Home Purchasers (Anti-Gazumping) Bill 1998

Public bill · Private Member · Introduced

The proposal would protect home buyers who pay a booking deposit from “gazumping” by requiring the seller to provide the contract and title documents within 14 days and preventing another sale agreement for a further 14 days. If the buyer signs and pays the balance of a deposit of up to 10%, the seller must complete the sale; breaches could lead to fines, compensation and, for repeat offences, imprisonment.

Formal long title

Bill entitled an Act to prevent vendors from unreasonably increasing the sale prices of real and chattel real residential properties

Last updated 12 April 2018