What is a Form 1 and why do I need one?

A Form 1 is a statutory disclosure statement that the Vendor (seller of land) is required to give to the purchaser. The Form 1 contains information about the land including but not limited to: cooling off rights, encumbrances, easements, and community or strata details applicable and much more. This information is collated from State Government, local council and the Vendor. The Form 1 must be complete and accurate when given to the purchaser. As a Vendor, it is an offence to fail to give the purchaser a complete and accurate Form 1, subject to some limited exceptions.

Why Eckermann Vendor Statements?

Historically, the preparation and certification of Form 1s has been undertaken by Real Estate Agents. However, through discussions with many Real Estate Agents, we understood that the preparation and certification of Form 1s created a number of concerns for both Agents and Vendors. In 2010 the Eckermann Group established Eckermann Vendor Statements (EVS) to provide a dedicated team of Form 1 specialists.

Entrusting Eckermann Vendor Statements (EVS) with your Form 1 preparation and certification requirements will alleviate these concerns and provide a number of substantial benefits:

  • Form 1s are becoming increasingly technical, with numerous legislation changes taking place. This, combined with purchasers and purchasers’ representatives increasing their scrutiny of Form 1s, in case of a defective Form 1 being served, means the process can also be time consuming. Our EVS team is experienced and up to date with all legislation and industry changes and is able to provide accurate and timely information to both Agents and Vendors.
  • EVS will order, follow up and review all searches required to complete a Form 1.
  • EVS team members are experienced Form 1 professionals; it is their full time job to ensure that all Form 1s are delivered to you accurately and on time reducing the risk borne by you, the Vendor, through inexperienced Real Estate office employees preparing Form 1s.
  • EVS has a large specialised Form 1 team that is not reliant on a single person or a few key people, ensuring that quality service can be delivered to you all year round, without interruption or delay.

Our Form 1 process is streamlined and highly efficient. We have created clear and easy to use Form 1 Request forms and Vendor Questionnaires, which provide all of the vital information required to begin the Form 1 preparation.

Eckermann Vendor Statements certifies the Form 1 as a ‘Person authorised to act on behalf of Vendor’s agent’. This is allowed through the application of section 37 of the Land and Business (Sale and Conveyancing) Act 1994.

With the support of Eckermann Steinert Conveyancers, South Australia’s largest and most experienced Conveyancing firm, and Eckermann Commercial Lawyers leading Adelaide property law specialists, you can be sure we have all of the latest information and expertise at our fingertips with regards to your Form 1 requirements.

We look forward to preparing and certifying Form 1s for you as the need arises and putting your mind at ease that one of the most important documents in the process of selling your home is entrusted to the professional team at EVS.

To discuss any aspect of Form 1s or find out more about the protocol and forms please contact our experienced team at Eckermann Vendor Statements.

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