FAQ
Conveyancing is the legal process of transferring ownership of real property from one party to another. In Victoria, conveyancing is governed primarily by the Sale of Land Act 1962 (Vic) and the Transfer of Land Act 1958 (Vic). The process covers everything from reviewing the contract of sale and Section 32 vendor statement, to conducting title searches, managing the exchange of contracts, calculating adjustments, and effecting settlement. A conveyancing lawyer in Victoria protects your legal interests throughout the transaction.
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: through PEXA, your lawyer arranges the electronic transfer of funds, pays the land transfer duty and lodges the transfer of land; (7) After settlement, Land Use Victoria registers you as the new owner on title. 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.
Stamp duty, now called land transfer duty in Victoria, is a state tax payable by the purchaser on the dutiable value of a property transaction. It is administered by the State Revenue Office of Victoria under the Duties Act 2000 (Vic). The rate is calculated on a sliding scale based on the purchase price, and can be a significant cost in a property transaction. Certain exemptions and concessions are available, including for first home buyers and pensioners. Your conveyancing lawyer in Victoria will calculate the stamp duty payable and advise on any applicable concessions.
The First Home Owner Grant (FHOG) is a one-off $10,000 Victorian Government grant for eligible first home buyers who buy or build a new home valued at up to $750,000. It does not apply to established homes, and the same grant applies in Melbourne and regional Victoria. At least one applicant must be an Australian citizen or permanent resident, and at least one applicant must live in the home as their principal place of residence for 12 continuous months, starting within 12 months after settlement or completion of the build. The grant is administered by the State Revenue Office of Victoria; you can apply through an approved agent (usually your lender) or directly with the State Revenue Office. In addition to the FHOG, first home buyers pay no land transfer duty on a home valued at up to $600,000 and reduced duty on a home valued up to $750,000 under the Duties Act 2000 (Vic). Grant amounts and conditions change from time to time, so we check them against the current State Revenue Office rules for each purchase and help you claim the grant and any duty exemption or concession you are entitled to.
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.
In Victoria, both licensed conveyancers and solicitors (lawyers) are authorised to conduct conveyancing. However, a conveyancing lawyer provides a broader scope of advice, including identifying legal risks, advising on unusual contract conditions, negotiating amendments, and providing advice on related legal matters such as stamp duty, ownership structures, and planning law. If complications arise during the transaction, a conveyancing lawyer can act immediately without referring you elsewhere. Professional Edge Lawyers provides full conveyancing services for property purchases, sales, and transfers across Frankston, Melbourne, and the Mornington Peninsula.
The timeframe for conveyancing in Victoria depends on the settlement period agreed in the contract of sale, which is typically 30 to 90 days from the date of exchange. During that period your conveyancing lawyer conducts searches, liaises with the other party’s legal representative, arranges finance authority confirmation, and prepares for settlement. Electronic settlement through PEXA has significantly streamlined the settlement process compared to paper settlements. We recommend engaging your conveyancing lawyer as early as possible, ideally before signing the contract of sale.