In Victoria, are you allowed to sell a property yourself?
and save thousands in agents commission
YES, every home owner has the legal right to sell their property privately regardless of which State they live in but there may be some particular points that apply specifically to a certain State.
Following are the key points you need to know when selling a property in Victoria:
* You will need to prepare a vendor’s statement (also known as a Section 32) and contract of sale, by either:
sing a ‘do-it-yourself’ conveyancing kit from the Information Victoria Bookshop. This includes a contract of sale and vendor’s statement.
Engaging a conveyancer or legal practitioner to prepare the documentation for you (recommended).
* As of 1 May 2017 the following new rules apply regarding the selling of a property:
New language guidelines with terms such as the following are not to be used:
“offers over”; “offers above”; or any symbol must not be used in your advertised listings (e.g. $500,000 "+"); and the price must be either a single price or a price range of up to 10 per cent.
Your estimated selling price must be reasonable and take into account the three most recent comparable property sales within your area as compared to the property which you will now be selling.
You must prepare a Statement of Information (SOI) in the approved form and make it available at open for inspections, upon request from prospective buyers, and with any internet advertising.
NOTE: we can provided you with a blank copy of the SOI form which can be filled out and then uploaded within your members account, or you can just click on the following to print a copy.
Statement of Information (SOI)
The following SOI covers a property which is located: within the Metro area or located outside metro area, as per the latest requirement of Consumer Affairs Victoria as of 16 September 2019. SOI - Within Melbourne Metro Area SOI - Outside Melbourne Metro Area
Related Information to These New Changes
For more information of how you need to price your property view:
Understanding Underquoting Click To View Details
