Victoria’s rules on vendor disclosure and cooling-off differ from SA and NSW in ways that catch interstate buyers. Asset Conveyancing acts on Victorian purchases and sales from our Adelaide head office, with a virtual office in Victoria and electronic settlement through PEXA.
What is a Section 32 vendor statement?
The Section 32 is the vendor’s disclosure document required by section 32 of the Sale of Land Act 1962. Under the current law the vendor must give it to the buyer before the buyer signs the contract.
It covers title, mortgages, easements, covenants and caveats, planning zones and overlays, rates and outgoings, recent building permits, and owners corporation details for units. If the vendor does not provide it, or it is materially wrong, the buyer may be able to end the contract before settlement.
Victoria passed the Consumer Legislation Amendment Act 2026 in September 2026. From a date to be proclaimed (no later than 1 June 2027), the Section 32 must be available from 14 days before an advertised auction or fixed-date sale, and deposit release rules change. Until then the existing rules apply.
What contract is used in Victoria?
Most residential sales use the standard Contract of Sale of Real Estate: particulars of sale (price, deposit, settlement date, finance condition), general conditions and special conditions. The special conditions are where the risk usually sits.
How long is the cooling-off period in Victoria?
A buyer can end the contract within three clear business days of the day they sign it. Notice must be in writing to the vendor or the vendor’s agent.
- What it costs. The buyer gets a refund of all money paid except $100 or 0.2% of the purchase price, whichever is more.
- Auctions. There is no cooling-off if you buy at a publicly advertised auction, or within three clear business days before or after one.
- Other exceptions. Property used mainly for industrial or commercial purposes, farming land over 20 hectares, buyers who are estate agents or companies, and buyers who previously signed a contract for the same land on substantially the same terms.
Buying just after an auction. If a property is passed in and you sign within three clear business days of the auction, you have no cooling-off right. Have the Section 32 and contract reviewed before you make that offer.
What is GAIC and why does it matter?
The Growth Areas Infrastructure Contribution (GAIC) is a levy on certain land in Melbourne’s growth areas, administered by the State Revenue Office Victoria. Certain dealings, including some transfers, subdivisions and building permit applications, can trigger it. The vendor statement must disclose GAIC matters, and buyers of affected land, mostly developers and buyers of larger fringe blocks, should know who carries any liability before signing.
Who collects duty and registers title in Victoria?
Land transfer duty is assessed by the State Revenue Office Victoria, which also administers foreign purchaser duty, land tax and GAIC. Rates and concessions change, so check current figures with the State Revenue Office. Title is registered with Land Use Victoria, and Victorian settlements are now almost always completed electronically.
How Asset Conveyancing handles Victorian matters from Adelaide
Victorian conveyancing does not need a local shopfront. Searches, certificates and settlement are electronic, and one qualified professional runs your file from start to completion. Our principal, Paul Sande, holds conveyancer licences in numerous states, and our team has handled Victorian work including settlements on a major subdivision development in Melbourne for a developer client.
- Review the Section 32 and contract. Ideally before you sign.
- Diarise every date. Cooling-off, finance, deposit and settlement deadlines are recorded from day one.
- Prepare the settlement. Certificates, adjustments and lender liaison.
- Settle through PEXA. The transfer is lodged with Land Use Victoria.
For sellers, we prepare the contract and Section 32 so the disclosure is complete before marketing starts. See our pages on buying property, off the plan purchases and buying at auction, or compare the rules in New South Wales.
Common questions about conveyancing in Victoria
When do I get the Section 32 in Victoria?
Under the current law, before you sign the contract. Reforms passed in September 2026 will require it to be available from 14 days before an advertised auction or fixed-date sale, from a proclaimed date no later than 1 June 2027. Either way, have it reviewed before you sign.
How much do I lose if I cool off in Victoria?
The vendor can keep $100 or 0.2% of the purchase price, whichever is more. Everything else you paid must be refunded. You must give written notice to the vendor or their agent within three clear business days of the day you signed. Keep proof of when it was sent.
Does cooling-off apply to auctions in Victoria?
No. There is no cooling-off for a purchase at a publicly advertised auction. The exemption also covers contracts signed within three clear business days before or after the auction, which catches pre-auction offers and deals done after a property is passed in. Treat any of those contracts as binding the moment you sign.
Can a conveyancer in Adelaide handle my Victorian purchase?
Yes, provided they are properly licensed for Victoria. Victorian conveyancing is document based and settles electronically through PEXA, so location makes little practical difference. Asset Conveyancing’s principal holds conveyancer licences in numerous states, and one professional manages your matter from contract review through to settlement.