For many years in Victoria, the law has required that a Contract of Sale of Real Estate be accompanied by a signed Vendor Statement, which is known as a Section 32 Certificate. Similar checklists or statements are required in many other areas of the world.

To avoid misunderstandings by vendor, purchaser and or selling agent, the Institute has agreed to introduce a voluntary Vendor Checklist in Tasmania.

This checklist, which will be the responsibility of the vendor to gather the information and fill out will include such things as easements, covenants, or other restrictions over the land, planning schemes affecting the land or zoning, rates, taxes, charges and body corporate particulars.

It will also describe the working condition of all electrical appliances - Has the building got a smoke detector fitted? -- Is the home insulated? -- Simple answers that any purchaser needs to know prior to making a decision.

Over the past few years some of the most prevalent complaints handled by the Institute have been over misunderstandings between the seller, the agent and the purchaser. "Is the home insulated?" or " does the fridge stay?" It is so easy for a simple error here to occur.

To avoid this, the Institute recommends the use of the Vendor Check List which will be available from all Institute members. By using this checklist, you will save any controversy at the settlement of sale.