While listing a home, the agent learns that three years ago it was the scene of a manslaughter. The vendor asks the agent not to mention it to buyers unless they ask. What must the agent do?
Correct Answer
B) Disclose it to prospective buyers, because it is a prescribed material fact
Section 52 of the Property and Stock Agents Act 2002 prohibits inducing a person to enter a contract by failing to disclose a prescribed material fact the agent knows or ought reasonably to know. Clause 60 of the Property and Stock Agents Regulation 2022 prescribes that, within the last 5 years, the property was the scene of a murder or manslaughter. A vendor's instruction cannot authorise the agent to breach this duty.
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A vendor's solicitor adds a special condition saying the purchaser cannot claim damages for any misrepresentation about the land. How effective is that clause in NSW?
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The Australian Consumer Law (ACL), as applied in Queensland, prohibits real estate agents from engaging in: