When to engage your conveyancer in Melbourne
Early. Preparing an accurate Section 32 means gathering title, planning and outgoings information before a buyer can sign, so engaging your conveyancer as you appoint your agent keeps your sale moving.
Who can act for you in Victoria
In Victoria you can use a licensed conveyancer or a solicitor. Both can prepare your Section 32, handle the contract and complete settlement.
Vendor disclosure in Victoria
Victoria's key document is the Section 32 vendor's statement, given to the buyer before they sign. It covers title, planning, outgoings, notices and more. An incomplete or inaccurate statement can let a buyer rescind any time before settlement, so it is prepared carefully by your conveyancer or solicitor.
Cooling-off in Victoria
Private sale buyers get a three business day cooling-off period, with a penalty of $100 or 0.2% of the price (whichever is greater). There is no cooling-off for auctions or sales within three clear business days either side of an auction.
Our view
The Section 32 is where Victorian sales are won or lost. We think it pays to have it prepared thoroughly and early: a clean vendor statement removes the main reason a buyer can walk away before settlement.
Selling and buying at the same time?
Stamp duty is a buyer cost, so you won't pay it on the property you're selling. But if you're buying your next Melbourne home, transfer duty is usually the largest government cost of the purchase, and it belongs in your budget from the start.
Two common Melbourne scenarios
Selling to upsize
You're selling your Melbourne home and buying a larger one. Brief your conveyancer early so your paperwork is ready, line up both settlements for the same day where you can, and estimate the stamp duty on the new place so your borrowing adds up.
Selling an investment
Selling a Victoria investment property means tidy title and rates information and, where it applies, sorting tenancy and body corporate details. Getting your conveyancer on early keeps a tenanted sale on track to settlement.
Nothing to pay until settlement
Your conveyancing and other selling costs can be funded and repaid from your sale proceeds at settlement, so getting started early does not mean paying early. How pay at settlement works.
Useful Victoria resources
Frequently asked questions
When should I engage a conveyancer to sell in Melbourne?
As you appoint your agent, or earlier. Your Section 32 must be ready before a buyer can sign, and it takes time to gather the certificates it needs.
What is a Section 32 and when is it given?
It is Victoria's mandatory vendor's statement, given to the buyer before they sign the contract. Errors can give a buyer the right to rescind before settlement.
Who can do my conveyancing in Victoria?
A licensed conveyancer or a solicitor. Both can act for a seller in Victoria.
Is there a cooling-off period when selling in Victoria?
Buyers in a private sale have a three business day cooling-off period. Auction sales, and sales within three clear business days of an auction, have no cooling-off.
Do I pay stamp duty when I sell in Victoria?
No. Land transfer duty is paid by the buyer. If you are buying next, our Victorian stamp duty calculator estimates it for you.
