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Frequently Asked Questions About Conveyancing in Victoria

Buying or selling property can involve many legal documents, important deadlines and decisions. At Prox Conveyancing, we understand that clients often have questions about the conveyancing process.

Below are answers to some common questions about buying, selling, property contracts, settlements, fees and property documents in Victoria.

Buying Property in Victoria

What does a conveyancer do?

A conveyancer assists with the legal process of buying or selling property. In Victoria, a conveyancer can help prepare and review property documents, conduct property searches, manage contracts, communicate with other parties and coordinate settlement.

For buyers, a conveyancer can assist with reviewing the Contract of Sale and Section 32 Vendor Statement, arranging searches and ensuring the transfer of ownership is completed correctly.

For sellers, a conveyancer can prepare sale documents, manage the contract process and assist with settlement.

Read more about Conveyancing for Buyer in Victoria and Conveyancing for Sellers in Victoria.

Ideally, you should engage a conveyancer before signing a Contract of Sale.

For buyers, having a conveyancer review the Contract of Sale and Section 32 Vendor Statement before signing can help identify potential issues and ensure you understand the terms of the purchase.

For sellers, engaging a conveyancer before marketing the property allows time to prepare the Contract of Sale and Section 32 Vendor Statement.

Early involvement can help reduce delays and provide confidence throughout the transaction.

Read more about Conveyancing for Buyer in Victoria and Conveyancing for Sellers in Victoria.

Before signing a Contract of Sale in Victoria, buyers should carefully review important documents and consider obtaining professional advice.

Key matters to check include:

  • The Contract of Sale terms and special conditions
  • The Section 32 Vendor Statement
  • Property title information
  • Easements, covenants or restrictions affecting the property
  • Owners corporation information (if applicable)
  • Any conditions relating to finance, building inspections or other matters

Once signed, a Contract of Sale is generally legally binding, so it is important to understand the documents before committing.

Read our detailed guide: Contract Review in Victoria. You can also learn more about Conveyancing for Buyers in Victoria.

Yes. A buyer may be able to make an offer subject to finance, depending on the terms agreed with the seller. A finance condition can give the buyer time to obtain formal loan approval before becoming unconditionally committed to the purchase.

The exact wording and conditions are important, so buyers should understand the finance clause before signing the Contract of Sale.

Read our detailed guide: Subject to Finance in Victoria: What Buyers Need to Know Before Signing.

Yes. A buyer may be able to make an offer subject to a building and pest inspection, depending on the terms agreed with the seller.

A building and pest condition can give the buyer an opportunity to have the property inspected before becoming unconditionally committed to the purchase. The wording of the condition is important, including what happens if the inspection identifies problems with the property.

Buyers should understand the building and pest clause before signing the Contract of Sale.

Read our detailed guide: Subject to Building and Pest Inspection in Victoria: What Buyers Need to Know.

In Victoria, a buyer generally has a three clear business day cooling-off period after signing a Contract of Sale for residential property, subject to certain exceptions.

During the cooling-off period, the buyer may be able to end the contract by giving written notice to the seller. A statutory fee may apply.

There are important exceptions and specific requirements, so buyers should understand whether the cooling-off provisions apply to their particular purchase before relying on them.

Read our detailed guide: Cooling-Off Period When Buying Property in Victoria.

A Section 32 Vendor Statement is a legal disclosure document provided by a seller to a buyer before the buyer signs a Contract of Sale in Victoria.

It contains important information about the property, including title details, mortgages, easements, covenants, planning information, rates and other relevant matters.

The purpose of the Section 32 is to provide buyers with information about the property before entering into the contract.

Buyers should carefully review the Section 32 and seek advice if they do not understand any information provided.

Read our detailed guide: Section 32 Vendor Statement Victoria: What Buyers Need to Know Before Signing. You can also learn more about our Contract Review service.

After a Contract of Sale is signed, the transaction moves toward settlement.

The conveyancer will usually:

  • Confirm contract details
  • Communicate with the other party’s representative
  • Arrange required searches and documents
  • Prepare settlement documents
  • Coordinate with lenders where required
  • Arrange electronic settlement through PEXA

Buyers and sellers should ensure they complete any required steps before settlement, including providing information requested by their conveyancer.

Read our detailed guide: What Happens After Signing a Property Contract in Victoria. You can also learn more about Conveyancing for Buyers in Victoria.

