What is the primary purpose of a vendor disclosure statement in a residential property sale?
Correct Answer
A) To give buyers prescribed information about the property's title, planning and legal status
A vendor disclosure statement, such as the Section 32 statement in Victoria or the seller disclosure statement (Form 2) in Queensland from 1 August 2025, gives buyers prescribed information before they sign. It mainly covers title, encumbrances, planning, outgoings and services rather than physical condition, and it does not guarantee the property is defect-free.
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