All Topics / Help Needed! / Couple of Special Condition

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  • Profile photo of investhutinvesthut
    Member
    @investhut
    Join Date: 2007
    Post Count: 73
    February 17, 2012 - 12:39 am

    Hi All,

    just posting it here as well, as its more active here.

    I know I should discuss with my solicitor, but this one is in auction and less time..

    only trying to understand what they mean or if anyone can explain them

    1) 
    For the purpose of the Conveyancing Vendor Disclosure and Warranty regulation 1986, the Vendor specifically discloses that the property may lie within an area over which the Electricity Commission holds a petroleum exploration licence for oil and gas pursuant to the Petroleum Act 1955. The purchaser shall make no requisition, objection or claim for compensation whether under condition 7 or otherwise by reason of any matter or thing disclosed in this condition.

    2) the vendor discolses that notwitstanding any contrary references in Section 149 zoning Certificate annexed hereto S.E.P.P 28 has been repealed and some provisions of SEPP 25 and SRPP 12 allowing for subdivision of dual occupancies and associated cluster or townhouse development have been repealed and no objection, requisition or claim for compensation shall be made by the purchaser of these accounts or in respect of such inaccuracies in the said annexed 149 Zoning Certificate.

    thanks, this is for home sale in western sydney, 15 minutes waslk to station, in betweek all residential home only…

    1) i am seeing for first time ever….

    2) i am thinking current owner tried for dual occupancy, but coucil rejected, thats how I am guessing it.

    680 sqm block.

    thanks investhut

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404
    February 17, 2012 - 5:50 am

    If you don't know what it means you really MUST get your solicitor to look at it. No time? Send it to him. He can read it and get back to you. I sent mine a contract Monday morning asking if there was anything scary in it. They rang back Monday lunchtime with an answer.

    I wouldn't risk my money buying something that may be a dud. If you can't do anything with it or sell it, what's the point?

    Profile photo of investhutinvesthut
    Member
    @investhut
    Join Date: 2007
    Post Count: 73
    February 19, 2012 - 2:38 am

    hi all,

    i did get response from them, it was just short notice and half the time they are in city..

    in short both are very normal conditions for everyones knowledge and some solicitors just choose to put everything under the sun the cover the vendor.

    but confirmed by my solicitor nothing to worry abt and 99.9% you can ignore them.

    regards,

    investhut

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