The Queensland Parliament has passed the Property Occupations Act 2014 (POA) which, once commenced, will substantially change the existing Property Agents and Motor Dealers Act (PAMDA) disclosure requirements.
At this stage, there is no confirmed date for the commencement of POA.
We understand that advice is currently being given to Selling Agents by some Solicitors that PAMDA no longer applies. It is important to note that until the POA commences, the arrangements set out in PAMDA will still need to be followed.
It is understood that the REIQ Residential Contracts will be changed to incorporate the provisions of POA, and will also include some additional changes to the Standard Conditions.
If you have any queries regard either the new POA or the existing PAMDA requirements, kindly let me know.