Section 32 is the binding contract of sale between buyer and seller. In this article, we explore what is required, the possible amendments which can be made, and how you can ensure everything is completed correctly with your conveyancer.
The Section 32 is a document that contains information about the land being purchased in a transaction. It provides information that may not be readily visible when inspecting the property.
Section 32 discloses the zoning of the land, sharing how the local council will allow it to be used. This is important for developers as it will show whether the land can be subdivided, used for local or commercial purposes, or whether it can be developed into both a residential and commercial site.
Section 32 covers land use, including any easements or restrictions. It covers whether the land can be used by a third party and whether the land has road access.
Section 32 also covers whether the property is in a bushfire danger area.
The title is a detailed description of the property and land. The importance of the title listed under the Section 32 is that it verifies that the land is valid and legally able to be sold by the vendor.
Before a property is sold, the buyer must be presented with a Section 32. This is when a conveyancer can step in and assist. Conveyancers can make sure that no sections are missing from the document. They can also assure that your rights as a buyer are being respected.
One of the biggest ways a conveyancer can assist with a Section 32 document is through issuing amendments. For example, the Section 32 may not cover whether the house is located in commercial agriculture areas, which can impact the sale.
A conveyancer can request that more sections, such as the one above, be added.
A Section 32 is often said to be “the good” without “the ugly”. It aims to draw the buyer in, often through not providing full information as to the property. There have been case studies where clients find they are restricted as to what can be built on their property, and that they paid too much for a house with many restrictions.
This is where a conveyancer can step in and ensure that you are being given all the necessary details.
Even if you are not interested in amendments, it is still important to receive legal help before signing a Section 32. This is the best way to ensure that everything being done is legal and valid, as well as complete. Signing an incomplete Section 32, and then finding out something big about your home, would not be in your best interests.
There’s no reason to navigate a difficult situation on your own.