New South Wales Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
PROPERTY AND STOCK AGENTS ACT 2002 - SECT 63
Proposed contract for sale of residential property
(1) In this section--
"purchaser" includes a grantee of an option.
(2) A real estate agent must not
offer residential property for sale unless the required documents are all
available for inspection at the real estate agent's registered office by a
prospective purchaser or agent for a prospective purchaser at all times at
which an offer to purchase the property may be made (or at such other place or
at such other times as may be prescribed by the regulations).
(3) A
real estate agent is considered to offer residential property for sale when
the agent, expressly or by implication-- (a) indicates that
residential property is for sale or is to be auctioned at any future time, or
(b) offers to sell residential property, or
(c) invites an offer to purchase
residential property, or
(d) indicates that a person may be willing to grant
an option to purchase residential property.
(4) The
"required documents" for the purposes of this section are-- (a) a copy of the
proposed contract for the sale of the property (excluding particulars of the
purchaser and purchase price), and
(b) the documents required by section 52A
of the Conveyancing Act 1919 to be attached to the contract before signature
by the purchaser, and
(c) in the case of an option to purchase
residential property--a copy of the proposed option document (excluding
particulars of the purchaser and consideration for the option).
(5) Without
limiting this section, a real estate agent is taken to indicate that
residential property is for sale if the real estate agent does any of the
following or causes or permits any of the following to be done-- (a)
advertises or promotes the property in any way that, in the circumstances, may
reasonably be taken to indicate that the property is or may be for sale,
(b)
places a sign on or near the property that, in the circumstances, may
reasonably be taken to indicate that the property is or may be for sale,
(c)
advertises or in any way gives notice that the property is to be auctioned at
any future time,
(d) places on display particulars or a description of, or a
photograph, drawing or other representation of, the property in or on any
premises, vehicle or place where the real estate agent conducts business as a
real estate agent,
(e) shows the property to a prospective purchaser or gives
the address of the property to a prospective purchaser.
(6) This section does
not apply to anything done by a real estate agent when acting on behalf of a
prospective purchaser of residential property.
(7) The regulations may create
exceptions to this section.
: Maximum penalty--100 penalty units.
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback