The Section 32 Vendor Statement (“section32 statement”) is provided as a disclosure to Buyers before they sign the contract. There are serious consequences to the Seller for knowingly or recklessly providing false information or failing to supply all required information, including providing you with a potential avenue to validly rescind the contract prior to settlement.
Why is it important to review the Section 32 statement with a legal expert before signing?
The cost of asserting any rights under the contract inside or outside the court system is usually a costly and time-consuming experience. We recommend that you undertake all due diligence, including engaging a legal expert to review the Section 32 statement prior to signing. Addressing any of your concerns proactively prior to proceeding can prevent legal and financial problems.
