The question this week is:

"Could you please advise in what order does the Form 27b get signed i.e. 30c, BCCM Disclosure, Contract of Sale."

First - PAMD Form 27b

This form must be completed, and signed, and handed to a buyer BEFORE any contract is signed - sections 138 & 268 PAMD Act.

It should not be attached to the contract. A practice of attaching this form to the contract is likely to cause 2 problems: (1) it will be difficult to prove that it was signed before the contract, and (2) it is much more likely it will accidentally be the top page - which will cause other problems (see below).

Second - PAMD Form 30c

The Form 30c must be "attached" (not paper clipped) as the "first or top sheet" - section 366 PAMD Act.

The Form 30c must be completed, and signed BEFORE the next pages of the contract - section 366(4) PAMD Act.

Third - BCCM Disclosure

This disclosure must come immediately after the form 30c, unless the property was sold under hammer at auction in which case it must be the top page - section 206 BCCM Act.

This disclosure statement must be signed by the seller BEFORE the buyer signs the contract - section 206 BCCM Act.

This disclosure statement may be signed by an agent authorized by the seller - section 206(3) of the Act. However ... an agent who signs a disclosure statement may take the blame (and responsibility) if the statement is wrong. So an agent should seek approval from the seller and authority to sign ... preferably noting that the seller takes responsibility and should ensure the information is correct as errors may lead to cancellation of the contract and/or claims for damages.

Suggested "ideal" steps for Agent to take

1. Get information for BCCM disclosure (preferably ... by search paid for by seller).
2. For the BCCM disclosure - get seller to confirm details, take responsibility, and authorize agent to sign.
3. Prepare form 27b, form 30c, BCCM disclosure, and contract.
4. Agent signs 27b, and BCCM disclosure.
5. Form 30c and BCCM disclosure are attached to contract (form 30c top, BCCM disclosure next).

... then in meeting with buyer ...

1. Agent gets buyer to sign form 27b first.
2. Agent gets buyer to sign form 30c next.
3. Finally - the balance of contract can be signed.

The numbers on the left hand side of our graph (above)

We are asked every now and again what the numbers on the left hand side of our graph (at the top of this page) mean. 

They are actually numbers extracted by us from the Government's title searching facility.  They represent the number of enquiries & searches conducted.  This number doesn't relate directly to sales ... because there are multiple searches on each sale and there are also searches unrelated to sales (eg refinances, general enquiries, and so on).

However, we argue that the numbers show the general level of activity in Queensland, and that they are useful to give an indication of whether things are getting busier, or quieter.  A similar (and useful) index ... is that created by the banks based on the number of job advertisements published (ie - it doesn't show the number of jobs available, or the number of new jobs created ... but does show the level of activity and is useful for that purpose).