Frequently Asked Questions

Selling Your Home

What is a section 32 Statement?

Under the Sale of Land Act 1962, a disclosure document known as a “vendor’s statement” or “section 32 statement” must be given to a purchaser before a contract is signed.

The statement must contain certain information about the property being sold. For example, information regarding the location of easements particulars of building approvals given in the last seven years, and details of rates and charges that affect the property are just a few of the things that must be disclosed in a section 32 statement.

Contact us now to make arrangements for your section 32 statement to be prepared.

Why do we have to do a title search?

When you are selling a property, we need to check that you are properly registered as the proprietor to ensure that you will be able to complete the sale. It is also a requirement of Section 32. A copy of a Title does not satisfy the provisions of Section 32.

A title search will also provide other information, such as the existence and particulars of any covenant, registered easements, and other registered encumbrances.

Can I get the deposit before settlement?

The deposit is released to the seller at settlement. It is sometimes possible to obtain a release of the deposit prior to settlement provided certain requirements are met.

When your property has sold, you need to tell Civic Conveyancing if you would like the deposit to be released. We will then send you the appropriate forms (Section 27 Statement and funds authority).

What is Settlement?

Settlement is the process where all the parties to a conveyancing transaction come together to complete the transaction. Funds are exchanged for Title documents.

How do I pay the agent's commission on my sale?

It is usual practice for the selling agent to deduct their commission from the deposit held by the agent once settlement takes place. When the deposit is released (whether at settlement or under Section 27) the agent also becomes entitled to the commission.

When do I need to be out of the property?

If a purchaser is entitled to vacant possession of the property at settlement, the seller will need to be out of the property prior to the appointed time, as the purchaser is entitled to the property as soon as settlement has taken place.

You should let us know of any difficulties that you might experience in complying with the settlement requirements, so that alternative arrangements can be made.

What do I do with the keys?

If you have sold your property through an estate agent, you should provide the keys to the agent on the day of settlement, prior to the appointed settlement time.

If no agent is involved, the parties would normally make arrangement privately between themselves to meet for handover.

What time is settlement?

The time will be dictated by the needs and requirements of all the parties – the purchaser, the seller, the purchaser’s conveyancer, the seller’s conveyancer, the seller’s bank and the purchaser’s bank.

Some banks only settle after 2:00pm.

Civic Conveyancing take care of the scheduling arrangements for you.

If you require settlement to take place at a specific time of day, you should let us know of the time, and we will be happy to try and meet your needs.

Who pays the rates?

The council and water rates and other relevant charges are usually adjusted at settlement to ensure that you are liable for rates only for the appropriate period that you have owned the property during the current rating period.

All council and water rates must be paid in full at settlement as part of the settlement process.

Civic Conveyancing takes care of the calculations for these adjustments.

When do I get my money?

For electronic settlements (almost all settlements), funds are transferred from the settlement workspace directly to your nominated bank account during the settlement process.

The settlement process usually takes 30 minutes. If, for example, your settlement begins at 2:00pm and concludes at 2:30pm, your funds are already transferred by 2:30pm. Any delay in you being able to see the funds in your account will be due to processing time at the receiving bank (your bank). You can usually see the funds in your account within an hour or 2.

Who notifies the electricity and gas service providers of the sale?

We will email a notice to the local council and water authority (and, if applicable, Owners Corporation Manager) notifying them of the change of ownership.

You need to contact the electricity, gas and telecommunications service providers prior to settlement to arrange for these services to be disconnected and final accounts issued.

Silly Questions

There are no silly questions.

Whatever you need to know, ask us!

Buying Your Home

What is Cooling Off?

A purchaser of residential property may be entitled to bring a contract to an end by written notice, without any specific reason being needed.

This is often called “the cooling-off period”. It is available for three clear business days from the date the contract was signed by the purchaser.

There are certain situations where this cannot occur. The purchaser cannot bring a contract to an end if:

  1. The property was purchased at an auction or within three business days before or after the auction date; or
  2. The property is used mainly for industrial or commercial purposes, or
  3. The property is more than 20 hectares in size and is used mainly for farming; or
  4. The purchaser and the vendor previously signed a similar contract for the same property; or
  5. The purchaser is an estate agent or a company.

The seller of a property does not have a right to cool-off after contracts are signed and exchanged.

What is a section 32 Statement?

Under the Sale of Land Act 1962, a disclosure document known as a “vendor’s statement” or “section 32 statement” must be given to a purchaser before a contract is signed.

The statement must contain certain information about the property being sold. For example, information regarding the location of easements particulars of building approvals given in the last seven years, and details of rates and charges that affect the property are just a few of the things that must be disclosed in a section 32 statement.

What is an easement?

Easements are areas of land on a property that are set aside for purposes such as drainage or sewerage pipes. Generally, these cannot be built over without the consent of the appropriate person or authority.

Why do we have to do a title search?

When you are buying a property, we need to ensure that the person with whom you have contracted as the vendor is in fact the registered proprietor of the property, or otherwise ascertain their ability to sell the property. A title search provides the basis for this information.

