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.