Vendors Warranties in Residential Property Transactions:

When selling a property there are warranties in the Agreement for Sale and Purchase that a vendor gives to the purchaser at the time of signing the Agreement, at settlement and on or immediately after settlement.  Such warranties refer to:

• Any works on the property being compliant.

• Any notice or demand received, or knowledge of any requisition or outstanding requirements, and any consent or waiver given, which directly or indirectly affects the property.

• Any knowledge or notice of any fact that may result in proceedings against the parties.

• The chattels included in the sale.

• All electrical and other installation included in the sale being unencumbered. 

• Charges such as rates will be apportioned.

• Notice of the sale will be given to the local authorities.

Before signing an Agreement for the sale of your property it is prudent to be aware of the warranties you are giving, as a vendor, as there could be significant financial implications, should there be a breach of any of these warranties.

Our firm is happy to review the Agreement prior to signing, or alternatively you can request the Real Estate Agent to insert a Vendor’s Solicitors Clause in the Agreement which will enable us to discuss the Agreement with you within a reasonable time.