Purchase of Property

How We Can Help

Initial Consultation

We begin by understanding your goals, preferred property type, and budget. During this stage, our lawyers review the Contract of Sale and Section 32 Vendor Statement, identify any red flags, and explain your rights and obligations — so you can make an informed decision before signing.

Negotiation

Initial Consultation

Once you’ve found the right property, we help you structure your offer strategically and negotiate contract terms that work in your favour. Whether it’s adjusting settlement dates, finance clauses, or other conditions, our goal is to ensure the contract reflects your best interests.

Due Diligence

Initial Consultation

Finance Management

We assist you with conducting comprehensive checks on the property, including title searches, zoning, planning restrictions, easements, and council requirements. This stage helps uncover potential legal or practical issues before you’re locked into the purchase.

Finance Management

Ongoing Support Post-Settlement

Finance Management

We coordinate with your lender or mortgage broker to ensure your finance approval aligns with key contract dates. Our team tracks all critical timelines, ensures compliance with special conditions, and keeps you updated throughout the process to avoid unexpected delays or penalties.

Settlement Coordination

Ongoing Support Post-Settlement

We manage all aspects of settlement, including communication with banks, solicitors, and agents, ensuring all documents and payments are completed accurately and on time. Our proactive coordination minimises delays and ensures a smooth transition from contract signing to taking ownership of your new property.

Ongoing Support Post-Settlement

Our service doesn’t end at settlement. We provide continued support by assisting with title registration, reviewing post-settlement adjustments, and advising on future property decisions. Legal Wave remains your trusted partner for any legal queries, ensuring long-term peace of mind beyond your property purchase.

5 Things Every Purchaser Should Know

1. Understand the Section 32 Statement

Before signing a Contract of Sale, carefully review the Section 32 Vendor Statement. This document discloses essential information about the property, such as title details, zoning, rates, easements, and any restrictions. Understanding these details helps you make an informed decision and avoid unexpected issues after purchase. Our lawyers review your Section 32 thoroughly, identify potential risks, and explain the implications in clear terms before you commit.

2. Budget for all Costs

The purchase price is only one part of the overall cost of buying property. Additional expenses such as stamp duty, legal fees, adjustments, and building inspection costs should be factored in early. We help you plan for all financial obligations, so you have complete clarity and can avoid surprises during settlement. Our transparent, fixed-fee pricing ensures you always know what to expect from the start.

3. Building and Pest Inspection Reports

A professional building and pest inspection is vital before committing to purchase. These reports identify structural defects, safety hazards, or hidden issues such as termites that could affect the property’s value or require costly repairs. Legal Wave assists you in reviewing inspection results and negotiating terms that reflect the property’s true condition, ensuring you buy with confidence and full awareness.

4. Easements and Covenants

Easements and covenants can impact how you use or develop your property. Easements may allow shared access or utility rights, while covenants might restrict building works or future alterations. Our team examines the title and Section 32 to identify these encumbrances, explaining their legal effect and helping you make informed decisions before signing the contract.

5. Secure your finance early

Obtaining finance pre-approval before signing a Contract of Sale is essential. It demonstrates to sellers that you’re a serious buyer and ensures you can meet the purchase terms without delay. We review your contract for appropriate finance clauses, manage communication with lenders, and coordinate timelines to ensure a smooth settlement once your loan is approved.

Frequently Asked Questions

Please reach out to us at info@legalwave.com.au if you cannot find an answer to your question.

What is the first step when buying a property in Victoria?

Before signing anything, it’s important to have the Contract of Sale and Section 32 Vendor Statement reviewed by a qualified property lawyer. These documents contain key information about the property — such as title details, zoning, restrictions, and outgoings — and can reveal potential legal or financial risks.

Legal Wave ensures you understand your rights and obligations before committing to purchase.

What is a Section 32 Statement?

A Section 32 Statement, also called a Vendor’s Statement, is a disclosure document provided by the seller that outlines critical information about the property. It includes things like mortgages, easements, covenants, and rates. You should never sign a contract without carefully reviewing this statement, as it forms the basis of what you’re agreeing to buy.

What is the cooling-off period in Victoria?

Buyers of residential property generally have a three-business-day cooling-off period after signing a contract, unless the property was purchased at auction or under certain other conditions.

What is the difference between a conditional and unconditional contract?

A conditional contract includes clauses such as “subject to finance” or “subject to building and pest inspection,” allowing you to withdraw if those conditions aren’t met.

An unconditional contract means you are legally bound to complete the purchase.

Our lawyers review your contract to ensure your interests are protected before you sign.

What additional costs should I budget for when purchasing a property?

In addition to the purchase price, buyers should budget for stamp duty, registration fees, legal/conveyancing costs, building and pest inspections, loan establishment fees, and adjustments for council rates and utilities.

Our team provides an upfront estimate so you know exactly what to expect before settlement.

Can I buy a property if I'm not an Australian citizen or permanent resident?

Yes, but foreign purchasers generally require Foreign Investment Review Board (FIRB) approval before buying residential property. There are also additional surcharges on stamp duty and land tax for foreign buyers.

Legal Wave provides guidance on these requirements and can assist with your FIRB application if needed.

Special Offer: $799 Conveyancing Fee

Special Offer: $799 Conveyancing Fee

Special Offer: $799 Conveyancing Fee

Special Offer: $799 Conveyancing Fee

Special Offer: $799 Conveyancing Fee

Special Offer: $799 Conveyancing Fee