Understanding Real Estate Contracts In Victoria

Matthew Scafidi
October 29, 2017

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DIRECTOR, AUCTIONEER, LICENSED ESTATE AGENT

Before a property is sold, a vendor must provide a buyer with a Section 32.

The reason it’s called a Section 32, it refers to the section 32, the Sale of Land act in 1962. Essentially what this document is, is it presents all the information a buyer needs to know about the house with outgoings, rates, any issues with the property. It’s basically like a clean document that the buyer needs to understand everything about the home before entering into the project.

This is generally provided by the conveyancer, or the vendor, or solicitor. It can also be referred to as the ‘vendor statement’, so don’t be confused if sometimes you think is it the vendor statement or Section 32 – they’re exactly the same thing.

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