What is a Section 32?

In the context of property transactions, a Section 32, also known as a Vendor's Statement, is a legal document provided by the seller (vendor) to the potential buyer (purchaser) of a property in the state of Victoria, Australia. It is a mandatory document that must be provided to the purchaser before they sign a contract of sale. We can assist you with that process at Synergy.

The Section 32 contains important information about the property, such as (but not limited to):

1. Title details: It provides details about the property's title, including information about any encumbrances, easements, or restrictions that may affect the property.

2. Planning information: The Section 32 includes information about zoning, planning overlays, and any other relevant planning restrictions that may impact the use or development of the property.

3. Notices and orders: It discloses any notices, orders, or legal proceedings affecting the property, such as building notices, planning permits, or notices of acquisition.

4. Services and utilities: The document may include details about the availability of services and utilities to the property, such as water, electricity, gas, and sewerage.

5. Owners corporation information: If the property is part of a strata or owners corporation, the Section 32 will include information about the owners corporation, including any fees, rules, and regulations.

Overall, the Section 32 is a crucial document that provides important information to the purchaser about the property they are considering buying. It helps the purchaser make an informed decision about whether to proceed with the purchase and ensures transparency in the property transaction process. Failure to provide an accurate Section 32 can lead to legal consequences for the seller, so it's essential to ensure that the information provided is accurate and up-to-date.

Do I need a Conveyancer?

In Victoria, Australia, you definitely need a conveyancer when buying or selling property. Here’s why:

Legal Expertise: Property transactions involve complex legal documents and procedures. A conveyancer knows the law and ensures everything is done correctly.

Avoid Mistakes: Missing a detail or making a mistake can lead to big problems, like losing your deposit or facing legal issues. A conveyancer prevents these mistakes.

Property Searches: They conduct important searches to uncover any hidden issues with the property, like unpaid debts or restrictions that could affect you.

Smooth Process: They handle all the paperwork and legal steps, making the process smoother and less stressful for you.

Peace of Mind: Knowing a professional is managing your property transaction gives you peace of mind that everything is being handled properly.

So, having a conveyancer is essential to ensure a safe and smooth property transaction in Victoria. Call Synergy and we’ll help you through the entire process and give you that peace of mind.

What is Conveyancing?

Conveyancing is the legal process of transferring ownership of a property from one person to another. It involves several steps to ensure that the transaction is legally valid and that both the buyer and seller meet all their obligations. Here are the key steps involved in conveyancing which Synergy can take care of for you:

1. Preparation of Documents: Drafting and reviewing the contract of sale and other legal documents.

2. Property Searches and Inquiries: Conducting searches to check for any issues with the property, such as unpaid debts, legal restrictions, or zoning laws.

3. Exchange of Contracts: Once both parties agree to the terms, contracts are signed and exchanged. This step makes the sale legally binding.

4. Settlement: The finalization of the sale, where the buyer pays the purchase price and the seller transfers the property title. The conveyancer ensures all legal documents are in order and facilitates the transfer of funds.

5. Registration: Registering the new ownership with the relevant government authority, making the transfer of ownership official.

Conveyancing ensures that the transfer of property is done legally and smoothly, protecting the rights and interests of both the buyer and the seller.