Careful, dependable help to get your sale right, from your Section 32 through to settlement.
Selling a property is a significant step, and our role is to make the legal side of it clear and manageable. Hendersons Legal has acted for vendors across Victoria since 2001, preparing the documents and managing the process so you can focus on your next move. Getting your paperwork right from the outset is what keeps a sale on track, and that is where our experience makes the difference.
Our conveyancing lawyers act for vendors on residential and commercial sales alike. We prepare your Section 32 Vendor’s Statement and contract of sale, guide you through offers and settlement, and are ready to step in should any issue arise along the way.
How We Help Vendors
We look after every legal aspect of your sale, including:
- Preparing your Section 32 Vendor’s Statement in full and to the requirements of the Sale of Land Act 1962
- Preparing and settling your contract of sale
- Advising on offers, special conditions and settlement terms
- Preparing and serving a Section 27 Statement so you can access your deposit early where possible
- Managing electronic settlement through PEXA
- Acting quickly to protect you if a buyer is unable to settle on time
- Selling commercial and mixed-use property, including GST and going-concern issues
Your Section 32 Vendor’s Statement
Under the Sale of Land Act 1962, you must give every buyer a Section 32 Vendor’s Statement before they sign the contract of sale. It discloses the key facts about your property, including the title and plan, covenants and easements, council and statutory information, rates and outgoings, planning and zoning, connected services, owners corporation details where relevant, and any notices affecting the land. We prepare yours thoroughly so it is complete and compliant from the start.
Why Getting Your Section 32 Right Matters
A Section 32 that is not properly prepared can create real difficulties later. If something is missing or incorrect, a buyer may be able to end the contract before settlement, recover their deposit and any interest on it, and recover their legal costs. You could also be left paying your agent’s commission and marketing even though the sale did not proceed, then remarketing and meeting a second round of costs. That is a great deal to risk over one document, which is exactly why we take such care with yours.
Releasing Your Deposit Early (Section 27)
You do not always have to wait until settlement to access the deposit. In the right circumstances we can prepare and serve a Section 27 Statement on the buyer, which allows the deposit, less the agent’s commission and costs, to be released to you early. If the buyer does not object, the deposit can usually be released about 28 days after the statement is served, which can help if you are relying on those funds for your next purchase.
Selling Commercial Property
We act for vendors selling offices, retail shops, factories, warehouses and other commercial premises. Commercial sales bring in additional matters such as GST, whether the sale can proceed as a going concern, and any existing leases or tenancies that pass to the buyer. We work through each of these with you and coordinate with your accountant so the tax position and structure are handled correctly.
If Settlement Is Delayed
Occasionally a buyer is unable to settle on time. If that happens, we act promptly to protect your position, whether that means charging default interest, rebooking settlement, or serving a notice of rescission where a delay is serious. Because we are already across your matter, there is no delay in bringing someone up to speed when timing matters most.
Frequently Asked Questions
When do I need to have my Section 32 ready?
Before a buyer signs the contract of sale. In practice that means having it prepared before you go to market, so you are ready to accept an offer as soon as one arrives. We can usually prepare a Section 32 promptly, so it helps to contact us as soon as you decide to sell.
What happens if my Vendor’s Statement has a mistake in it?
A buyer may be able to end the contract before settlement and recover their deposit and costs, even if the sale is well advanced. This is why we prepare Section 32 statements carefully and in full rather than cutting corners to reduce a fee.
Can I access my deposit before settlement?
Often, yes. We can prepare and serve a Section 27 Statement on the buyer, and if there is no objection the deposit, less the agent’s commission and costs, can usually be released to you about 28 days later. We will let you know whether your sale qualifies.
Do I pay stamp duty when I sell?
No. Land transfer duty (stamp duty) is paid by the buyer, not the seller. As a vendor your main costs are the agent’s commission, marketing, and your legal and conveyancing fees. Capital gains tax may apply depending on your circumstances, which is a matter for your accountant.
Can you help me sell a commercial property?
Yes. We act on commercial and mixed-use sales as well as residential, including the GST, going-concern and lease considerations that come with them.
Contact Our Conveyancing Lawyers in Melbourne
If you are preparing to sell a property in Victoria, we would be glad to prepare your Section 32 and contract of sale and see your sale through to settlement. Call (03) 9629 2211 or complete our online enquiry form today.