A title search will also provide other information, such as the existence and particulars of any covenant, registered easements, and other registered encumbrances.

What is Settlement?

Settlement is the process where all the parties to a conveyancing transaction come together to complete the transaction. Funds are exchanged for Title documents.

What is a covenant?

Covenants are often registered on titles and usually require the land to be used in a certain manner. For example, a covenant may require any dwelling to be built in brick or with brick veneer walls or might prohibit more than one single dwelling on the property.

Who pays the rates?

The council and water rates and other relevant charges are usually adjusted at settlement to ensure that you are liable for rates only for the appropriate period that you have owned the property during the current rating period.

All council and water rates must be paid in full at settlement as part of the settlement process.

Civic Conveyancing takes care of the calculations for these adjustments.

How do I pay the stamp duty?

Stamp duty is paid at settlement via the electronic settlement platform. We make the stamp duty arrangements.

Am I entitled to a stamp duty exemption or concession?

There are a number of exemptions and concessions available from time to time.

Contact Civic Conveyancing to check if you are entitled to a concession or exemption of duty.

You can also find information on the State Revenue Office website at https://www.sro.vic.gov.au/

How much is the stamp duty I will pay?

Call Civic Conveyancing or use the State Revenue Office Calculator below

State Revenue Office Stamp Duty Calculator

What are the certificates we order used for?

When you purchase a property, certificates are obtained from various statutory authorities, such as the local council, water authority, State Revenue Office, Vic Roads and Planning Authority. When you are selling a property, these certificates may need to be obtained for use and display at an auction.

The certificates serve several purposes. For example, a certificate from the water authority may reveal the location of a sewer main if it transverses the property. Sometimes a sewer main is not laid within a registered easement, so this information is vital to a purchaser, especially when the purchaser proposes to carry out work such as a building or extension on the property.

Other certificates are used to ascertain the rates and charges on the property, to ensure that they are properly adjusted at settlement, and any arrears are dealt with to ensure that a purchaser does not become liable for the seller’s debts on the property.

Why do I have to insure the buildings before settlement?

When you sign a contract for the purchase of a property, you have what is known as an “insurable interest” in the property. Naturally, you will want to protect this interest.

While the seller of a property usually has certain obligations to provide the property to you as inspected (fair wear and tear excepted), there may be situations where you could be forced to accept a property that has been damaged where that damage may be able to be the subject of a claim under an insurance policy.

(For example, in some cases damage might occur that does not render a dwelling uninhabitable, and you may be forced to settle.)

You will not know whether the vendor keeps their policy current, or if the property has been insured at all, and some vendors might even cancel a policy when the property sells. The property might not be adequately insured by the Vendor.

A lender often requires the borrower to arrange insurance cover, noting the lenders full name as “an interested party” or “as mortgagee”. Failure to provide a certificate from the insurer with the lender noted as an interested party can lead to a delay in settlement.

It is for these and other reasons that Civic Conveyancing recommend that you arrange building insurance as soon as a binding contract is signed.

What do I do if the finance for my purchase has not been approved?

Call us immediately!

It is the purchaser’s responsibility to advise if finance has not been approved by the approval date or has been declined. Therefore it is essential that you contact Civic Conveyancing by the approval date specified in your contract regardless of whether your finance has been approved.

When do I need to have my funds ready for settlement?

Unless all funds are being supplied at settlement via your bank, you need to be in a position to transfer your funds to the electronic settlement workspace 3 business days before settlement.

When can I move into the property?

A purchaser can usually move into the property as soon as the settlement has taken place.

We will call you as soon as settlement has taken place. The purchaser can then collect the keys from the selling agent.

What time is settlement?

The time will be dictated by the needs and requirements of all the parties – the purchaser, the seller, the purchaser’s conveyancer, the seller’s conveyancer, the seller’s bank and the purchaser’s bank.

Some banks only settle after 2:00pm.

Civic Conveyancing take care of the scheduling arrangements for you.

If you require settlement to take place at a specific time of day, you should let us know of the time, and we will be happy to try and meet your needs.

When should I do a final inspection?

The contract usually allows you to carry out a final inspection of the property within seven days prior to the settlement date.

A purchaser will normally contact the selling agent to arrange a final inspection of the property. If there is no agent, the purchaser will normally contact the seller directly to arrange access for the final inspection.

What happens if the Vendor has not moved out of the house by settlement time?

If a purchaser is entitled to vacant possession of the property at settlement, the seller will need to be out of the property prior to the appointed time, as the purchaser is entitled to the property as soon as settlement has taken place.

Who notifies the electricity and gas service providers of the sale?

We will email a notice to the local council and water authority (and, if applicable, Owners Corporation Manager) notifying them of the change of ownership.

You need to contact the electricity, gas and telecommunications service providers prior to settlement to arrange service connection.

Silly Questions

There are no silly questions.

Whatever you need to know, ask us!

Scroll to Top