What is the purpose of the Section 32 Vendor Statement? What details must be included?November 29th, 2019 Uncategorized
A Section 32 Vendor Statement should contain information relating to:
- A description of any easements, covenants and other similar restrictions affecting the land
- The name of the planning scheme, the authority which administers it and the zoning of the property
- The amount of any rates, taxes or charges affecting the land
- Details of any notices or proposals affecting the land
- A statement regarding the services connected to the land together with the authorities supplying such services
Details of any building approvals granted within the last seven years. Owner-builders must also provide a guarantee and warranty insurance details for the work undertaken.
When looking at a Vendors Statement it is important to ensure the following information has been provided;
CERTIFICATES: Copies of your Title and any secondary Titles for carparks and subdivision plans if applicable. Council rates notices, water rates instalments should always be provided in addition to Land Tax certificates if applicable.
Easements: An easement is any area on your property, which is available for access by the water authority, or any other authority.
BUILDING PERMITS: If there is any type of dwelling or building construction under seven years of age on the land being sold, or structural modifications or additions to those buildings, you will need to provide a Building Permit, a Final Inspection Certificate and Home Owners Insurance documentation.
For an owner-builder, you will also need to provide a copy of an Owner Builder’s Defect Report and Owner Builder Warranty Insurance documentation. You must also disclose any illegal building works that have been completed (without a building permit).
OWNERS CORPORATION: If you are selling a flat, townhouse or estate where an Owners Corporation (formerly known as a Body Corporate) is applicable, you will need to provide details regarding the Owners Corporation Manager, a recent invoice, and minutes from the most recent Owners Corporation AGM.
NOTICES: If you have received any notification from any authority, person or the like about anything that could affect a person’s decision to buy your property, you will need to disclose this information.
ZONING AND OVERLAYS: Please advise whether your property has been zoned i.e., as a residential, mixed or commercial zone.
TENANTS: If the property has been tenanted or leased in any form or fashion you will need to advise us.
SERVICES: You will need to inform us regarding the presence and availability of various services to the land being sold (e.g. electricity, gas, telephone, water and sewage)
Any additional chattels: Always advise the team at Conveyancer.com.au if you are including any items with the property for sale (e.g. a garden shed, dishwashers, electric light fittings, etc.), it is also important to provide a comprehensive list to your agent of what is excluded from the sale.