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Section 32 changes – Due diligence checklist

Changes to Victorian laws, specifically section 32 of the Sale of Land Act 1962, come into effect on October 1, 2014.  The section 32 statement (also called the ‘vendor’s statement’) outlines the information a property seller must provide prospective buyers.  The Sale of Land Amendment Act repeals section 32 and re-enacts the majority of its disclosure requirements.

Key changes to section 32 statements is the disclosure of the ‘due diligence’ checklist. From 1 October 2014, sellers, or estate agents acting on their behalf, are required to make a ‘due diligence’ checklist available to prospective buyers at open for inspections.

The purpose of the checklist is to provide purchasers with a tool to make their own enquiries into issues of interest to them when they first start looking at properties.

The ‘due diligence’ checklist includes an assessment of soil and groundwater contamination.

Landserv are experienced at conducting such assessments to consider whether past activities including the use of adjacent land, may have caused contamination at a site.

Contamination assessments can provide potential buyers piece of mind regarding concerns about contamination of a prospective property but also provide sellers with technical basis for declaring the suitability of a site for a specific land use.

For all enquiries on our Contamination Assessment services, please contact Nick Mara at T: 03 9646 0833 or 0488 940 088.