Buyer Beware

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.

The Vendor Statement will not disclose the following:

  • Whether the property is subject to any structural defects or problems such as leaky roof, termites, broken appliances such as heating, alarm,dishwashers, air conditioners 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.
  • Any Illegal Works

THE VENDOR’S OBLIGATION IS TO PROVIDE YOU WITH “GOOD TITLE” , Good Title does not mean a house and/or land in good condition, settlement is usually not able to be delayed if the property is not in the condition that you believe it should be in at settlement so if you have been promised something during the negotiation process you must make it a specific term of the Contract of Sale.

If in any doubts, you should ask the agent to make the Contract of Sale subject to special conditions specific to your requirements.

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 and the Title showing the location and dimensions 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 as the Contract of Sale will have conditions which state that you as a purchaser are satisfied with the measurements.

Covenants/Caveats and Easements

The Vendors Statement should also include any Covenants, Caveats or Registered Easements effecting the property

Final Inspection:

You have the right to inspect the property purchased within seven days prior to the date of settlement, contact should be made with the selling agent to arrange a time suitable to both yourself and the Vendor for your final inspection. The purpose of this inspection is to confirm the property is in the same condition (fair wear and tear excepted) as at the time you signed the Contract of Sale.

Contact Premier Conveyancing should the results of the final inspection not be to your satisfaction, however Please remember that settlement is usually not able to be delayed , but at least we, as your conveyancer, will have time to put the vendors agent/representative on notice that claims against their client may be made after settlement.

If you do not complete your final inspection prior to settlement and upon taking possession of the property find chattels missing or the like, it may be difficult for any claim to be made against the vendor.

Email Premier Conveyancing by clicking here should you wish us to view the Contract of Sale and Vendors Statement before you sign.

Buy a property

Buy a property

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.

Sell a property

Sell a property

Any Vendor wanting to accept a written offer for the sale of a property is required to produce a Vendors Statement to the proposed Purchaser. We have very carefully prepared a Vendor Instruction Sheet which is a document we provide...

 
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