SAME DAY CONTRACT & SECTION 32 REVIEW $199
Purchasing property is a major financial decision and it is important to protect your interests by engaging a professional to review the Contract AND Section 32 before signing on the dotted line. Unfortunately, many people make the mistake of skipping this step in the excitement of finding their dream home. This can be costly, as several pitfalls can arise from buying property without a proper contract review.
- Potential for hidden clauses or terms that may not be in your favour. A professional contract review can identify any such clauses and give you the opportunity to negotiate and ensure that your interests are protected. Without this, you may end up agreeing to terms that you later regret, such as a higher purchase price or unfavourable financing terms.
- Risk of not fully understanding the terms and conditions of the contract. It is important to understand what you are agreeing to, and a contract review can help clarify any confusing language or terms. You may miss important details or misunderstand the terms of the contract, leading to disputes or legal issues down the line.
- Unexpected expenses. We can help identify any potential hidden costs or maintenance fees that may not have been disclosed upfront. You may be caught off guard by these unexpected expenses, which can significantly impact your budget and financial planning.
It is vital to protect your interests when purchasing property by having a proper contract review. Skipping this step can lead to hidden clauses, misunderstandings, and unexpected expenses that can have serious consequences. Don't take the risk – make sure to have your contract reviewed by R.E.T Conveyancing before making such a significant financial decision.
What is a Section 32?
A Section 32 Statement, also known as a Vendor's Statement or a Disclosure Statement, is a document that is provided by the seller of a property to the buyer as required by the Sale of Land Act 1962 in Victoria, Australia. The Section 32 Statement provides information about the property, including any encumbrances or legal issues that may affect the title to the property. It is the seller's responsibility to provide a Section 32 Statement to the buyer prior to the sale, and the buyer is required to review the document carefully before signing the contract.
The Section 32 Statement includes a range of information, including:
The Section 32 Statement includes a range of information, including:
- The legal description of the property
- Details of any mortgages or other encumbrances on the property
- Any planning or zoning restrictions affecting the property
- Any notices or orders that have been issued in relation to the property
- Any covenants, easements, or rights of way affecting the property
- Any structural or building defects that are known to the seller
What is a Contract?
A Contract of Sale for a property transaction is a legally binding document that outlines the terms and conditions of the sale of real estate.
It typically includes the purchase price, settlement date, and any contingencies or provisions that must be met before the sale can be completed.
The Contract of Sale also outlines the rights and responsibilities of both the buyer and the seller, and serves as the basis for the transfer of ownership from the seller to the buyer. It is important to carefully review the Contract of Sale before signing, as it can have significant financial and legal implications for both parties.