Preparation Of Section 32 Vendors Statements
Selling your property requires pinpoint attention to detail. Pre-sale matters need to be handled with the utmost care and seriousness since, for most, it’s an important decision. Selling, for example, demands various duties, responsibilities and legal compliance from the vendor (seller). If dissatisfied, the purchaser can cancel at the last moment, or worse, quickly commence legal proceedings.
Having hands-on knowledge of the laws and how they do the heavy-lifting in court, Mr Coveyancer will lead you through to the right direction, always keeping you aware of your interests, rights and legal duties.
Pre-sale Legal Advice
From a sellers point of view, Mr Conveyancer’s pre-sale Legal Advice incorporates handling all lengthy complex paperwork, insurance, finance, inspections, and many more. We take the pain of gathering all requisite Certificates, Licenses and Permits from the Local Council/Court. At times, there are things outside the public record, such as shared fences or passages.
As your legal conveyancer, we take absolute care for your sale, and advise you in various matters of law, finance and inspection, to make your property sale more lucrative in this competitive market.
Under the Sale of Land Act 1962 (Vic), Mr Conveyancer assists clients who are selling property, by drafting the best Section 32 Vendors Disclosure Statement— which is a long-drawn disclosure document stating everything a property has to declare.
Any details missed in a Section 32 can lead to future litigation and the purchaser having the ability to back out of the sale. Reckless and deliberate false information can even lead to a criminal offence. Section 32 Vendors Disclosure Statements must always be handled by a proficient lawyer in Victoria, such as Mr Conveyancer.
A Section 32 Vendors Disclosure Statement will declare all such material facts about the land, building and future prospects of the property, that any purchaser should be made aware of. A Section 32 Vendor Statement will generally have:
- Warnings of general issues such as structures, termites, flammable cladding, damp, asbestos and safety declarations (if located in a bushfire prone area).
- Details about any mortgages on the land and/or building, if any;
- Notices and permits related to land usage;
- Information related to any Owner’s Corporation;
- Particulars of any owner-builder warranty insurance
- Present and past Legal matters (including caveats, covenants and easements) on the property.
As far as compliance to all laid down rules is concerned, be assured that our solicitors are regularly updated. Mr Conveyancer will make sure you know your rights and duties, and comply and act accordingly.
What should you do?
If you want to sell property, be it an off-the-plan, flat or an old house in the suburbs, call Mr Conveyancer today. We are active around Victoria and we ensure that all steps taken are towards your future interests.
If you are selling your home or property, have all your doubts cleared and get the best advice from Mr Conveyancer. We protect our seller’s current and future rights, reducing the risk of the purchaser pulling out of the sale. We don’t just make you read a contract. We make sure you understand the responsibilities and consequences of your property sale.
Mr Conveyancer is here to offer a complete solution to meet your needs. We have a ‘can do’ attitude and understand that timely and professional attention to detail is required for the best property transaction outcome. We will help you save time and money. Click here to contact us today and explore our quality service and legal conveyancing solutions. Your property deserves the assistance, quality and skill that we offer.
When purchasing property in Victoria, you must ensure that the seller complies with Section 32 of the “Sale of Land Act” in Victoria. This law requires a seller to make certain disclosures about the property prior to the signing of the contract of sale. This is usually embodied in a document called Section 32 Statement.
A Section 32 vendors disclosure statement is intended to protect the buyer of real estate by compelling the seller to provide certain statutory information about the property that can guide the buyer in their decision on whether or not to make the purchase.
What is in a Section 32?
The information required include details and attachments about the seller and their right to sell the property, existing mortgages or encumbrances on the property, restrictions such as easement or zoning classification, building permits issued for the past 7 years, and other statutory information and warnings to the purchaser.
What happens if my Section 32 is defective?
Compliance with the Section 32 vendors disclosure statement requirement is necessary in every property conveyance. Failure to comply with this requirement gives the buyer the right to cancel the sale. The seller who intentionally or negligently fails to provide the true and correction vendors disclosure statement may also face criminal prosecution.
How long can a Section 32 be valid for?
There is no legally defined expiry date for a Section 32, and it is generally dependent on a range of factors individual to a client and their property, but we generally advise all of our clients to update their Section 32 every 3 months. If there is any uncertainty about the validity or a section 32, including any of the attached documents, you do not want it to be discovered at the last minute, and delay your sale, auction or next property settlement!
Ok, Mr Conveyancer, please prepare my Section 32 now!
If you are selling your property and need a Section 32 vendors disclosure statement prepared, please contact our office and we can have one quickly prepared for you. To get started speak with the team from Mr Conveyancer today by calling (03) 7038 3550 or email firstname.lastname@example.org