Does Realestate Lens review the Section 32 Vendor Statement?

Yes. We treat the Section 32 as the most important Victorian document alongside the contract itself. We check it for mandatory disclosures (title, services, planning, owners corporation, notices, GAIC), extract the key facts, and flag where disclosures look incomplete.

Will the report tell me if I can use cooling-off?

Yes. We confirm whether the contract was signed before or after auction, whether the 3-clear-business-day window is still open, and whether any of the cooling-off exceptions in section 31 apply (corporation buyer, adjoining owner, certificated waiver).

Can the AI flag GAIC liability for outer-Melbourne growth-area properties?

Yes. If the Section 32 or planning certificate shows the property is in a Growth Area Infrastructure Contribution area, we surface the liability amount where stated and flag it as a major settlement-day cost to discuss with your conveyancer.

Does the analysis cover owners corporation issues?

Yes. We extract OC levies, the maintenance plan, recent special levies, insurance, and any litigation. We flag funds that look underfunded relative to the building’s age, and any open issues that should be raised before settlement.

Does Victoria have an off-the-plan sunset clause regime?

Yes. The Sale of Land Act 1962 has buyer-protection provisions for off-the-plan sunset rescissions. The vendor must obtain buyer consent or a Supreme Court order to rescind under a sunset clause. Realestate Lens checks the sunset clause and whether the protections are reflected in the contract.

Does Realestate Lens review the Section 32 Vendor Statement?

Yes. We treat the Section 32 as the most important Victorian document alongside the contract itself. We check it for mandatory disclosures (title, services, planning, owners corporation, notices, GAIC), extract the key facts, and flag where disclosures look incomplete.

Will the report tell me if I can use cooling-off?

Yes. We confirm whether the contract was signed before or after auction, whether the 3-clear-business-day window is still open, and whether any of the cooling-off exceptions in section 31 apply (corporation buyer, adjoining owner, certificated waiver).

Can the AI flag GAIC liability for outer-Melbourne growth-area properties?

Yes. If the Section 32 or planning certificate shows the property is in a Growth Area Infrastructure Contribution area, we surface the liability amount where stated and flag it as a major settlement-day cost to discuss with your conveyancer.

Does the analysis cover owners corporation issues?

Yes. We extract OC levies, the maintenance plan, recent special levies, insurance, and any litigation. We flag funds that look underfunded relative to the building’s age, and any open issues that should be raised before settlement.

Does Victoria have an off-the-plan sunset clause regime?

Yes. The Sale of Land Act 1962 has buyer-protection provisions for off-the-plan sunset rescissions. The vendor must obtain buyer consent or a Supreme Court order to rescind under a sunset clause. Realestate Lens checks the sunset clause and whether the protections are reflected in the contract.

VIC contract review

AI Contract Review for Victoria Buyers

In Victoria, every property purchase involves two key documents — the Contract of Sale of Real Estate and the Section 32 Vendor Statement (also called a Vendor's Statement). The Section 32 must be given to the buyer before the contract is signed and contains the vendor's mandatory disclosures. Realestate Lens reviews both documents together, surfacing the issues that vary across each Victorian property — particularly owners corporation, planning, and growth-area infrastructure liabilities.

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Documents covered

What we read in VIC

Realestate Lens reviews every document attached to a typical Victoria property contract.

Contract of Sale of Real Estate

Standard Victorian form with general and special conditions.

Section 32 Vendor Statement

Mandatory vendor disclosures including financial, planning, services, and notices.

Title and plan of subdivision

Easements, covenants, restrictions, encumbrances on the title.

Owners corporation certificate

Levies, financial statements, insurance, current rules and recent resolutions.

Planning certificates and overlays

Zoning, heritage, environmental, bushfire, and growth area infrastructure overlays.

Notices and orders

Building, council, water authority, EPA, and other statutory notices.

Common risks

What we flag in VIC contracts

Issues we routinely surface for buyers in Victoria.

Section 32 disclosure gaps

We check the Section 32 against the statutory checklist. Missing items (services, planning, owners corporation, notices, GAIC) can give the buyer rescission rights up to settlement.

Owners corporation health

We extract levies, special levies, insurance, and the maintenance fund balance. We flag where the owners corporation is unfunded, has open litigation, or has recently raised a special levy.

Planning overlays

Bushfire Management Overlay, Heritage Overlay, Significant Landscape Overlay, Environmental Significance Overlay and Growth Area Infrastructure Contribution areas all materially affect what you can do with the property and how much the property will cost over time.

Special conditions and finance/inspection clauses

We score every special condition. Common red flags include short finance condition periods, restrictive deposit terms, unusual settlement adjustments and developer-favourable off-the-plan clauses.

Off-the-plan sunset rescission

Victoria has its own buyer-protection regime for sunset rescissions on off-the-plan contracts. We check the sunset date, who can rescind, and whether the buyer protections have been observed.

GAIC liability

If the property is in a Growth Area Infrastructure Contribution zone, the GAIC charge can run to tens of thousands of dollars and may trigger on settlement. We flag this clearly.

Cooling-off in VIC

3 clear business days from when the buyer signs the contract (Sale of Land Act 1962 s31). 0.2% of purchase price OR $100, whichever is greater, forfeited if exercised. Cooling-off does NOT apply to: auction purchases, sales within 3 clear business days before or after a public auction, sales to a corporation or pre-existing owner of an adjoining property, or where the buyer has independent legal advice and waives.

Relevant legislation

Sale of Land Act 1962 (VIC) — particularly section 32, Estate Agents Act 1980, Owners Corporations Act 2006, Planning and Environment Act 1987, Environment Protection Act 2017.

Example issues found in VIC contracts

Real-world examples the AI risk framework looks for. Every one of these has been flagged in at least one buyer’s report.

Section 32 missing the owners corporation certificate where the property is on a strata title
Bushfire Management Overlay applies but isn’t mentioned in the Section 32 planning section
GAIC liability of $54,000 disclosed only in a footnote of the Section 32
Owners corporation has $0 in the maintenance fund and a pending claim against the developer
Special condition shortening finance to 7 calendar days from signing
Off-the-plan sunset date 4 years from contract date with developer-favourable rescission rights
Heritage overlay restricting external alterations not flagged in the contract front page
Settlement adjustment clause backdating rates and water to a date earlier than the contract

VIC contract review FAQ

Reviewing a contract in another state?

Realestate Lens supports every Australian state and territory.

NSW

New South Wales

QLD

Queensland

Western Australia

South Australia

TAS

Tasmania

ACT

Australian Capital Territory

Northern Territory

Not legal advice

Realestate Lens is a first-pass risk report designed to help you ask better questions of a Victoria solicitor or conveyancer. Always have your contract reviewed by a qualified practitioner before exchange. See how we handle your contract and AI vs solicitor — what each is for.

Review your VIC contract before you sign

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