Hi Calvin_thirty4,

I found this really clear description  of the " Section #2" Vendor Statement  at the Realchoicemortgages website. It's quite thorough. Hope this is useful to you.

Regards,

Francis

Section 32 Vendor Statement

What Is the Section 32 Vendors Statement?

The Vendor's Statement is the means by which the vendor provides a prospective purchaser with information about the property being sold.

Its name comes from Section 32 of the Sale of Land Act, which sets out what information must be given, and also sets out specific warnings that must be made clear to the purchaser.

For vendors, it is important that the Section 32 is correct and complete, as a sale can be terminated if it has not been properly prepared. Further, a vendor can be fined in some circumstances if mandatory information is not included.

For purchasers, it is necessary to check the Section 32 thoroughly. Problems can arise, not necessarily because of what the Section 32 contains, but because of what is does NOT contain. This is where legal advice prior to signing an offer can be of great assistance.

In relation to Hobart… either you can seek reasonable yields 6%-7% further out of town in areas such as Glenorchy and Claremont. West Moonah is offering a more balanced return with yield and some growth; it seems to be booming. New Town is great as well as it is close to the CBD and is quickly becoming a "lifestyle" neighbourhood though, prices here have gone up considerably in recent times.

All in all, I believe that the RIGHT PROPERTIES in Hobart are  offering great potential for strong rental returns and future growth.