A section 32 is a document that the seller must provide all their prospective buyers, detailing information about the property as required by legislation. Therefore, it is also known as the vendor’s statement. The section 32 comes in two parts, the part that is completed and signed by the seller, and the second part is a combination of all the certificates that must be attached to the section 32. Depending on the conveyancer or law firm that prepared the section 32, it will come in different quality. It is important that you get your own conveyancing lawyer to read through the section 32 to make sure that all the required information is contained and that they are up to date.
If the section 32 is not properly drafted by the seller, it may allow you a way out of the contract, but it may cost you even more to attempt to get out because you would be forced to challenge the validity of the contract. Hence, it is always recommended that you avoid this problem by just taking the opportunity to read through the document and understand everything inside before you sign.
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