Selling Property in Victoria

What documents are required to sell a property?

When selling property in Victoria, sellers generally need a Contract of Sale and a Section 32 Vendor Statement.

Depending on the property, additional documents may be required, such as:

  • Title documents
  • Planning information
  • Owners corporation information (if applicable)
  • Rates and other property information

A conveyancer can assist with preparing and reviewing the required documents to ensure the sale process starts correctly.

 

Read our detailed guide: Seller Conveyancing in Victoria and Selling Property in Victoria: What Does a Conveyancer Do for Sellers?

In Victoria, the seller’s conveyancer or legal practitioner usually prepares the Contract of Sale and Section 32 Vendor Statement before the property is sold.

The documents should accurately reflect the property details and the terms of the proposed sale.

Preparing these documents correctly before marketing the property can help avoid delays and potential issues during the sale process.

 

Read our detailed guide: Seller Conveyancing in Victoria and Selling Property in Victoria: What Does a Conveyancer Do for Sellers?

It is best to engage a conveyancer before your property is advertised for sale or before you sign a Contract of Sale.

Your conveyancer can help prepare or review the Contract of Sale and Section 32 Vendor Statement, check the title and relevant property information, and help ensure the required documents are in place before you enter into the contract.

Engaging a conveyancer early can help identify potential issues before the property is sold and make the settlement process smoother.

Read more about Conveyancing for Sellers in Victoria.

A Section 27 statement is a document used by a seller in Victoria to request the early release of the deposit paid under a Contract of Sale, subject to the requirements of the Sale of Land Act 1962 (Vic) being satisfied.

The buyer must receive the required information, and the deposit can only be released early if the relevant statutory requirements are met.

A Section 27 statement should be prepared carefully because an incorrect or incomplete statement may prevent the deposit from being released before settlement.

Read our detailed guide: Section 27 Statement in Victoria: What Sellers Need to Know.

Yes. You can generally sell a property even if there is a mortgage registered over it.

As part of the sale and settlement process, your conveyancer will communicate with your lender and arrange for the mortgage to be discharged at settlement. The outstanding loan amount is generally paid from the settlement funds, subject to the lender’s requirements and the overall settlement figures.

It is important to tell your conveyancer about any mortgage over the property when you engage them so the discharge process can be arranged early.

Read our detailed guide: Selling a Property With a Mortgage in Victoria.

Settlement & After Settlement

What happens on settlement day?

Settlement is the final stage of a property transaction when ownership transfers from the seller to the buyer.

On settlement day:

  • The buyer provides the balance of the purchase price
  • The title is transferred to the buyer
  • The seller receives the sale proceeds
  • The buyer can generally collect the keys after settlement is completed

Most Victorian property settlements are completed electronically through PEXA, with conveyancers coordinating the process on behalf of their clients.

Read our detailed guide: What Happens on Settlement Day in Victoria? A Step-by-Step Guide

If settlement cannot take place on the scheduled date, the parties may need to agree on a new settlement time or deal with the consequences under the Contract of Sale.

A delay can occur for various reasons, including issues with finance, documents, lender requirements or settlement adjustments.

The consequences of a delayed settlement can depend on the terms of the contract and the reason for the delay. Additional costs or interest may also arise in some circumstances.

If you expect settlement may be delayed, contact your conveyancer as soon as possible so they can communicate with the relevant parties and help determine what needs to be done.

Read our detailed guide: What Happens If Settlement Is Delayed in Victoria?

In most property purchases, the buyer receives the keys once settlement has been completed and the seller’s agent is authorised to release them.

The exact arrangements can depend on the Contract of Sale and the settlement process. Buyers should not assume they can collect the keys before settlement has been completed unless this has been specifically agreed.

If you are buying a property, your conveyancer can help confirm the settlement arrangements and advise when you can collect the keys.

Read our detailed guide: Can Someone Pick Up the Keys on My Behalf on Settlement Day?

Once settlement has been completed, the transaction is generally finalised and the relevant parties can take the next steps for the property.

For a buyer, this may include collecting the keys, moving into the property, arranging utilities and updating the relevant property records. Your conveyancer will also attend to the post-settlement steps required for the transaction.

For a seller, the sale proceeds are distributed in accordance with the settlement arrangements, including payment of any mortgage or other amounts that need to be paid at settlement.

Read our detailed guide: What Happens After Settlement in Victoria?

