Vendor Property Sale Checklist

Vendor Property Sale Checklist

It is important that you answer these questions carefully and accurately as we will rely on the answers and information you provide to prepare documents and to act on your behalf in this transaction. If any of your answers are incorrect, the contract may not be enforceable, and you may be exposed to a claim for damages or other legal proceedings. If you are unsure about an answer, you should contact us to discuss.
Vendors Statement

Under section 32 of the Sale of Land Act 1962 (Vic) (SLA), a vendor of land must give to the purchaser before the contract is signed a statement signed by the vendor that includes certain prescribed information about the land sold. This is known as a “Vendor’s Statement” or a “Section 32” Statement. Where a vendor supplies false or incorrect information to the purchaser in the Section 32 Statement, fails to provide all the information required to be supplied or fails to provide the Section 32 Statement to the purchaser prior to the contract being signed, the purchaser may seek to terminate the contract at any time before settlement. A purchaser may also have remedies against the vendor under the Australian Consumer Law. There may be an exception for an honest and reasonable mistake, but this may involve delay and costs associated with legal proceedings. The Section 32 Statement is required to comply with section 32 of the SLA at the time the contract is entered into, not just at the time it is prepared. It is therefore important that you review the Section 32 Statement just prior to the signing of a contract by a purchaser to ensure it is current and accurate at that time. If it is not, or if you are unsure, you should advise us in writing and/or instruct us in writing to update it prior to signing. The Section 32 Statement we prepare on your behalf for the sale of your property will be based on the information you provide, which we will assume are correct. If any of your answers are incorrect, the purchaser may seek to terminate the contract at any time before settlement.
Material fact disclosure

Section 12 of the Sale of Land Act prohibits a vendor makinga false statement to induce a purchaser to buy the property and section 12(d) requiresthe vendors of real estate to advise prospective purchasers of any materialfact that may influence a purchaser’s decision to buy the property. Guidelinesabout what is a material fact are published by Consumer Affairs and you shouldread them at Preparing to sell your property - Consumer AffairsVictoriaA failure to disclose a material factcan result in prosecution and penalties.
Name of registered proprietor 1 (owner of property to be sold)

PrefixFirst NameMiddle NameLast Name
Name of registered proprietor 2 (if more than one person owns the property)

PrefixFirst NameMiddle NameLast Name
If the registered proprietor is a Company specify the name of the company below

Name of companyACN/ABN
Names of directors of Company

Name of directorName of director
Mobile number registered proprietor 1/director 1
Format: 0000 000 000.
Mobile number registered proprietor 2/director 2
Please enter a valid phone number.Format: 0000 000 000.
Email registered proprietor 1/director 1
Email registered proprietor 2/director 2
Date of birth for registed proprietor 1/director 1

DayMonthYear
2 digit day, 2 digit month, 4 digit year
Date of birth for registed proprietor 2/director 2

DayMonthYear
2 digit day, 2 digit month, 4 digit year
Address of property to be sold

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Your address for after settlement (If known)

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Volume and folio details
volume/folio
Location of original title (eg. With bank, stored at home, electronic title held by conveyancer/solicitor)
Provide a copy of your title if you hold this.

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Name of mortgagee and loan account number

Name of lenderLoan account number
Does the registered proprietor hold the property on trust (ie. does a trust own the property)?
If the answer to the above question was yes please provide us with a copy of the trust deed together with any deeds of amendment.

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What is the current use of the property to be sold
Is the land currently tenanted?
Are you selling with vacant possession?
If the land is sold subject to a lease we will require a copy of the lease

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Are any car spaces or storage lots included in the sale?
Are any car spaces subject to a congestion levy?
Are you aware of any failure to comply with restrictions (easement, covenant)? For example a garage that is built over a sewer pipe.
Is there a caveat registed on the title?
Have you received any notice from a public authority affecting the land? For example, an order from VCAT, a street construction charge, re zoningproposal, a contamination / clean up notice or a notice about works and/orsubdivision by an adjoining owner.
Are you aware of any contamination that could pose a risk to human health and/or the environment?
Are you aware of any fencing disputes on any of the land boundaries?
Are you aware of any encroachments that affect the land? For example, a neighbour’s shed and/or retaining wall is partly built on your land?
Have you received notice of any actual or proposed compulsory acquisition of any part of the land (such as an acquisition for road widening?)
Are you aware of any easements not shown on the title or title plan? (such as a regularly used walkway across your land)
Are you aware of any failure to comply with restrictions (easement, covenant)?
Have you received any notice from a public authority affecting the land?
Have planning or building permits been issued or refused?
Is the property sold with plans and permits?
Upload copy of plans and permits

