WHAT DO AGENTS HAVE TO REVEAL ABOUT A HOME’S HISTORY?
If your walls could talk, what would they say? If you’ve bought a house from a real estate agent, you should already know the answer.
Under Australian common law, vendors and real estate agents are required to disclose any information considered to be a “material fact” to prospective property buyers. This includes instances that have occurred on a property such as murder, violent crime and even the suspected presence of ghosts.
“A material fact is a fact that would be important to a reasonable person in deciding whether or not to proceed with a particular transaction,” says Tim O’Dwyer, property lawyer and author of Real Estate Escapes.
