As a vendor, you have a legal duty towards a prospective purchaser.

Although, caveator emptor (buyer beware) still applies, however, in a sale of a property this principle has been limited by law.

Acumen Conveyancing ensures you meet your obligation towards a purchaser by carefully and diligently preparing your Vendors Statement.

This Statement is a disclosure statement and must be given to a purchaser before that purchaser makes an offer.

There are consequences and penalties if a vendor gives false or not all of the required information and may also give the purchaser the right to withdraw from the contract at any time prior to settlement.

A carefully and properly prepared Vendors Statement is therefore crucial, as it not only assists in a profitable sale but may also:

• minimise the risk of your purchaser withdrawing from the contract thus securing your sale
• avoid additional cost, such as:
  • additional sales commission because the property needs to be resold
  • if you have relied on your sale to purchase another property, you may be in breach of your purchase contract and incur additional costs & penalties