Key components of an offer
The Section 32 or Vendors Statement is a document prepared by the vendors solicitor or conveyancer which gives you relevant information regarding the property. It will tell you what services are connected, rates details, planning permits and well as including a copy of the title amongst other necessary items. It’s important your solicitor or conveyancer looks over this document to make sure everything is correct.
Attached to the Section 32 is the contract note or contract. This document includes all relevant purchase information such as the purchase price, settlement date, deposit paid and all your relevant details.
Once you pay your deposit, it will be held in a trust account. The usual deposit is 10% of the purchase price, but sometimes a different figure can be negotiated with your offer.