Do you disclose the crazy neighbours?

Do you disclose the crazy neighbours? If the recent WA Supreme Court decision to allow a buyer to rescind her contract on the purchase of a $390,000 unit is anything to go by, the answer is yes!

It is always a difficult line to walk, the fiduciary obligations to the vendor and the duty of care to the buyer.

The disclosure of material information such as non-conforming structures, air conditioners that don't work and the like is easy, but the neighbour who is sometimes cranky or the guy upstairs that likes to bootscoot at 2am, does that fall into the realm of material disclosure?

Buyers are not represented in 99% of transactions in Australia. With the ever increasing disputes being lodged with DMIRS and legal proceedings such as this case, should there be a push for buyers to seek representation when negotiating to purchase their largest asset?

Does this Supreme Court ruling open a can of worms? Time will soon tell.

Paulette Contessi

Licensee / Director

THE CONTESSI GROUP

If you are about to enter into negotiations to purchase your next property, speak with The Contessi Group's Buyers Advocacy team to represent your concerns.