I’m told the agent must provide me with a statement of information, but what is it and what’s included?

A Statement of Information is a document that must include three core points of information. They outlining valuable information about similar sales to buyers, which can help when making an offer. And it’s a document that must be created by a listing agent for any residential property they are selling. Whether or not the property is advertised for sale.

The three points of information are:

Selling price for the property

A single price or a price range of up to 10 per cent. Not less than the listing agents estimated selling price, the vendors asking price and/ or a written offer that has been rejected by the seller already.

The three most comparable properties

Including the address, sale price and date of sale. Or a declaration outlining that the agent has reason to believe there are less than three comparable sales within the prescribed period.

The median house/ unit price

The median house/ unit price for the suburb, as well as the period of time, used to determine the median selling price.

All of this information must be presented in the form approved by Consumer Affairs Victoria. And made available online, at open for inspections and to any prospective buyers within two business days of a request.

You can get more details about what’s included in a statement of information at consumer.vic.gov/au or download the revised Statement of Information forms:

This article is one of many included in the Winter edition of the NextRE Times so download and read the full magazine here

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