Contract of Sale & Section 32 Review Melbourne

Know exactly what you are agreeing to, before you sign.

Once you sign a contract of sale in Victoria, your options narrow very quickly. At auction they close immediately, because there is no cooling off. Even in a private sale, the cooling-off period is short and comes with a penalty. The most useful thing a buyer can do is have the contract and the Section 32 read properly while there is still time to ask for a change.

That is what this service is. You send us the contract of sale and the vendor’s Section 32 statement. We read both, and we come back to you with a plain written summary of what you are buying, what is unusual about it, and anything we would want changed before you sign. It is a fixed fee, agreed before we start, and we turn it around within three business days.

We have been reviewing Victorian contracts since 2001, on everything from first homes in the outer suburbs to commercial premises and rural blocks.

What the Review Covers

We read the contract and the Section 32 together, because problems often show up in the gap between them. The review looks at:

• The title itself, including easements, covenants, restrictions and any caveat or other registered interest
• Whether anything on the title limits what you can build or where you can build it
• Planning and zoning controls, overlays and any heritage restriction
• Notices from council, the water authority or another agency, including anything about a proposed acquisition or road widening
• Rates, land tax, owners corporation fees and other outgoings you will be adjusted for at settlement
• Owners corporation records where the property is in a strata scheme, including the balance of the fund and any special levy
• Whether the property is in a growth area subject to the growth areas infrastructure contribution
• The special conditions, which is where vendors most often shift risk onto the buyer
• The settlement date, the deposit terms and the default interest rate
• Whether any building work has been done and whether the required permits and insurance exist
• Whether the vendor’s disclosure is complete, and what your position is if it is not

You get a written summary in plain English, and a phone call to talk it through if you want one.

What a Section 32 Has to Tell You

The Section 32 statement, properly called the vendor’s statement, is required by section 32 of the Sale of Land Act 1962. The vendor has to sign it and give it to you before you sign the contract. It is the vendor’s disclosure of the things about the property that a buyer would want to know: title particulars and encumbrances, planning information, rates and outgoings, services connected to the land, building permits issued in the last seven years, notices and orders affecting the property, and owners corporation information where relevant.

The statement matters for two reasons. First, it is where most of the surprises live. Second, if a vendor fails to give you a statement, or gives you one that is incomplete or incorrect, that can give you a right to end the contract in some circumstances. Whether it does depends on what was left out and when you find out, which is a legal question rather than a form-filling one.

A Section 32 being present is not the same as a Section 32 being adequate. We see statements every month that are missing a permit, understate the owners corporation position, or attach a title search that is months out of date.

What We Actually Find

Most reviews turn up something. Usually it is minor and easily dealt with. Occasionally it is the reason a client walks away.

Common examples include a sewer or drainage easement running under the part of the block where the buyer intended to build; a covenant limiting the property to a single dwelling when the buyer planned to develop; an owners corporation with a special levy already resolved but not yet struck; a settlement period that does not line up with the buyer’s finance approval; extensions built without a permit, which becomes the new owner’s problem; and special conditions that remove the buyer’s usual rights if settlement is delayed.

None of these are exotic. They are simply the sort of thing that is obvious to someone who reads contracts for a living and invisible to someone reading their first one.

Buying at Auction

If you are bidding at auction, get the review done beforehand. There is no cooling-off period on an auction purchase, and none on a sale made within three clear business days before or after a publicly advertised auction. You sign on the day and you are bound by it.

We are used to short timeframes in auction season and will tell you honestly whether we can turn your contract around before the day.

Cooling Off in a Private Sale

For most residential private sales in Victoria, a buyer has a cooling-off period of three clear business days after signing. If you use it, you forfeit the greater of $100 or 0.2% of the purchase price.

Cooling off does not apply to auction purchases, to sales made within three clear business days either side of a publicly advertised auction, to most commercial and industrial property, or to farm land over 20 hectares. It is a safety net with holes in it, and it is not a substitute for having the contract read.

Changes Coming for Vendors and Buyers

The Consumer Legislation Amendment Bill 2026 passed both Houses of the Victorian Parliament in August 2026. It changes how vendor statements are provided and how deposits are handled.

Under the changes, a vendor will have to make the Section 32 available to prospective buyers on request at least 14 days before an advertised auction or fixed-date sale, and 14 days before a contract is entered into in other cases. The existing section 27 early deposit release mechanism is replaced, so a deposit will not be released to a vendor before settlement unless the contract expressly allows it, and agents will not be able to take commission out of the deposit before settlement.

For buyers, the 14-day rule is a real improvement, because it means more time to have the statement reviewed. For vendors, it means the Section 32 has to be finished and correct earlier in the campaign than most are used to.

We are advising clients on both sides of these changes now. If you are preparing to sell, talk to us early.

Turnaround and Fees

We quote a fixed fee for the review before we start, so you know the cost up front and there is nothing to reconcile afterwards. We will get a complete review to you within three business days from when we receive both documents. If you are bidding at auction on the weekend and it is already Thursday, call us and we will tell you whether we can make it.

If you go on to buy the property, we can act on the purchase through to settlement, and we will tell you what that costs at the same time.

Selling? We Prepare Section 32 Statements Too

We also prepare vendor statements and contracts of sale for sellers. Getting the statement right at the start is what prevents a buyer from having a reason to walk away later, and under the new 14-day rule it needs to be ready earlier in the campaign than it used to be. See our page on selling a property.

Frequently Asked Questions

How It Works

Contact us through our online enquiry form or call us on 03 9629 2211. We will ask you to send the PDF contract of sale and the Section 32 by email. We will confirm the fixed fee, review both documents, and come back to you within three business days with a written summary and a call if you want one. If you decide to proceed, we can act on the purchase through to settlement.