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Premier: One Contract Will Slash Red Tape In The Housing Market
Premier Anna Bligh has announced a plan to slash red tape in the
housing market by creating a single contract for the sale of a
home.
The move, which is expected to be finalised by the end of
February, could decrease legal costs and reduce the number of
forms that homeowners needed from up to six down to a single
document.
"We have listened to the industry and they have been telling us
loud and clear that this is what they want," said the
Premier.
"Simplifying the paper work involved in a residential property
contract will not only help conveyance lawyers and real estate
agents but we believe the public will benefit from less paperwork
and associated costs."
Ms Bligh said that currently, requirements in a house contract
may include the need for a Sustainability Declaration, a Pool
Safety Declaration, a Warning Statement, an Information Sheet,
Disclosure Statement and of course the contract of sale.
"At the moment each one of these means a separate form, each with
a fee, and often repeating the same type of information," said
the Premier.
"We intend to rid the industry of unnecessary complications
making it easier to buy and sell a home in Queensland."
The Premier said the Government would also look at phasing out
the current 'sustainability declaration' needed to sell a
home.
"Many of the measures contained in it are increasingly being
covered by building code requirements," she said.
The Premier said her Government would now work very closely with
Real Estate Institute Queensland (REIQ) and the Queensland Law
Society (QLS) to structure the 'one contract' in the most simple
and effective way possible.
"Additionally, we also propose to discuss with REIQ and QLS the
potential to incorporate flood mapping data into the 'One
Contract', pending the recommendations of the Queensland Floods
Commission of Inquiry."
The decision to move to a 'one contract' system follows a range
of submissions to the Parliamentary Legal Affairs, Police,
Corrective Services and Emergency Services Committee and
following discussions between the Queensland Law Society, Real
Estate Institute of Queensland and the Attorney-General.
Premier and Minister for Reconstruction
The Honourable Anna Bligh
23/01/2012
Premier: One Contract Will Slash Red Tape In The Housing
Market
Permanent Link: Premier: One Contract Will Slash Red Tape In The Housing Market
Publish Date: 24 Jan 12
PO Box 15185, City East QLD 4002, Brisbane
Phone: 07 3224 2111
Fax: 07 3229 2900
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