A critical component of the sale process is the preparation of the Contract of Sale and Vendor’s Statement (also known as a Section 32).
As a seller, there are legal obligations which must be strictly adhered to. When selling your property, we ensure that the paperwork is prepared correctly and we will fully inform you on your legal obligations. This means you can rely on your contract and prevent a buyer from rescinding (terminating) the contract.
We understand the desire to have your property listed on the market as soon as possible. We will prioritise the preparation of your paperwork and provide it to your Real Estate Agent as soon as possible to ensure your property is ready for sale.
The Vendor’s Statement (or Section 32 Statement) discloses to your prospective purchaser matters such as rates, mortgages, covenants, easements and other information that the law requires you to disclose about the property. The vendor’s statement is a legal document and must be provided to a prospective purchaser before they sign the Contract of Sale. The vendor’s statement must be correct and complete. Any incorrect, false or insufficient information will allow a buyer to take legal action or withdraw from the Sale. This is why your Section 32 should be prepared by an experienced conveyancing lawyer or solicitor.
Contract of Sale:
The contract of sale will detail the requirements of the transaction. It will also provide information such as the property’s complete address, the names of the vendor and purchaser, the purchase price and if there is an initial deposit.
The contract contains General Conditions of Sale and Special Conditions. Special Conditions are designed to protect you as a Seller.
Our special conditions are drafted to protect you in the event of a purchaser default and seeks to limit your liability to a purchaser. We can also draft special conditions to suit your particular circumstances.
We ensure that the rates and other outgoings are adjusted correctly and provide you with a copy of the Statement of Adjustments and the Settlement Statement.
We also make sure that the sale proceeds are paid to your lender (where applicable) to discharge any mortgages and get the settlement proceeds paid to you. We will advise you once the property is settled and we can arrange banking of your funds into your nominated bank account if your bank can’t do this for you.
We promise to prepare your Contract and Vendor’s statement:
Our Conveyancing Lawyers have many years of experience in residential and commercial property transactions in Melbourne and Australia-wide. We regularly work with Real Estate Agents through to mortgagees to take care of your matter and take the stress out of selling your property.
Call us on 1300 900 440 or complete the enquiry form on this page and we will get back to you promptly.
Level 10, 440 Collins Street,
Melbourne VIC 3000
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Moorabbin Vic 3189
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Chadstone VIC 3148
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Frankston Vic 3199
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Dandenong Vic 3175
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Sunshine Vic 3020