PLANS are in the pipeline to condense the paperwork required to sell a property in Queensland.
According to online industry website, Real Estate Business, “The move, (to condense six documents into a single document) which may come into effect as early as late February, is expected to reduce legal costs and cut the number of forms that homeowners often require to sell their property.”
The website quoted Queensland Premier, Anna Bligh, as saying, “currently, requirements in a house contract may include the need for a Sustainability Declaration, a Pool Safety Declaration, a Warning Statement, an Information Sheet, Disclosure Statement and of course the contract of sale.
“At the moment each one of these means a separate form, each with a fee, and often repeating the same type of information,” the Premier said.
“We intend to rid the industry of unnecessary complications making it easier to buy and sell a home in Queensland.”
The move has been welcomed by industry members including Properties On Bribie Principal, Margaret Price.
“It’s about time,” Ms Price said.
“Recent changes to contract documents and the process involved in the signing of those documents opened up a minefield.
“The proposed single document will hopefully omit the current illogical procedures required by agents as part of the contract process.
“Having a more commonsense approach to the legal documentation and the processes required to be undertaken during the signing of that document when purchasing a property in Queensland should result in a more fluid and uncomplicated process,” Ms Price said.
“Some of the processes involved when purchasing a property in Queensland, under the current format, appear to assume that property buyers have no commonsense.
“For example, we (industry) knew before the Sustainability Declaration was introduced that it would be a waste of time, energy and resources that it (the form) was supposed to save.
“ I welcome any opportunity to streamline the property sale and purchase process and the associated reduction in costs and legal fees,” Ms Price concluded.