Buyer Beware

Unfortunately, the principle of “Buyer Beware” applies to all Contracts signed by a purchaser and by signing the Contract the Purchaser is deemed to have fully read and understood the Contract together with making all necessary and complete enquiries to the relevant authorities prior to signing. It is not mandatory for a Vendor to provide all certificates relevant to a purchaser. Sometimes the Purchaser must rely on information contained within the Section 32 Vendors Statement.

Right Choice Conveyancing will make application for the following certificates as part of the Conveyancing procedure:

  • Land Information Certificate provided by the appropriate municipal authority.
    Form 10 Building Certificate (only if the property includes a residence)
    Water Rate Certificate
    Water Encumbrance Certificate
    Land Tax Certificate
    Department of Planning Certificate
    Vic Roads Certificate

Many of our clients now elect to obtain Title Insurance through Stewart Title. These policies compliment, rather than replace, the searches and checks that we perform on your behalf, and with many additional benefits.

 

The Vendor Statement will not disclose the following:

Whether the property is subject to any structural defects or problems such as leaky roof, termites, bushfire prone, broken appliances such as heating, alarm etc.
Any development proposals for the surrounding area.
Whether or not the land is subject to any contamination or pollutants.
Details of any final inspections or permits which have NOT been obtained.

If in doubt, the purchaser should ask the agent to make the Contract of Sale subject to special conditions.

Building Approval Certificates: As part of the Conveyancing procedure, this office will apply for a Form 10 Building Certificate for the local Council. This Certificate will give details of any building approvals granted and whether final inspections have taken place. However the Purchaser must be aware that even if the certificate shows that the vendor has not had final inspections on any structure on the land, the vendor is under no obligation to arrange for a final inspection or meet any requirements imposed by the Council. Any notice issued by the Council after the Contract date in regards to outstanding final inspections is the responsibility of the Purchaser. If in doubt, the purchaser should ask the agent to make the Contract of Sale subject to special conditions.

Swimming Pool/Spa Fences: If the Property being purchased has a swimming pool or outside spa which is not fenced, the obligation to fence the pool or spa in accordance with Council regulations will inevitably fall on the Purchaser after settlement. We suggest you talk to the local Council about fencing requirements prior to signing the Contract of Sale.

Property Location: Attached to the Section 32 Vendors Statement should be a copy of the Plan of Subdivision of the property. Prior to signing any Contract of Sale, the purchaser should attend the property for the purposes of measuring the boundaries of the land, and ensuring the location of the land coincides with what is shown on the Plan.

If the Purchaser has any doubts, they should engage the services of a licensed surveyor who will be able to check such matters properly, and thoroughly.

Disclaimer: The information provided on the Right Choice Conveyancing web site is not intended to be legal advice. Many factors unknown to us may affect the applicability of any statement or comment that we make on the Right Choice Conveyancing web site to your particular circumstances.