(a)
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Section 206 (1) of the Body Corporate and Community Management Act 1997 (the Act) requires the Seller of a lot included in a community titles scheme to give a person who proposes to buy the lot, before the buyer enters into a contract to buy the lot, a Disclosure Statement.
The Body Corporate and Community Management Act 1997 provides in Section 206(1):
“The Seller of a lot included in a community titles scheme must give a buyer who proposes to buy the lot, before the buyer enters into a contract to but the lot a Disclosure Statement complying with Section 206(2) to (4)”.
Section 206(2) to (4) detail the information which must be supplied.
The information required to be provided in the Disclosure Statement is set out in Section 206(2) to (4) of the Act and is available from the body corporate’s records. The Disclosure Statement must be substantially complete, current and signed by the Seller or a person authorised by the Seller. (Section 206(3) & (4))
The Disclosure Statement complying with the Act must be attached as the first or top sheet of the contract when it is entered into.
The Agent having been appointed to sell the Sale Property is by this Authority authorised by the Seller to:
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(a)
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Sign as Agent for the Seller the Statement required under Section 206 of the Act.
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(b)
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The Seller will provide or cause to be provided the following information:
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(i)
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The name, address and contact telephone number for:
1.The Secretary of the Body Corporate; or 2.IF it is the duty of a Body Corporate Manager to act for the Body Corporate for issuing body corporate information certificates – the Body Corporate Manager; and |
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(ii)
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State the amount of annual contributions currently fixed by the Body Corporate as payable by the owner of the lot; and
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(iii)
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If the seller is the original owner and the contribution schedule lot entitlements for each lot included in the scheme are not equal – state the reason stated in the community management statement for the lot entitlements not being equal; and
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(iv)
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Identify improvements on common property for which the owner is responsible; and
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(v)
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List all Body Corporate assets required to be recorded on a register maintained by the Body Corporate; and
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(vi)
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Identify the regulation module applying to the scheme; and
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(vii)
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Include other information prescribed under the regulation module applying to the scheme.
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(b)
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The Seller as owner of the Property authorises and directs the secretary of the Body Corporate or the Body Corporate Manager to:
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(1)
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provide a Disclosure Statement or details sufficient to complete a Disclosure Statement to the Selling Agent in accordance with Section 206(2) of the Act.
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(2)
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Provide body corporate records as requested by the Selling Agent to verify Seller’s warranties, update any Disclosure Statement details and provide where necessary a copy of the Community Management Statement for the Scheme.
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(c)
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The Seller as owner of the Property authorises the Selling Agent to sign, where necessary, the Disclosure Statement on the Seller’s behalf.
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(c)
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Should the Seller require the Agent to search the Body Corporate records to obtain the relevant information, the Agent will rely on the records available at the time of enquiry.
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(d)
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The Seller will pay any fee payable to the Body Corporate and/or search agent for providing and obtaining the relevant information
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(e)
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The seller must ensure the relevant information is current and otherwise authorizes the Agent to have the Body Corporate records searched for such updated information at the Seller’s expense.
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(f)
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The Seller will reimburse the Agent for any costs and outlays incurred under this Authority.
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(d)
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In granting this authority the Seller acknowledges it is the Seller’s responsibility to:
•ensure all information provided is correct and current. •pay any fee payable to the Body Corporate and/or search agent for providing and obtaining information. •reimburse the Agent for any costs and outlays incurred under this Authority. |