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Conveyancing Victoria: the complete guide for buyers and sellers

Conveyancing is the legal process of transferring ownership of property from one person to another. In Victoria it has a distinctive shape: the seller must give the buyer a signed Section 32 vendor statement before the contract is signed, a private sale carries a three clear business day cooling-off period, and the biggest cost is land transfer duty (Victoria's name for stamp duty). This hub explains how it all fits together and links to eight in-depth Victorian guides.

What conveyancing is in Victoria

Conveyancing covers everything between agreeing to buy or sell a property and the transfer of ownership being registered at Land Services Victoria. For a buyer that means reviewing the Section 32 vendor statement and the contract, arranging finance and inspections, and completing settlement. For a seller it means preparing the Section 32 and the contract before the property is marketed, and discharging any mortgage at settlement.

The document at the centre of it is the Section 32 vendor statement, required by the Sale of Land Act 1962 (Vic). Because the seller must hand it over before the buyer signs, the most important facts about a property (its title, planning, owners corporation and building history) are disclosed while the buyer can still walk away. This front-loaded disclosure is the main way Victoria differs from New South Wales.

Who does conveyancing in Victoria

Two kinds of professional can act on a Victorian transaction:

Either way, engaging your professional early matters more in Victoria than elsewhere, because the Section 32 review (for a buyer) and its preparation (for a seller) is the highest-value work and it happens up front. If you are weighing the two, see conveyancer versus solicitor.

The stages, from Section 32 to settlement

  1. Section 32 and contract, before signing. The seller prepares the vendor statement and contract; the buyer's conveyancer reviews both. On a private sale you can still negotiate or walk away; at auction this review must be done before you bid.
  2. Signing and deposit. Signing the contract is the point of commitment in Victoria (there is no separate exchange step). The buyer pays the deposit, commonly up to 10%, held in trust.
  3. Cooling-off. On a private sale the buyer has 3 clear business days to withdraw, with a penalty of $100 or 0.2% of the purchase price, whichever is greater. There is no cooling-off at auction.
  4. Between contract and settlement. The conveyancer assesses land transfer duty, runs final searches, coordinates finance and rate adjustments, and books settlement.
  5. Settlement. Most settlements complete electronically through PEXA: funds transfer, any mortgage is discharged, duty is paid, and the title transfers. The agent releases the keys.

The full walkthrough is in the Victorian conveyancing process guide.

What conveyancing costs in Victoria: at a glance

A Victorian conveyancer or lawyer typically charges about $880 to $2,200 for a standard residential matter (a market estimate, GST inclusive). That professional fee is usually the smallest part of what a buyer pays: land transfer duty, set by the State Revenue Office, is by far the largest cost. The duty figures below are computed from the current official general rates.

Purchase price Land transfer duty (standard rate)
$600,000 $31,070
$750,000 $40,070
$1,000,000 $55,000

Two concessions cut duty sharply. Any owner-occupier pays a lower principal place of residence rate on a property up to $550,000 (at $500,000 that is $21,970 rather than the general $25,070), and an eligible first home buyer pays no duty at all up to $600,000 ($0 at $600,000). The full breakdown, including the professional fee, disbursements and registry fee, is in the conveyancing cost Victoria guide, and you can estimate your own duty with the stamp duty Victoria calculator.

All eight Victorian guides

The Victorian cluster is eight in-depth guides plus this hub. Start with whichever matches where you are:

Calculators and state comparisons

To compare Victoria against other states, or to estimate your own numbers:

Buying or selling in New South Wales instead? See the NSW conveyancing guide.

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Frequently asked questions

Conveyancing Explained provides general information about property transactions in Australia. It is not legal advice and does not create a client relationship. For advice on your situation, engage a licensed conveyancer, settlement agent, or property solicitor in your state or territory.