Before you sign. Through to settlement.
Whether you're buying your first home, an investment property, or your next family home, ALS helps you understand the legal side of the purchase, from the contract in front of you now through to the day you collect the keys.
Before you get too attached, it's worth knowing what you're agreeing to.
It's an exciting moment: you've found a property and you're ready to move. But once you sign a Contract of Sale, you're bound by its terms. The best time to involve a conveyancer is before you sign, while there's still room to ask questions, request changes, or simply understand what you're committing to.
If you've already signed, don't worry. Get in touch and let ALS know where things are up to. There's usually still plenty ALS can help with.
Received a Contract of Sale or Section 32? Understand it before you decide.
A Contract of Sale sets out the price, conditions and important dates for the purchase. The Section 32 (Vendor Statement) is a separate document the seller must provide, covering things like title details, zoning, outgoings, easements and any known issues with the property.
Together, these documents contain most of what you need to know before committing, but they're written in dense, formal language that isn't always easy to follow. ALS reviews them with you and explains, in plain English, what the key terms and dates actually mean for your purchase and what (if anything) may need attention before you sign.
- What the settlement date and any special conditions mean for you
- Anything in the Section 32 worth asking the seller about
- What you're agreeing to if you sign as-is
What ALS looks at on your behalf
Every purchase is different, but this is generally where ALS's attention goes during a buying transaction.
Contract review
A close read of the Contract of Sale and Section 32, explained in plain language, so you know exactly what you're signing and why it matters.
Property searches & checks
Relevant property information is checked to help build a clearer picture of the property and flag anything that may be worth understanding further.
Settlement coordination
Keeping track of key dates and liaising where needed as the transaction moves from signed contract through to settlement day.
Buying in different circumstances
Making an offer
Thinking about putting in an offer? It's worth having a conveyancer ready to review the contract quickly once it's issued, so you're not left waiting under time pressure.
Buying at auction
There's generally no cooling-off period once the hammer falls at auction, which makes reviewing the contract and Section 32 beforehand especially important. ALS can look over the paperwork ahead of auction day.
First-home buyers
New to all of this? ALS explains each step from scratch, in plain English, without assuming you already know the terminology.
Investors
Buying an investment property involves the same legal groundwork as a home purchase. ALS helps make sure nothing is overlooked amid the numbers.
From an accepted offer to the keys in your hand
Your offer is accepted, or the contract is signed
Once terms are agreed, the countdown to settlement effectively begins. If you have a cooling-off period, this is the time ALS reviews everything closely with you.
Contract review and any conditions are worked through
ALS checks the contract and Section 32 in detail and lets you know about anything that needs your attention, such as special conditions or finance clauses.
Searches and preparation for settlement
Relevant property searches are conducted and the necessary preparation for settlement gets underway in the background.
Finance and final checks
As settlement approaches, ALS helps make sure the necessary pieces (including coordination with your lender where relevant) are lining up.
Settlement day
Ownership formally transfers to you, funds are exchanged, and once that's complete, you're notified that you can collect the keys.
You're allowed to ask what things mean.
If this is your first time buying property, terms like "Section 32", "cooling-off period" and "settlement" can feel like a language of their own. That's completely normal. Most first-home buyers have never come across these documents before.
ALS explains each part of the process as it comes up, in plain English, so you understand what's happening and why, not just what to sign.
Common questions from property buyers
Where possible, it's worth having the Contract of Sale and Section 32 reviewed before you sign, since this is when you have the most room to ask questions or negotiate changes. If you've already signed, get in touch anyway. ALS can advise based on where things are up to.
The Contract of Sale sets out the terms of the purchase, including price and conditions. The Section 32 (Vendor Statement) is a separate disclosure document the seller provides, covering details like title, zoning and known property issues. Both matter, and ALS can talk you through each.
Generally, the contract is signed, any cooling-off period or conditions come into play, and preparation for settlement begins. ALS keeps you informed about what's happening and what, if anything, you need to do.
In Victoria, a property bought at auction generally does not have a cooling-off period, which is why reviewing the contract and Section 32 before auction day is worth doing. ALS can go through the paperwork with you beforehand.
If you have a Contract of Sale or Section 32, send them through and let ALS know where you're up to. If you haven't received documents yet, that's fine too. Get in touch and explain your situation.
Settlement is when ownership formally transfers to you and the purchase funds are exchanged. ALS helps you understand what to expect in the lead-up, so the day itself isn't a surprise.
Many Victorian property settlements today are completed electronically. Whether this applies to your purchase depends on your specific transaction. ALS can explain what to expect once your details are known.
Have a contract you'd like reviewed?
Send it through, or just tell ALS where you're up to in the buying process. Seema will explain what happens next.