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Are you aware of any works that have been undertaken that would otherwise require a building or planning permit (where a permit has not been obtained)?
Have you done any owner-builder works in the past 7 years or propose to do any owner builder works prior to the sale of the property? Owner builder works are works not done by a registered builder and can include renovations to a kitchen or bathroom, partition walls, painting , flooring etc. Note-A building and defects inspection report is required for all such works (s137B Report). Please provide this once available.
For further information click this link -

Consumer Affairs Victoria

VBA
Did you obtain a certificate of consent from the building commission to do the works as an owner builder? Did the works cost more than $30,000? If yes, you will need to take out owner builder insurance. Please provide us with a copy once available.
Owner builder insurance
This space is to provide details to any of the 'Yes' answers above
owner builder works details
Is there public road access to the property?
Is the land and buildings insured? Note, generally the property will remain at your risk until settlement.
Is there any proposal to re zone the land and have you considered any issues in relation to the windfall gains tax (WGT)? For example, could the land be rezoned and become subject to the WGT.
Is the land in a bushfire prone area?
Is the property over 0.41ha in a Growth Areas Council (Cardinia, Casey, Hume, Melton, Mitchell, Whittlesea, Wyndham) and will this sale of the land trigger payment of the Growth Areas Infrastructure Contribution?
What is the age of the building on the land (in years)?
Have safety switches and smoke alarms been installed?
Is there a swimming pool or spa on the land?
If yes, tick all applicable options
For further information click this link VBA
Upload certificate of barrier compliance/council registration

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Does any building contain flammable cladding?
Have you entered into an agreement to fund flammable cladding rectification?
Is the land affected by planning overlays (eg. heritage, public acquisition, etc.)?
Have you considered the Capital Gains Tax (CGT) consequences and GST treatment of this sale? Note- it is very important that you seek external tax / accounting advice about CGT and potential CGT, and other tax matters (as our retainer does not extend to providing tax advice).
Is the sale a taxable supply? (eg. if you are vacant land, selling brand new property or commercial property GST would usually apply however it is veryimportant that you seek external tax / accounting advice about GST implications(as our retainer does not extend to providing tax advice).
Is the land zoned for commercial or industrial use (to identify commercial and industrial property tax (CPIT)?
Refer to following link for further information about CPIT

SRO - CPIT
Is there a proposal to rezone the land?
Have solar panels been installed?
Which services are connected to the land? (Select all that apply) Note- A service is connected where at thedate the purchaser signs the contract of sale the service can be used.

Other
Is the land part of an owners corporation?
Does the owners corporation have current insurance?
If there is an owners corporation, provide details of owners corporation manager and if there is no manager please insert name of lot owner who looks after self managed owners corporation.
Has the owners corporation held a meeting in the past 15 months?
Do you lease or licence any common property, or are you aware of any other party doing so?
What goods and chattels are included in the sale?
What goods and chattels that are included/excluded
List all included and excluded goods and chattels
Are the goods affected by a security interest on the Personal Property Securities Register?
Do you have an Australian Business Number (ABN)?
If yes to previous, what is your ABN?
Are you selling this property as part of your business?
Are you acting as an attorney, executor, or administrator?
If yes to previous question upload a copy of the grant of probate, letters of administration or power of attorney.

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Are you a foreign resident for tax purposes?
Have you appointed a selling agent?
Agent name:
Agent phone:
Please enter a valid phone number.Format: (000) 000-0000.
Agent email:
example@example.com
Auction date (if applicable)

MonthDayYear
2 digit month, 2 digit day, 4 digit yearDate
Is the purchaser a relative of the vendor or associated with the vendor?
Is the purchaser a subsidiary/holding company of the vendor?
Details of purchaser
Name, contact details, relation to you (if applicable), details of conveyancer or lawyer
Other details for contract (if known) eg. price, settlement date
Will the purchaser be given occupation before settlement?
Will there be multiple instalment payments of the price or vendor finance (terms contract)?
Details of terms contract
Does any tenant or other person have a right of first refusal to buy the land or is consent from a third party required to sell the land?
Is there anything else about the land that may affect the sale
Insert any questions or other information including material facts below.
Your Full Name
Authority to Sign (if not the registered owner)
Signature
Date Signed

DayMonthYear
2 digit day, 2 digit month, 4 digit yearDate
Should be Empty:

Vendor Property Sale Checklist

Vendors Statement

Material fact disclosure