This property is ideal…except for the bad neighbours
Under new legislation released earlier this month The Australian Competition and Consumer Commission (ACCC) gained greater power to fine agents for failing to inform home buyers about rowdy neighbours or a property’s bad past.
These changes came into effect on July 1, as agents face penalties of as much as $1.1 million for misleading or neglecting to inform home buyers if a murder had occurred on the property in the past or for keeping a lid on noisy neighbours or barking dogs.
These new disclosure laws protect consumers and give them greater confidence when looking at buying a new home.
July 2010
