A Section 32 is the statement made by the Vendor (Seller) on the state of the property as required by the Sale of Land Act, Section 32.
There are 9 parts of the Section 32 where the Vendor is obliged to disclose information relating to the property, failure to disclose information could make the contract void. These include:
At Central Victoria Conveyancing, we ensure that the vendor has support in preparing the Section 32, we have a comprehensive questionnaire that we have prepared to make sure all the information required is included. The Vendor Questionnaire is completed at the same time as the Verification of Identity at the initial appointment.
As conveyancer’s we compile all the information do the relevant search’s and obtain the certificates to verify the information, this can take up to three weeks to prepare depending on the type of sale and locality. When complete we send it to the Vendor to review and sign. Occasionally the Vendor may notice items they may not have been aware of and may need to take action to make the property compliant. When the Vendor has signed the Section 32 it is ready for the purchaser.
It is important to note the Section 32 must be given to the Purchaser prior to them signing the contract.
When we represent the Purchaser, our role is to make sure the information provided is correct, advise the purchaser of any areas of concern and investigate then obtain a final searches and verify the amount of financial obligations are outstanding on the property.
At Central Victoria Conveyancing, as Victorian farmers and former city dwellers, we understand all your Victorian country, suburban and city property concerns. We are with you all the way through your transaction, we are always available to discus any concerns or questions you may have in a friendly and easy to understand way with no unnecessary legal jargon.
Whether you are a first home buyer or looking to upsize or down size from your current home, a business looking to buy or sell, a developer looking to subdivide, an investor looking for your best options, or a farmer selling land ( we can help with water shares too), our team at Central Victoria Conveyancing can help you with advice and legal professional property services to suit your requirements and needs.
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