as at the contract date because:
a) its present use is not lawful;
b) the land or common property (if the property is within a community titles scheme) is affected by a proposal of a competent authority, for example, transport infrastructure;
c) access or any services to the land or common property (if the property is within a community titles scheme) passes unlawfully through other land;
d) an authority has issued a current notice to treat, or notice of intention to resume the land or common property (if the property is within a community titles scheme) ;
e) the property is affected by the Queensland Heritage Act 1992 or is included in the World Heritage List;
f) the property is declared acquisition land under the Queensland Reconstruction Authority Act 2011;
g) there is a charge against the land under the Foreign Acquisitions and Takeovers Act 1975;
and this is not disclosed in the contract by the seller, the proposed buyer may be able to terminate the contract up until settlement. If the proposed buyer does not terminate in accordance with the contract, then the proposed buyer will be treated as having accepted the property subject to these issues.
When it comes time to move out of home or change rental accommodation, one of the biggest considerations is to whether to live alone or to share with housemates. Strong arguments can be made for both and it comes down to the lifestyle you want to have. Here are some points to keep in mind:
Seller may not be aware that a contract for the sale and purchase of real estate property usually requires the seller to provide some forms of warranty to the proposed buyers.
These warranties usually involved various things that could affect the property such as correctness of title, capacity to complete, no judgments, orders or writs affecting the property, no unregistered dealings, no notices of body corporate meetings (if the property is within a community titles scheme) and no obligation to give a notice required by the Environment Protection Act 1994.
The seller should be aware that if the seller breaches any of these warranties, the proposed buyer generally may either:
(a) terminate the contract by no later than 2 days before settlement; or
(b) elect to claim compensation against the seller before settlement and proceed to completion.