How do I navigate the disclosure process if my property has recently undergone renovations or repairs?

Gather Documentation

Gather all relevant documentation relating to the renovations or repairs. This may include permits, invoices, contracts with contractors and any warranties for the work carried out.

Full Disclosure

Give full and accurate information about the nature and extent of the renovations or repairs. Be honest about the reasons for the work, the contractors involved and the extent of the changes.

Include in the Contract

Ensure that full details of the renovations or repairs are included in the purchase contract. This should include what has been done, when it was completed and whether any warranties or guarantees will be transferred to the new owner.

Inspect the Property

Carry out a thorough inspection of the property to identify any problems that may need renovations or repairs. Address these issues or disclose them to potential buyers.

Disclosure Statement

A disclosure statement is now required by law. This new law mandates that sellers provide buyers with a disclosure statement and any relevant prescribed certificates, including a body corporate certificate. This ensures that buyers have all the necessary information before making a purchase decision.

Highlight Improvements

Highlight the benefits of the renovations or repairs, such as improved functionality, energy efficiency or aesthetic enhancements. Emphasise how these improvements add value to the property.

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Answer Questions

Be prepared to answer any questions potential buyers may have about the renovations or repairs. If they have any concerns, address them openly and honestly.

Provide Contact Details

If possible, provide contact details for the contractors who carried out the work. This will allow potential buyers to contact them for additional information or clarification.

Professional Advice

It’s advisable to consult legal and real estate professionals who are experienced in Queensland property transactions. They can advise you on the correct disclosure procedures and legal requirements.

Be Flexible in Negotiations

Be open to negotiating renovations or repairs. Some buyers may wish to adjust the price or terms based on the information disclosed.

Complete Documentation

Ensure that all relevant information is included in the property disclosure statement. This includes details of contractors, permits, warranties and any maintenance recommendations.

Navigating the disclosure process regarding recent renovations or repairs demonstrates your commitment to transparency and helps potential buyers make informed decisions. Working with a knowledgeable estate agent can also help you manage this process effectively.

Looking for Real Estate Agents Gold Coast Australia and you’ve found yourself here, so let’s chat over a coffee about the process of selling your home and how it all begins. Craig Douglas, your local Gold Coast Real Estate Agent 0418 189 963

Author – Craig Douglas

Please Note: The information contained in this document is for general information purposes only and does not constitute legal advice. The laws and regulations governing the sale of property in Queensland are complex and constantly changing. It is important to seek the advice of a qualified property lawyer or conveyancer before making any decisions about the sale of your property. This document does not take into account your individual circumstances and may not apply to your situation. By reading this document you agree that you have not relied on the information contained herein and that you will seek independent legal advice before taking any action.

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This page was proudly created by Craig Douglas, your local independent Gold Coast real estate agent, working for a Boutique Real Estate Agency. Selling residential and commercial properties, from those that are awe-inspiring, through to a diamond-in-the-rough, otherwise known as a “renovator’s delight”.

I negotiate and sell on behalf of property owners who want to get the best possible price with the least amount of hassle. Let’s talk about the process of selling your property over a coffee to get you started – 0418 189 963