Section 32 - What are the main things I should be looking for?

section-32
#1

Hi All,

So usually when looking for property the first thing you will receive is the Section 32 (if you’re from Victoria) or a sales contract outlining various details about the sale.

These are usually full of information so I am wondering if anybody has any ideas on what are the key things I should be looking for in these documents during the research stage of property buying?

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#2

When I am vetting a Section 32 Statement for a client the first thing I look for is whether there have been any breaches of Section 32 of the Sale of Land Act. This is because some breaches will give the purchaser an immediate right to cancel at any time up to the day of settlement, while others will depend on the extent to which the purchaser may have been disadvantaged. A practitioner who fails to notify a purchaser client of a right to cancel could be found negligent if the client later claims that he/she would have cancelled if they had been made aware of this option.
Peter Mericka
Lawyers Conveyancing

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