What is a Form OneVendor Statement? The Form One – Vendor Statement is a necessary document that is separate to the Contract and must be provided to the Purchaser of your property. The “Cooling Off” period commences from the time the Form One – Vendor Statement is served on the Purchaser who then has two clear business days in which to change their mind and completely withdraw from the purchase. Alternatively, the document must be on display at our office for 3 business days prior to any Auction when the “Cooling Off” period does not apply. The Form One – Vendor Statement discloses important information about the property to the Purchaser and is comprised of the following Statutory Government Searches: Property Interest Report from the Lands Title Office Local Government Search from your Council with rates and any Building or Development Approvals Emergency Services Levy, SA Water Rates and Land Tax Certificates Details of Mortgages, Easements, Encumbrances, Party Wall Rights, Transfers within 12 months, Strata or Community Plans, By-Laws, Scheme Descriptions and Caveats are also frequently included within the Form One – Vendor Statement. On occasion there is an additional cost to obtain documents that relate to this type of information. Searches are also important to us as Agents as they provide a better picture of the property, what we are marketing and selling to the public. The connection between the Form One – Vendor Statement and its’ correctness is critical as, should there be an error its’ preparation, a Purchaser can “Cool Off” right up until the day of settlement. At Sandra Berry Real Estate the Form One – Vendor Statement is professionally prepared and outsourced to our preferred specialist provider named Eckermann Forms - Gilles Plains (08) 8366 7977 or Adelaide (08) 8235 3900. You will be contacted by Eckermann Forms to arrange the ordering of the required Searches, preparation of the document and payment directly to them for both. When speaking with Eckermann Forms it is important you give detail that is correct including the same postal address you have provided when listing with Sandra Berry Real Estate. Once complete Eckermann Forms will forward you a copy of your Form One – Vendor Statement so that you can check and sign the document.
Should you require any further information about the Form One – Vendor Statement please contact either Sandra Berry (0437 039 005) or Marlisa Seidel (0438 301 962).
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RLA208561
Shop 1/24 Mount Barker Road, Hahndorf
08 8388 1133
www.sandraberry.com.au