What's a Section 32, and why buyers should read it?
Make sure you’re going into a property purchase with all the information.
No one wants any nasty surprises once the sale contract has been signed. This is why understanding what a Section 32 is, and why you need to read it, is so crucial.
Otherwise known as a vendor statement, this is an important part of any real estate transaction, explains Ken Fung, lawyer of legal delivery for Conveyancing.com.au. The Section 32 provides a level of transparency that allows the sale/purchase to proceed without any degree of doubt. After all, you can’t assume anything when purchasing a property, Fung says. So, what does it entail?