Introduction to contract preparation

To sell a property in Victoria, you’re local conveyancing lawyer or property lawyer in Melbourne will need to draft two key documents:

Contract of sale

An agreement between a buyer and seller of property in Victoria which contains all the terms relating to the sale and settlement of the property.

Vendor statement

Also known as a ‘Section 32’, the vendor statement contains disclosures about the property that prospective buyers need to know by law, including certificates from government authorities (also known as ‘searches’).

Summary

Collectively, these documents are your sale documents that your local real estate agent in Melbourne or Victoria will issue to prospective buyers.

Conveyancing lawyer vs conveyancer

You may have noticed I used the term conveyancing or property lawyer earlier, not a local conveyancer.

A conveyancing lawyer or property lawyer in Melbourne is qualified, trained and insured to prepare contracts. A conveyancer must rely upon the services of a Melbourne based lawyer that specialises in conveyancing to prepare the sale documents.

If the local suburban conveyancer is out of their insured scope by preparing your sale documents themselves (which happens easily), you may not be covered under their professional indemnity insurance policy if the documents are prepared inadequately and you need to make a claim.  

Now that’s concerning.

An experienced conveyancing lawyer or property lawyer in Melbourne or Victoria will be able to prepare a Contract of Sale and Vendor Statement with care, skill and diligence to ensure the documents are correct, and they are equipped to deal with any complexities or problems that arise along the way.

A responsible conveyancer in Victoria will always outsource or assign the task of preparing sale documents to an experienced conveyancing lawyer or property lawyer.

So, for added piece of mind and protection, and to save yourself money in the long run, it is best to hire an experienced conveyancing lawyer or property lawyer that specialises in conveyancing from the start.  

Timeframe to prepare the contract of sale and vendor statement

On average, it takes between 1 to 2 weeks for the sale documents to be prepared because searches can take up to 2 weeks to be supplied to your conveyancing lawyer by government or public authorities.

It is important that when choosing your conveyancing lawyer, you are satisfied that:

Your conveyancing lawyer in Melbourne works quickly

Your conveyancing lawyer in Melbourne works quickly to:

• order the searches from authorities on the same day you engage the conveyancing lawyer.

• issue the Contract of Sale and Vendor Statement to the selling agent immediately upon receiving all searches. 

A quick and reliable conveyancing lawyer or property lawyer will ensure that the sale documents are issued as soon as possible without delay. 

You review the work before its issued

The conveyancing lawyer should provide you with an opportunity to review the Contract of Sale and Vendor Statement to confirm these documents are factually correct.

Best time to engage a conveyancing lawyer in Victoria

The idea is to have your sale documents prepared in time to issue to prospective buyers.

If your sale documents are not prepared in time, prospective buyers in the Melbourne or the regional Victoria property market may become disinterested by having to wait for the sale documents and move onto the next property for sale. 

To ensure the Contract of Sale and Vendor Statement are available to prospective buyers, it’s important to engage an experienced conveyancing lawyer or property lawyer at least 2 weeks before your advertising campaign starts. The earlier the better.

By giving your lawyer at least a 2-week leeway to prepare the sale documents, it should allow enough time for your lawyer to receive the searches necessary to finalise and issue the Contract of Sale and Vendor Statement.

At Proptech Legal, our conveyancing lawyers in Melbourne work quickly to ensure your sale documents are issued without delay to increase your chances of securing a purchaser to buy your property.

Once we’re engaged, we order searches ASAP and keep you and your local real estate agent updated every step of the way.

That's just one way we give our client’s value for money.

Need an online conveyancing quote?

Get your quick and easy online conveyancing quote by calling (03) 8832 8032 today. Or why not engage us directly through our website in 3 easy steps:

Step 1: Visit www.proptechlegal.com.au and grab a quote

Step 2: Select the service you want to cart

Step 3: Checkout and proceed to payment. Done!