Fees & Costs

How much does conveyancing cost in Victoria?

The cost of conveyancing in Victoria depends on the type and complexity of the transaction.

The total cost may include:

  • Professional conveyancing fees
  • Property searches
  • Government fees
  • Electronic settlement fees
  • Other third-party charges

The cost may vary depending on whether you are buying, selling, transferring property or dealing with a more complex transaction.

A professional conveyancer should provide clear information about fees and expected costs before being engaged.

Read our detailed guide: Conveyancing Cost Victoria: A Complete Guide to Conveyancing Fees and Charges

Conveyancing disbursements are costs paid to third parties during the conveyancing process.

Examples may include:

  • Property searches
  • Title searches
  • Government charges
  • Electronic settlement fees
  • Other required document fees

Disbursements are separate from the conveyancer’s professional fee and may vary depending on the transaction.

 

Read our detailed guide: Conveyancing Cost Victoria: A Complete Guide to Conveyancing Fees and Charges

Some conveyancers offer fixed professional fees for standard property transactions. However, additional costs may apply depending on the circumstances of the matter.

Before engaging a conveyancer, you should understand:

  • What services are included
  • Whether searches and other costs are included
  • Whether additional charges may apply

Clear cost information helps clients make an informed decision.

 

Read our detailed guide: Conveyancing Cost Victoria: A Complete Guide to Conveyancing Fees and Charges

 

Yes. In addition to your conveyancing professional fees, you may need to pay government charges, searches and other transaction-related costs.

Depending on the type of property transaction, these may include title and property searches, registration fees, electronic settlement fees, transfer or mortgage registration fees, and other out-of-pocket expenses.

For buyers, there may also be costs such as land transfer duty (stamp duty), depending on the property and your circumstances. Sellers may have costs associated with discharging a mortgage or other registered interests.

Your conveyancer can provide an estimate of the expected searches, government charges and other disbursements relevant to your transaction.

Read more about Conveyancing Costs in Victoria.

Property Titles, Searches & Other Issues

Can a property title have issues that affect a sale or purchase?

Yes. A property title can contain registered interests or other information that may need to be considered before a property is bought or sold.

These may include mortgages, caveats, easements, covenants and other registered interests. Some title issues may affect how the property can be dealt with or may require additional steps before settlement.

A current title search can help identify registered interests and provide an up-to-date picture of the property’s title.

If a potential title issue is identified, your conveyancer can explain the conveyancing implications and help determine what further steps may be required.

Read more about Property Searches in Victoria.

A caveat is a legal notice recorded on a property title that protects a person’s claimed interest in the property.

A caveat does not transfer ownership of the property. Instead, it acts as a warning that another person may have an interest or claim affecting the property.

If a caveat appears on a title, it is important to understand who lodged it and what interest it protects before proceeding with a transaction.

 

Read our detailed guide: What is a Caveat in Victoria? Complete Guide to Lodging, Removing and Understanding Property Caveats

 

An easement is a legal right that allows a person, organisation or authority to use part of another person’s land for a specific purpose.

Common examples include easements for:

  • Drainage
  • Sewerage
  • Water
  • Electricity
  • Access

An easement does not necessarily prevent you from buying or using a property, but it may affect how certain parts of the land can be used.

Buyers should review any easements affecting a property before purchasing.

 

Read our detailed guide: What Is an Easement on a Property Title in Victoria?

Property searches are enquiries carried out during the conveyancing process to obtain important information about a property.

Depending on the transaction, searches may provide information about:

  • Council rates
  • Planning information
  • Land tax
  • Water charges
  • Property restrictions
  • Other matters affecting the property

Property searches help buyers understand potential issues before settlement and make informed decisions about their purchase.

 

Read our detailed guide: What Are Property Searches in Victoria and Why Are They Important?

Losing an old paper Certificate of Title does not mean that you have lost ownership of your property.

Victoria’s land registration system is now predominantly electronic, and existing paper Certificates of Title may need to be dealt with if they are required for a property transaction.

If you cannot find your paper Certificate of Title, your conveyancer can conduct a current title search and determine whether the property already has an electronic Certificate of Title or whether further action is required.

If a lost or destroyed paper title needs to be replaced, additional Land Registry requirements may apply.

Read our detailed guide: Lost Property Title in Victoria: What to Do If You Have Lost Your Certificate of Title.

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