Property Purchase (Buyer) - VIC - Standard Residential Purchase

Use this plan when your client is purchasing residential property in Victoria and you are acting as their solicitor or licensed conveyancer. Open this file before the Section 32 Vendor Statement is reviewed and before contracts are signed. The plan covers the full buyer-side lifecycle from initial intake through to post-settlement Owners Corporation notification.

Jurisdiction: Victoria. Dealings are lodged electronically through PEXA or Sympli with Land Use Victoria. The plan handles Torrens Title and Owners Corporation properties. There are no forks - the plan covers the standard Victorian residential purchase from contract review through to settlement.

The Process at a Glance: The matter begins with client intake and Verification of Identity, followed by a detailed audit of the Section 32 Vendor Statement - if a material defect is found in the statement, the buyer may have a right of rescission before signing. Contracts are signed and a three-business-day cooling-off period applies unless waived by a signed certificate from a legal practitioner or conveyancer. If a Section 27 Deposit Release request is received from the vendor, the buyer's representative assesses it and responds within the statutory period. Land Transfer Duty is assessed via the SRO Digital Duties Form linked directly to the PEXA workspace. Complex duty assessments, including first home buyer concessions and off-the-plan concessions, must be submitted to the SRO at least 30 days before settlement. Finance approval is monitored, mortgage documents are executed, and an Owners Corporation certificate is obtained where applicable. The PEXA workspace is set up with the statement of adjustments, the shortfall is collected, and electronic settlement and registration occur simultaneously.