Recent changes to the Sale of Land Amendment Act in Victoria mean vendors and agents are no longer allowed to deliberately conceal any material facts about a property when selling.
In March 2004, John Myles Sharpe murdered his pregnant wife Anna Marie Kemp while she was sleeping in her bed and his 20 month old daughter Gracie Louise in her cot.
They had purchased a small house and lived in the semi-rural city of Mornington, and while he is now serving prison time, his house is recorded as selling in 2006 for a much reduced price than what the Sharpes bought it for.
New laws in Victoria will now make sure that such an event, if it occurred in a property of interest, will be revealed to buyers.
Real estate agents will be required to answer all questions from possible buyers that may affect the sale price.
Vendors and agents are not allowed to deliberately conceal any material facts about a property when selling land under the Sale of Land Amendment Act.
Other changes to the Sale of Land Amendment Bill 2019 include:
“We’re ensuring that current or future homeowners aren’t being ripped off by dishonest developers, being misled about the history of their property and that vendors who do the wrong thing are punished accordingly," said Consumer Affairs Victoria Minister Marlene Kairouz.
“Knowing they have the law behind them will give families and young people peace of mind when investing in the often-intimidating property market.”
Find out more about the amendments here.
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