Still forgetting to fill out the Pool Safety Inspection Date? That means the contract is conditional right up until settlement!*
*Unless a property is sold at Auction, or there is a Form 37 Pool Safety Certificate attached, the contract is subject to a pool safety inspection and the issuing of a pool safety certificate. If you do not fill in the Pool Safety Inspection Date, the contract remains conditional till:
1. The buyer waives the benefit of the clause; or
2. The buyer obtains the pool safety certificate; or
The buyer must give notice to the seller that a certificate has been issued or waives the benefit of clause 4.7 before the Inspection Date specified in the contract. If no date is specified, this right will remain till settlement.
If a date has been specified, and the buyer does not give notice to the seller or waive the benefit of the clause, the seller may terminate the contract at any stage before settlement, subject to the buyers continuous right to also terminate the contract.
Have a careful read of Clause 4.7(2) of the REIQ contract. We receive a surprising amount of contracts that are left blank in relation to the Pool Safety Inspection Date. We feel that 7-14 days should be sufficient time to satisfy this condition, and recommend filling this out in the contract or running the risk that the contract may be terminated at any stage before settlement.
If you require any assistance with the Pool Safety Inspection Date or property settlement please contact our Property and Commercial department manager Christine Martin on 07 5506 8245 or email email@example.com.