When it comes to selling a property, Victorian Statewide Conveyancing is here to seamlessly guide you through the process. Our experienced team will assist you at every stage, from preparing accurate contracts and section 32 statements to ensuring a timely settlement. Need conveyancing for selling a house? Talk to us today to get started.
We offer a flat fee conveyancing service, meaning you’ll know the exact costs involved at settlement when you engage our services. With no upfront fees for contract and section 32 preparation, you can confidently proceed with your sale, knowing you’re in expert hands.
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When selling a property, it is advisable to have your Section 32/Vendor Statement and, in some cases, a Contract of Sale prepared before starting the marketing campaign. The contract outlines the legal terms, specifies included or excluded items, and addresses any special requirements such as settlement duration.
To ensure a smooth process, discuss your situation in detail with us before listing your property.
Additionally, understanding your disclosure responsibilities is crucial to avoid potential issues leading to a sale falling through prior to settlement.
Ask us for conveyancing advice in selling a property today. We can also assist you in buying a property.
After a purchaser is found and the contract becomes legally binding, the purchaser typically pays a deposit. This deposit is usually held in either the trust account of the selling agent or your legal representative.
In Victoria, if you wish to access the deposit paid on your property for another purchase or investment before settlement, it can be arranged through us and we do not charge any fees to arrange this .
This process, which can be initiated before or after the sale, typically takes up to 28 days to execute. Please note that specific timelines and procedures may vary. Find out more about property transfers today.
Settlement, the day when the property’s ownership is transferred and keys are exchanged, is scheduled according to the contract. During this waiting period, we will coordinate with your bank regarding the release of any mortgage on the property. It is important to arrange the disconnection of essential services from your name on the settlement date or the date you vacate the property.
Prior to settlement, the purchase price will be adjusted to account for shared expenses such as council rates, water rates, and strata fees as outlined in the Contract for Sale. Additional adjustments may also apply based on the contractual terms.
We will provide you with a settlement statement prior to the settlement for you to review. Surplus funds will be credited to your nominated bank account via the Pexa electronic platform and in most cases the funds will be in your account within 4 hours. Please note that with some banks and credit unions the surplus funds will be processed overnight.
As we value the security of your funds we will request your details in writing but also via a secured platform (Pexa key). This will ensure that we have the correct account details.
A Section 32 is a legal document, also known as the vendor’s statement. Before a property can be sold in Victoria the buyer must be given a copy of the section 32 statement. The term section 32 is a reference to the Sale of Land Act 1962 (VIC) as this is the section of the act which states a vendor must provide a statement to the purchase
Prepared by a conveyancer or solicitor, the section 32 statement sets out all appropriate information a purchaser needs to know about a property before they make a decision to buy. It includes relevant documentation such as the ownership and title details, along with additional information required under the sale of land Act (Vic).
It allows the purchaser to do their due diligence and make an informed decision before they commit to purchasing the property.
Yes, a conveyancer will prepare the section 32 statement based on the information supplied to us by the vendor, we will ask the vendor numerous questions about the property to ensure the details are correct.
If the vendor does not provide a section 32 then a sale cannot proceed. The section 32 is a document that must be supplied by law, a vendor cannot actually sell their property without one.
In most instances a section 32 statement can be prepared within 24 to 48 hours for private sale matters , if you are auctioning a property or your property is part of a body corporate the section 32 statement will take approximately 2 weeks whilst we wait for all certificates to arrive. As all sales are different we will provide you with a time frame once we run through our questionnaire.
When acting for a vendor it is crucial to ensure that the section 32 statement is correct. It takes a lot of work to get it right. The consequences of getting it wrong can be devastating for a vendor, especially where a purchaser rescinds. Sometimes the purchaser is prepared to settle with a reduced purchase price. It is important for vendors to answer the questions we ask correctly and honestly as an incorrect answer ( eg building works not disclosed) could lead to a purchaser pulling out of a contract.
If you have any questions or enquiries regarding any of our services or if we can help you, please leave an enquiry below.
