If you are looking at buying a Melbourne property, you are likely to have heard of a section 32 statement. This is a legal document known by various names, including vendor’s statement. It is compulsory for a property seller to provide the buyer with a section 32 statement, which is usually prepared on their behalf by their conveyancer. The document will outline things that you, as a buyer, need to know before proceeding with the sale. This includes information on how you can use the property, for example, its zoning as decreed by the local council. It will also contain information on rates that the property owner is required to pay. As well as mundane matters such as details of easements on the property, the section 32 will also inform you of any debts held against the property. When you purchase a property, you do not want to unwittingly purchase the previous owner’s debt.
It is a legal requirement for the information contained in the section 32 document to be correct. For example, the owner cannot falsely claim that the property can be used residentially if it is zoned in a commercial area with no exemption. Even so, it is important to have this document checked. It is common for buyers to hire a conveyancer for this very reason. A conveyancer is more than a second pair of eyes; they will know what to look for in the section 32 to check that it is all above board. They will be aware of any recent changes to requirements of the document. A conveyancer can also take charge of other legal aspects of your property purchase, as sorting out the complicated paperwork involved in a purchase or sale is too ambitious for someone without legal training.
You should now understand what a vendor’s statement is, why you need one, and how to go through a Melbourne conveyancer to get one.