Purchase of land - questions for the purchaser

Responses required without delay

Circle yes or no as applicable.
Provide the additional information as indicated.
If you do not know the answer or are unable to provide the additional information please
insert the words ‘not known’.
Please sign where indicated at the foot of the final page and forward this completed list and
all necessary information to the sender.

Question Answer
Title

1. Who is to be registered on the title(s) to the Insert details:

land?
……………………………………………………...
If more than one person how do you want to
be recorded as owners? ABN:………………………share…………………

 Joint proprietors – on death property goes ……………………………………………………….

automatically to other joint proprietor(s).
ABN:………………………share…………………
 Tenants in common – on death share in
If tenants in common please advise the share to be
property forms part of deceased’s estate.
held by each person. Consider issues such as:
If they are not named in the contract we will • amount paid in cash by each person
need to do a nomination. Nomination must • liability for repayment of any debt / expenses
occur without delay to avoid double duty. • contributions by third parties ie parents
• entitlement to equity
Proof of identity is required in accordance • amount to be paid on sale
with the Model Participation Rules issued by
ARNECC for anyone who is to be registered
on title.

[Please also sign and return the attached

client authorisation form if the sale will be
conducted electronically.]

2. Is any person to be registered on the title(s) in Yes/No

their capacity as an executor, trustee,
guardian or administrator? If yes – provide details

3. Is any person to be registered on the title(s) Yes/No

related and/or associated with the vendor,
including any subsidiary or holding If yes – provide details.
company?

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 About you

4. Is anyone to be named in the contract Yes/No

and/or to be registered on the title(s) a
foreign person / resident?
If yes, you may be required to obtain prior approval
A foreign person includes an individual not
from a state and/or federal government to buy the
ordinarily resident in Australia and a foreign
land and when you sell the land certain withholding
company for the purposes of the Foreign
obligations apply.
Acquisitions and Takeovers Act 1975 (Cwlth)
A foreign resident means a person who is not
a resident of Australia for the purposes of the
Income Tax Assessment Act 1936 (Cwlth)

5. Provide the date of birth of each person to Name:

be registered on the title(s). ………/…………./…………DOB
Name:
We are required by law to provide this ………/…………./…………DOB
information to various government agencies.

6. For a corporate purchaser, who is authorised Insert name(s):

to give instructions, sign the
contract/vendor's statement/transfer?

7. Are you the selling agent or the agent’s Yes/No

employee or relative?
If yes, refer to section 55 and 55A of the Estate Agents
Act 1980 (Vic) for the process to be followed.

Insurance, tax, duty and wills

8. Have you arranged insurance for the land? Yes/No

Please discuss any insurance requirements with your

insurer / broker. Some purchasers take out their own
insurance prior to settlement to ensure adequate
insurance is in place.

You should be aware that the vendor may not have

adequate insurance cover or any insurance at all.

9. Will you be applying for:

• first home owners grant Yes/No

• reduction in duty payable for any Yes/No

reason. For example, pension
concession, transfer to spouse.

10. Have you considered the tax consequences, Yes/No

such as GST, GAIC, land tax, CGT, and stamp
duty of your purchase?
If no, do you require us to advise you on any Yes/No
tax issues? *We recommend you discuss any issues with your
accountant.
11. Have you considered the effect the Yes/No

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 purchase will have on your will?

Finance
12. Have you paid the full deposit? Yes/No
Please inform us if you paid by bank
guarantee / deposit bond.
If yes, was the deposit more than 10 per cent Yes/No
of the price?
13. Are you purchasing subject to finance being Yes/No
approved?
If yes:
• you need to keep us informed of your
progress every two days and must notify
us before the approval date about
whether finance has been approved to
enable us to notify the vendor to end the
contract.
• the vendor may ask for evidence of your
inability to obtain finance should you wish
to withdraw from the contract.
14. Are you obtaining a loan to pay for some of Yes/No
the purchase price?
For any funds you are providing at settlement If yes, provide the name of your finance broker /
we recommend you authorise your lender to lender.
draw on your account(s) to deduct funds for
settlement.
15. Have you notified your finance broker / Yes/No
lender of your purchase?
If yes, have you provided them with a copy of Yes/No
the contract of sale and section 32
statement?
16. Is any person who is not to be registered on Yes/No
the title(s) providing funds to assist with your If yes, provide details.
purchase of the land?
About the land

17. What is the location on the plan of subdivision See attached copy plan of subdivision. Highlight each
of the land? part including the land, apartment/unit, any car
space(s), storage lot(s) or other areas included in the
Note: car spaces may be subject to a sale.
congestion levy.

18. What is your intended use of the land? Insert details:

For example a dwelling or shop.
Is this the same as the current use? Yes/No

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19. Do you intend on:
• leasing the property
Yes/No
• residing in the property. Yes/No

Note: if you are buying subject to a lease this

lease may continue after settlement.
Do you require our advice about any lease Yes/No
matters?
Yes/No
If you reside at the property is this your
principal place of residence? If yes, land tax may be payable from settlement for
the principal place of residence you currently reside
in if you are not selling that property.
20. Do you believe any of the information in the Yes/No
section 32 statement is incorrect?
If yes, provide details:
21. Are boundary fences in reasonable Yes/No
condition? If no - once the contract is signed you will be
Note – if you are concerned about the responsible at your cost for any necessary fencing
boundary locations we recommend you works.
obtain a land survey.
22. Is there a pool or spa at the property? Yes/No

If yes – are barriers in place? Yes/No

23. Do you have any reason to believe that the Yes/No

vendor has done any renovation works in the
last seven years?
For example, renovated a bathroom.

24. Has the vendor entered into any agreement Yes/No

with the local council to fund any works
required to rectify any flammable cladding
on any building(s) on the land?
See part 8B in the Local Government Act
1989 (Vic)
Settlement
25. Where would you like correspondence sent The property address - or insert other address:
after settlement?

Any questions
26. Please attach a list of any questions you have
about your purchase.

Information available from Consumer Affairs

Victoria (CAV)
27. You can find information published by CAV
about buying real estate, owners
corporations, renting and retirement villages
here.

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……………………………………………………
Signed by or on behalf of the purchaser(s)

*Plan of subdivision showing the lots to be attached

*Client authorisation form to be completed and attached

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