Considered advice to help you buy with confidence, from contract review through to settlement.
Buying a home or an investment property is an exciting step, and our role is to look after the legal side so you can enjoy it. Hendersons Legal has acted for buyers across Victoria since 2001, from first home buyers to experienced investors and commercial purchasers. We review your contract and Section 32, run the searches, explain your rights in plain language, and manage settlement through to the day you receive the keys.
Once a contract of sale is signed it can be difficult to make changes, so the most useful thing you can do is have a lawyer check the contract and the Section 32 before you sign. A short review at the right time gives you confidence and can prevent an expensive problem later.
How We Help Buyers
We look after every legal aspect of your purchase, including:
- Fixed-price review of the contract of sale and Section 32 Vendor’s Statement before you sign
- Advising on cooling-off rights and special conditions
- Conducting title, planning and property searches
- Calculating your stamp duty and applying any concessions or exemptions
- Advising first home buyers on the First Home Owner Grant and duty savings
- Liaising with your lender and managing electronic settlement through PEXA
- Acting on commercial and off-the-plan purchases
Contract of Sale and Section 32 Review
Our fixed-price Contract of Sale Review goes through the contract and the Section 32 Vendor’s Statement in detail, so you know exactly what you are signing. We look for easements, covenants and restrictions, caveats or other interests on the title, planning and zoning controls, heritage overlays, rates, land tax and owners corporation fees, GAIC and special levies, and whether the settlement period suits your finances. You will come away with a clear understanding of what you are buying.
First Home Buyers
Buying your first home is a milestone, and we are pleased to help first home buyers reach it. We explain each step in plain language, review your contract and Section 32, and make sure you understand your rights and obligations before you sign. We also help you make the most of the incentives available in Victoria, including the stamp duty exemption for homes up to $600,000, the tapered concession between $600,001 and $750,000, and the First Home Owner Grant for an eligible new home. Getting this right at the outset can save you a considerable amount.
Stamp Duty and Concessions
As the buyer, you pay land transfer duty (stamp duty) on your purchase, and several concessions and exemptions may reduce it, including the principal place of residence concession, first home buyer benefits and the off-the-plan concession. If you are a foreign purchaser, additional duty may apply. We calculate your duty, identify any concession you qualify for, and make sure the correct amount is paid at settlement.
Buying Commercial Property
We act for buyers of offices, retail premises, factories, warehouses and development sites. Commercial purchases involve additional due diligence, including GST treatment, whether the sale is a going concern, existing leases and tenancies, and the condition and permitted use of the premises. We work through each of these with you and coordinate with your accountant where tax advice is needed.
Electronic Settlement Through PEXA
We manage your settlement electronically through PEXA, Victoria’s digital settlement platform. We attend to the searches and adjustments, liaise with your lender, prepare and lodge the transfer documents, and settle on the day, keeping you informed throughout so there are no surprises.
Frequently Asked Questions
Should I have the contract reviewed before I sign?
Yes. Reviewing the contract and Section 32 before you sign means you understand exactly what you are agreeing to, and if anything needs adjusting it is far easier to address beforehand. Our fixed-price Contract of Sale Review checks both documents so you can sign with confidence.
How long is the cooling-off period in Victoria?
For a residential property bought by private sale, the cooling-off period is generally three clear business days after you sign. If you withdraw within that time you forfeit the greater of $100 or 0.2% of the purchase price. Cooling-off does not apply to auction purchases or most commercial property, so please check with us before relying on it.
What stamp duty concessions can I receive as a buyer?
Depending on your circumstances you may qualify for the first home buyer exemption on homes up to $600,000, a concession between $600,001 and $750,000, the principal place of residence concession, or the off-the-plan concession. First home buyers may also be eligible for the First Home Owner Grant. We calculate your duty and apply any concession you are entitled to.
What is a Section 32 and why does it matter to me as a buyer?
It is the seller’s disclosure document, and it sets out the important facts about the property, including title, encumbrances, planning, rates and outgoings. We review it closely because it often reveals matters that affect value or what you can do with the property, and because a defective statement can give you the right to end the contract.
Can you help me buy a commercial property?
Yes. We act on commercial and mixed-use purchases as well as residential, including the GST, going-concern, lease and due-diligence considerations involved.
How It Works
Getting started is simple. Contact us by phone or fill out our online enquiry form with a few details about your property matter. We will confirm the scope of the work, provide a clear fee estimate, and get underway, keeping you informed at every stage through to settlement.
Contact Our Conveyancing Lawyers in Melbourne
If you are buying a property in Victoria, send us the contract before you sign or call to talk through your purchase, and we will be glad to help. Call (03) 9629 2211 or complete our online enquiry form today.
