In this blog/video, we explain a real situation that happened in our firm a couple of weeks ago, when preparing a Form 2 Seller's Disclosure for a client.
Everything looked normal - the client's ID was checked, payment received, seller questionnaire completed. That was, until our searches revealed a showstopper...
Prefer to watch/listen? Click here to consume this content via YouTube!
Hi everybody - George Sourris, Empire Legal.
Today's topic: Let me tell you a real story about a Form 2…
Story time! Today I'm going to tell you a real story about a Form 2. This situation happened to us only two weeks ago. Real client, real situation. We were engaged to prepare the Form 2 Seller's Disclosure. The client did all the usual stuff - made the payment so we could order the searches, filled out the onboarding questionnaire, completed their ID checks.
All was looking good and "normal". On the intake questionnaire with our firm, the client had ticked "no" to the question about whether the property was on the Contaminated Land Register. Under Queensland Law, sellers must disclose whether a property is on the Environmental Management Register, (EMR), or Contaminated Land Register (CLR) before the buyer signs the contract.
Section 408 of the Environmental Protection Act 1994 (QLD) makes this a legal requirement. Failing to do so can leave the seller exposed to penalties and give the buyer rights to terminate. This is legislation. The law. Some may just take the client's word and proceed not to order the $50 search and "get on" with putting the form together.
There are a lot of moving parts in preparing Form 2 Seller's Disclosures. At Empire Legal, we never just take a box ticked at face value. As part of our standard pack of searches, we dig deeper, and in this case, it paid off. Our search revealed that the property was in fact on the contaminated land register.
Now imagine if that had been missed. If the buyer obtained the search themselves and found the vendor's disclosure was incorrect, the buyer can terminate the contract. Yes, even after fall of the hammer at auction. And yes, even after the property goes " unconditional".
This is why using a full service property law firm matters. A cheap provider may skip key searches to keep costs low, but that shortcut can cost you a lot more in the long run. Oh, and using a "tech solution" isn't necessarily any better either. You want real lawyers - best in class looking after you. Our senior team are conducting thorough due diligence on each property to draft sellers disclosure forms instead of treating it like a tick and flick service.
By the way guys, if you're not sure what a "tech solution" is, it's basically where you just press a couple of buttons and everything gets compiled together. That might be a "compliant" form, but it's not necessarily a thorough form. And as we know, buyers that get cold feet - first thing their lawyers are going to do is look at this Form 2, to try and get them away out.
We want to make sure that ours is done in a manner where that's not going to happen and it's bulletproof.
Who you choose to refer your clients to is a direct reflection on your own brand, because that is trust, and trust is the key factor to good business. Not a sneaky kickback, just picking the best in the business to get a good job done.
When it comes to Queensland property law, it's what you don't know that can hurt you the most. Our client was protected, because we caught the issue before it became a problem. That's the Empire Legal difference. We don't cut corners. We don't skip the essentials, and we just don't take someone else's word for it.
Because when you're dealing with a six or seven figure property purchase, you can't really afford to gamble on a tick box or a shiny tech solution that promises the world. We've earned every single one of our 2,700+ Google reviews, with a 5.0 star average.
Before you pick someone to do your Form 2's, Google them, read their Google reviews. You don't want the guys that have just a few reviews under their belt. You want a trusted choice. We've already prepared hundreds of compliant Form 2 packs for our clients and referral network, and we will continue to do so with integrity, not letting anything short of top-notch legal work leave our doors.
Are you ready to experience the Empire Legal difference?
Get in touch with us today. Everything you need to get started is available on the website. And good news real estate agents - we are taking on more work. So if you do have clients that need a hand and you want to start referring and working alongside the best conveyancing firm in the State, get in touch with us.
We'd love to help. Or you can email me direct - george@empirelegal.com.au and let's connect. We want our mutual clients to have the best experience in property.
Guys, that's it for this week. Hope you learned a thing or two. Please feel free to get in touch if you've got any questions. Empire Legal - happy to help. Queensland's trusted choice for conveyancing. Over 2,700 Google reviews with a five star average. There's not many firms out there that have that five star average. With that many reviews, guys, and not to mention over 12,000 deals settled. Thanks guys. We'll see you next week.
Finally, if you haven't heard, we've launched our podcast. It's called Raising the Bar, where we story tell excellence in Queensland property. Here is the link to listen. If you prefer to watch, here is the YouTube link.
Also, stay up to date with our miniseries on Seller's Disclosure.
Thanks guys. We'll see you next week!
If you know anyone that is involved in Queensland property, or is just genuinely curious - send them our page, send them our channel. It's all free content. We just want to help you be armed with the tools to make good decisions. Check out our website for more blogs. We've got over 100!
We want to help you. If you've been listening to us for a while, but you haven't made contact, please do! We want to help people buy and sell homes and deliver QLD's best conveyancing experience. Thanks guys, we'll see you next week.
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If you have any questions, you can email me: george@empirelegal.com.au.
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Thanks for reading everybody. See you on the next one.
Ladies and gentlemen, please keep in mind that all advice is general in nature and does not constitute legal advice. This is authorised by George Sourris, Empire Legal, Brisbane, Queensland, Australia.
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Note: all information is general in nature and as each matter is unique please contact our office for tailored advices: the above does not constitute legal advice.