I recently acted on behalf of a client who was looking to purchase a property. After inspecting the property for the client and also perusing the contract for them, it was apparent that there were parts of the home that were not Council approved.
The uncertainty as to whether the property complies with Council rules and regulations can have an effect on the price, and in fact, scare buyers from making an offer.
If you are considering selling your home and you have made renovations or additions to the property, I would definitely advise that you obtain a Survey and Building Certificate from the Council which can alleviate buyers concerns. In a nutshell, a Building Certificate is a Certificate issued by the Local Council that says that the property currently complies with all rules and regulations set by the Council.
This type of Certificate is issued by the Council following a physical inspection of the property.
From a sellers point of view, the benefit of having this Certificate which can be inserted in the Contract for sale, gives the buyers certainty when they make an offer. They can bid with confidence knowing that the property complies with Council requirements.
Certainty and confidence from the buyers end, will in most cases achieve a higher sales price for the seller.
Definitely something to consider when selling. Always obtain quality legal advice from experienced professionals in property law before you sell.
Dean Carver
Property Lawyer + Real Estate Strategist
Solicitors Property Centre - Sydney
