Recent EQC changes will impact buyers and sellers
The Earthquake Commission (EQC) has recently passed an Amendment Bill in Parliament that will allow EQC to share information about claims lodged for residential property damage due to natural disasters.
Potential buyers who are interested in a property can now request previous claim information directly from EQC. However, they will not be provided with any of the vendor’s personal details. REA recommends that you or your vendor request this information directly from EQC and provide it to buyers during the disclosure process to prevent unnecessary delays.
You can use EQC’s Official Information Act (OIA) request form, which is used in accordance with the Privacy Act to obtain the history of a claim with EQC — the form is avaliable here.
For more information on these changes visit the EQC website.
Read more about your disclosure obligations when listing a property in an area at high risk of a natural event here.