A Section 32 vendor statement (also called a vendor’s statement) is a mandatory disclosure document required under section 32 of the Sale of Land Act 1962 (Vic). It must be provided by the vendor to the purchaser before a contract of sale is signed. The statement discloses important information about the property including: title details and any encumbrances, mortgages, or caveats; zoning and planning restrictions; outgoings such as council rates and owners corporation fees; building permits issued in the past seven years; and any notices affecting the property. A purchaser should never sign a contract without first having a conveyancing lawyer in Victoria review the Section 32.

Buying property in Victoria involves the following key steps: (1) Review the Section 32 vendor statement and contract of sale with your conveyancing lawyer before signing; (2) Pay the deposit (typically 10% on exchange, though this is negotiable); (3) Your conveyancing lawyer conducts title and planning searches at Land Use Victoria and checks for any adverse interests; (4) If subject to finance, ensure your finance approval is obtained within the contractual timeframe; (5) Pre-settlement inspection of the property; (6) Settlement — your lawyer arranges the electronic transfer of funds and title through PEXA; (7) Post-settlement lodgement of transfer of land documents and stamp duty payment. We act for purchasers across Melbourne, Frankston, and the Mornington Peninsula.

Selling property in Victoria requires the vendor to: (1) Engage a conveyancing lawyer to prepare the contract of sale and Section 32 vendor statement before the property goes to market — this is a legal requirement under the Sale of Land Act 1962 (Vic); (2) Have the property listed and sign the contract when a buyer is found; (3) Respond to any requisitions raised by the purchaser’s lawyer; (4) Attend to any special conditions in the contract; (5) Arrange discharge of any mortgages with the lender; (6) Effect settlement through PEXA on the agreed settlement date and receive the net sale proceeds.

The First Home Owner Grant (FHOG) is a Victorian Government grant available to eligible first home buyers purchasing or building a new home. It is administered by the State Revenue Office of Victoria. The grant amount and eligibility conditions change periodically — currently a grant is available for new homes in regional Victoria. In addition to the FHOG, first home buyers may be eligible for a stamp duty concession or exemption on properties below certain thresholds under the Duties Act 2000 (Vic). We assist first home buyers to claim all available grants and concessions.

Settlement is the completion of the property transaction. In Victoria, most settlements are now conducted electronically through PEXA (Property Exchange Australia), the national e-conveyancing platform. At settlement, the balance of the purchase price is electronically transferred to the vendor, stamp duty is paid to the State Revenue Office, any existing mortgage is discharged, and the transfer of land is lodged with Land Use Victoria to register the purchaser as the new owner on title. On the day of settlement, the purchaser receives the keys and the property is theirs.