From October 2014, the Sale of Land Amendment Act 2014 has bought into effect changes to the Section 32 Vendor Statement. The changes mean that only one Section 32 Vendor Statement is needed, instead of two as previously required and vendors can now sign the statement electronically.
Before you buy a home – or any property for that matter – you should be aware of any issues that may affect the property which may impose restirctions or obligations on you if you purchase it.
Consumer Affairs Victoria (CAV) has developed a Checklist to help you identify whether any of these issues will affect you. The Checklist sets out basic information to help buyers indentify issues they should be aware of in relation to their potential house, apartment or land purchase. The questions are a starting point only and you may need to seek professional advice to answer some of them.
You can find links to organisations and web pages that can help you learn more by downloading a copy of the Due Diligence Checklist at http://www.consumer.vic.gov.au/duediligencechecklist