A Section 32 statement, officially called a Vendor Statement, is a comprehensive document a seller must provide to potential buyers before a property sale in Victoria. It contains detailed information about the property, outlining everything known to the vendor that could affect the buyer’s decision.
As of December 2025, preparing a Section 32 is typically handled by your chosen conveyancer or solicitor. It includes details like the property’s title, planning permits, rates notices, mortgages, easements, and any building inspections already undertaken. Currently in Melbourne, particularly in the Eastern Suburbs where Fletchers has a strong presence, buyers are increasingly scrutinising these statements. They’re looking for transparency regarding potential issues – for example, heritage overlays common in areas like Balwyn, or zoning restrictions in Ringwood. The statement also details any Owners Corporation information if applicable. Preparing a thorough Section 32 can take 10-14 days, and the cost is generally between $300 – $600, depending on the complexity of the property. In 2026, we anticipate continued emphasis on disclosure, with buyers utilising building and pest reports alongside the Section 32 to make informed decisions.
Essentially, the Section 32 statement is a legal requirement designed to ensure a transparent and informed property transaction for all parties involved.