Browse Forums General Discussion 1 May 21, 2010 8:41 pm hi people im just wondering if someone can help me. my builder NBG has told me he wants the section 32 of my land contract now i just want to know if he just wants the details of my block or other personal information ie price and name of who i brought it off? any help will be much appreciated thanks Re: section 32? 2May 21, 2010 9:14 pm We gave our builder the section 32. It should contain all relevant permitting requirements, ie. if there are any overlays etc. (I say should because ours missed the critical flood overlay). Our section 32 did not contain details of the cost, but as soon as you give the builder the address of the property you bought they do not need to be very clever to be able to find our who previously owned the property and how much you paid, most real estate agents jump over themselves to give out that info. View our blog at: http://room4acubby.blogspot.com/ Re: section 32? 3May 21, 2010 9:22 pm ohh ok because in my land contract i cant actually find where it says section 32? it has details of the block and restrictions of building is that the section because im all new to buying land as it is my first time so sorry if im asking maybe stupid questions Re: section 32? 4May 21, 2010 9:27 pm Here is the definition of a section 32 (this is for Victoria only I think). "What is the Section 32? A legal document The Section 32 is a document provided by the seller of real estate (vendor) to an intending purchaser. Its name comes from Section 32 of the Sale of Land Act, which requires a vendor to provide certain information to a purchaser BEFORE a contract of sale is signed. In general terms, if the vendor fails to provide the information required by the Act before the contract is signed, the purchaser will be able to cancel the contract. Of course, there are exceptions to this rule, and purchasers should not assume that any “technicality” will allow them to end the contract. Before a contract is signed is the best time to get legal advice from a qualified lawyer, as the opportunities to end the contract can be severely limited if legal advice is sought after the sale has been finalised. In recent years, the information required in a Section 32 has been expanded and extended. Interpretation of the Section 32 requirements, particularly those relating to building works undertaken by an “owner-builder”, can be quite confusing. In addition, failure to comply with some of the rules can attract huge monetary penalties. See What's in the Section 32 for information on what is required in a Section 32" taken from: http://www.lawyersconveyancing.com.au/section.asp From this I take it that even if you bought from a developer you should have received a section 32 or at least a vendors statement, if you follow the above link you should be able to find more info. View our blog at: http://room4acubby.blogspot.com/ Re: section 32? 6May 21, 2010 9:42 pm Hi S&M. The Section 32 (or Vendor's Statement) is a document attached to, and forming part of, the contract of sale. If you look at your contract the front few pages will have all of your details, price paid, vendor details etc. That page is called the Particulars. The next few pages will have details of general conditions and outline any special conditions that may have been applicable in your sale (soil test, sub to finance etc). After that should be a second document that has Section 32 or Vendor's Statement at the top. On the front page it will probably say something about Council Rates and water rates, it may have what services are connected or available. They're all different (because, obviously, each property is different) but they follow basically the same format. When you signed your contracts you would have signed in two places, one in the contract and one in the vendor's statement. The signing page on the vendor's statement is usually on the second page, so if you find that you'll be getting close to the front of the vendor's statement. Usually the Vendor's statement will be a bit thicker than the contract part. Hope that made sense, and if you're still having trouble finding it let us know and we'll try to be a bit more specific. |