Your Guide to Section 32 and Property Contracts: What Every Buyer and Seller Should Know

You’ve finally found the perfect home, or you’re ready to sell and move on to your next dream property.

However, before the sale or signing of the contract, there is an essential thing that can make or break the deal: Section 32 and property contracts. 

These documents might seem like “just paperwork,” but they’re actually the foundation of every official property transaction in Victoria. One small mistake or missing detail could lead to costly delays or even the loss of a sale. That’s why having an experienced conveyancer by your side isn’t just helpful; it’s essential.

In this guide, we’ll break down what Section 32 really means, how property contracts work, and how professional conveyancing services protect both buyers and sellers from unwanted surprises.

What Is a Section 32 Statement?

A Section 32 statement, sometimes called a Vendor’s Statement, is an official record that you must give to possible buyers in Victoria before they sign the Contract of Sale. 

Named after Section 32 of the Sale of Land Act 1962 (VIC), this document provides key information about your property, ensuring the buyer has full transparency before committing. As a result, every deal is guaranteed to be fair, honest, and trustworthy. 

What Information Does Section 32 Include?

A well-written Section 32 statement should have all the important information about a place, like:

• Title details: Who owns the property and whether there are any encumbrances or easements.
• Planning information: Zoning, overlays, and restrictions that determine how the land can be used.
• Outgoings: Council rates, land tax, and other costs associated with ownership.
• Building permits: Details of any renovations or works that have been accepted. 
• Services connected: Information on water, electricity, gas, and sewer connections.
• Notices and orders: Anything from the government that could change the property’s value or use. 

A buyer can back out of the deal even after signing Section 32 if any of the information there is missing or wrong. That’s why hiring a skilled property conveyancer is crucial to ensure everything is done correctly.

Why Buyers Should Carefully Review Section 32

For buyers, Section 32 is a chance to see what you’re really buying.

The land’s plans can be altered by factors such as unrecorded easements, upcoming council notices, or undisclosed costs.  

A skilled conveyancer will review the Section 32 and identify red flags such as:

• There may be land limits or easements that make renovations harder. 
• Planning zones that limit property use.
• Outstanding rates or taxes that might become your responsibility.

Having a professional review ensures you know exactly what you’re getting into before signing on the dotted line.

Understanding the Property Contract

Once Section 32 is approved, the next major step is the execution of the Contract of Sale.

This document sets out every term of the transaction, including:

• Sale price and deposit amount
• Settlement date
• Conditions (such as finance approval or pest inspection)
• Inclusions like fixtures, fittings, or appliances

Once signed by both parties, the contract becomes binding. The company handling your conveyancing will ensure that every rule is fair, permitted, and in your best interest.

The Role of a Conveyancer in Property Contracts

Conveyancers are the behind-the-scenes heroes of every property transaction. Their knowledge ensures that all papers, from the Section 32 to the Contract of Sale, are accurate, comply with the rules, and don’t contain any errors that could result in significant financial losses.

Here’s how a conveyancer helps:

• For sellers: They prepare the Section 32 and ensure all disclosures are officially sound.
• For buyers: Before you commit to the contract, they review it and provide expert advice.
• During settlement: Ensure that real estate agents, banks, and conveyancers are consulted.

If you prefer transparency, consider choosing fixed price conveyancing, where you know exactly what you’ll pay upfront.

What Happens During the Property Transfer Process

After the contract is signed, the Property Transfer Conveyancing process begins. Here’s what to expect:

• Contract exchange: Both parties exchange signed copies of the contract.

• Cooling-off period: In Victoria, buyers have a three-business-day window to withdraw (except in auctions).

• Finance approval and inspections: Buyers finalise their mortgage and carry out necessary inspections.
• Settlement day: The buyer’s conveyancer coordinates with the seller’s to transfer funds and complete title transfer services, officially making the buyer the new owner.

A professional Melbourne conveyancer ensures that all steps proceed smoothly and on time, which keeps the entire process running smoothly.

Why Choose Professional Conveyancing Services

Whether buying or selling, professional conveyancing services give you confidence that everything is handled correctly.

Here’s why it matters:

• Protection against contract loopholes
• Faster, smoother settlements
• Clear communication between all parties
• Transparent fixed price conveyancing with no hidden costs

In short, your conveyancer serves as your safeguard against stress and uncertainty during one of life’s most significant transactions.

Common Mistakes to Avoid

Even a small oversight can cause big headaches. Both buyers and sellers should avoid the following common mistakes:

• Putting your signature on a contract before a conveyancer looks it over
• Giving too little information in the Section 32 statement
• Not keeping important dates for settlement or loan approval
• Not paying attention to easements, agreements, or zoning rules

Avoiding these errors saves time, money, and trouble in the long run.

If you are buying or selling a property, don’t let complexities slow you down. Reliance Conveyancing handles everything, from Section 32 preparation to settlement and title transfer services.

Let us make your next property conveyancing experience smooth, transparent, and stress-free.

Contact us today to get started with our reliable and professional conveyancing services in Melbourne.

Final Thoughts

Ultimately, understanding Section 32 and property contracts is crucial for a smooth and successful property deal. A qualified conveyancer protects your interests at every step, whether you’re the buyer or the seller. They make sure that every clause, disclosure, and document is handled properly. 

With expert property conveyancing services, you can confidently move through the sale process knowing you’re protected and fully informed from start to finish.

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