QLD property buyers to benefit from streamlined process
If you are thinking about buying a property in Queensland this year, you may be heartened to know that the process is likely to get a lot simpler from the end of this month.
Paperwork can be a headache in many circumstances - and when it comes to purchasing a home, the process can become repetitive, as many different individuals require similar information.
Fortunately, Queensland premier Anna Bligh agrees - and last month, she announced that the government intends to implement the One Contract policy, which will cut down on paperwork and red tape for property buyers.
Currently homebuyers may need to provide up to six documents - each with their own procedures and fees. Information is often repeated between the documents and a separate form is usually required for each - a hassle for buyers, as well as real estate agents and conveyance lawyers.
Community titles schemes, sustainability declarations, warning statements and even pool safety certificates are issued separately, resulting in a time-consuming and ineffective process.
"We intend to rid the industry of unnecessarily complications, making it easier to buy and sell a home in Queensland," Bligh asserted last month.
The One Contract initiative has been met with praise by the Real Estate Institute of Queensland (REIQ).
Anton Kardash, chief executive officer at the REIQ, said: "These forms and documents are required to be given under different pieces of legislation which are in turn administered by different government departments, so it makes sense to introduce a single regime which incorporates the existing requirements into one document."
He also pointed out that the REIQ supports a move to phase out sustainability declarations, which have minimal bearing on whether or not a buyer will choose a particular property.