Legal Project Management Plan & Checklist
Purpose of this Guide: This is the practitioner-grade matter plan for managing a residential property purchase in Victoria on behalf of the buyer. Designed for conveyancing solicitors and licensed conveyancers, this comprehensive guide covers the entire Victorian conveyancing lifecycle under the Sale of Land Act 1962 (VIC), Transfer of Land Act 1958 (VIC), Duties Act 2000 (VIC), and the Electronic Conveyancing National Law (VIC). It covers the mandatory pre-signing audit of the Section 32 Vendor Statement (including the right of rescission under s32K), the 3-business-day cooling-off period under s31, Section 27 Deposit Release Statements, Land Transfer Duty assessment via the SRO Duties Online portal and Digital Duties Form (DDF), First Home Buyer duty exemptions ($0-$600,000 full exemption), the Victorian FHOG ($10,000 for new homes), Foreign Resident Capital Gains Withholding (FRCGW at 15%), PEXA electronic settlement via Land Use Victoria, and post-settlement Owners Corporation notifications.
This guide applies to residential property transactions in Victoria, Australia, processed through the electronic conveyancing platform and lodged with Land Use Victoria (LUV). Verify current guidelines on the official .
The Process at a Glance: The matter proceeds from client intake, VOI and CAF, through pre-contract Section 32 Vendor Statement audit and advice, contract signing and 3-day cooling-off management, Section 27 deposit release response if applicable, Land Transfer Duty assessment via the SRO Digital Duties Form linked to PEXA, clearance certificate searches, Transfer of Land (T1) preparation, final inspection by client, PEXA workspace configuration, statement of adjustments, shortfall calculation, and electronic settlement at PEXA, concluding with post-settlement Owners Corporation notification, council and water authority change of ownership, and final client reporting.
* Disclaimer: We're nobody's lawyer, because we aren't lawyers. You are, so you know better than to take legal advice from an app. We also aren't accountants or dog trainers - just digital spirit guides taking zero liability for any of this. This site exists to gather the collective knowledge of practitioners like you. Verify everything and submit your feedback on the Property Purchase (Buyer) - VIC - Standard Residential Purchase matter plan to improve the playbook. THIS IS NOT LEGAL ADVICE, it's a request for input.
This legal matter plan provides a structured workflow for REAL_ESTATE cases, outlining the standard TRANSACTIONAL process. Utilize these tracking templates to manage your legal cases efficiently.
Client onboarded, VOI and CAF completed, Section 32 Vendor Statement thoroughly audited, written advice delivered to client, finance and inspections arranged.
Verify all prerequisite documentation has been obtained, cross-reference against the statutory requirements for this matter type, and confirm compliance with practice direction protocols.
Prepare the relevant forms and supporting materials required under the applicable legislation, ensuring all mandatory fields are completed and all attachments are properly certified.
Draft and dispatch formal correspondence addressing the procedural requirements at this stage, including any required notices, requests for information, or proposals for resolution.
s32K Sale of Land Act 1962 (Vic) - a defective Section 32 may give the purchaser the right to rescind the contract at any time before settlement. The Section 32 must be provided BEFORE the purchaser signs the contract.
Owner-builder warranty insurance threshold: $16,000 cost of work, completed less than 7 years ago.
Contract signed and exchanged, 3-business-day cooling-off period managed, deposit paid, Section 27 response served if applicable.
Coordinate the collection and review of all financial documentation required for disclosure, including statements, valuations, and supporting schedules as mandated by the rules.
Land Transfer Duty assessed via SRO DDF, FHBAS concession applied if eligible, FRCGW clearance verified, all searches ordered, Transfer of Land prepared in PEXA.
Verify all prerequisite documentation has been obtained, cross-reference against the statutory requirements for this matter type, and confirm compliance with practice direction protocols.
s31 Sale of Land Act 1962 (Vic) - 3-business-day cooling-off from the day the purchaser signs (not when the vendor signs). Rescission during cooling-off forfeits a statutory penalty equal to the deposit actually paid (not the full purchase price). The cooling-off right does not apply to auction day sales, commercial or industrial property, or where the purchaser is an agent or company.
Conduct a thorough review of all filed materials to ensure compliance with court requirements, verify service obligations have been met, and prepare for the next procedural milestone.
Assess the strategic considerations for interim applications, prepare supporting evidence, and draft the necessary documentation for urgent or time-sensitive relief sought.
ss34-35 Sale of Land Act 1962 (Vic) - property risk remains with the vendor until the purchaser takes possession or settlement, whichever occurs first. General Condition 7 of the LIV Contract requires the vendor to maintain the property in the same condition.
VIC Land Transfer Duty rates under the Duties Act 2000 (Vic) (2024-25 - confirm via SRO calculator):
First home buyer concessions: full exemption up to $600,000; concessional rate from $600,001 to $750,000.
Off-the-plan concession: contracts between 21 October 2024 and 20 October 2026 - construction costs deducted from dutiable value.
Foreign Purchaser Additional Duty: 8% on all residential property.
Prepare the relevant forms and supporting materials required under the applicable legislation, ensuring all mandatory fields are completed and all attachments are properly certified.
Draft and dispatch formal correspondence addressing the procedural requirements at this stage, including any required notices, requests for information, or proposals for resolution.
Under VIC property law reforms effective 1 January 2024, land tax adjustments between buyer and seller at settlement are prohibited where the property sale price is below the relevant statutory threshold. The prohibition is implemented under the Land Tax Act 2005 (Vic) as amended. Confirm the current threshold with the SRO before including any land tax adjustment in the Statement of Adjustments.