If you are selling real estate for the first time, you’ll have plenty of questions about Form 1s and why they are so important.
The Eckermann Forms team has put together this information based on legislation and regulations relating to real estate in South Australia, so you can be properly informed and understand the value of choosing us to be your trusted partner in Form 1 preparation.
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:
- council rates
- cooling off rights
- community or strata details applicable
- and much more
This information is collated from the 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 use Eckermann Forms?
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 Forms, formerly Eckermann Vendor Statements or EVS, to provide a dedicated team of Form 1 specialists.
Entrusting Eckermann Forms 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 Eckermann Forms 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.
- Eckermann Forms will order, follow up and review all searches required to complete a Form 1.
- Eckermann Forms 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.
- Eckermann Forms 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 Forms 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 Conveyancers, South Australia’s largest and most experienced conveyancing firm, and Eckermann 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 Eckermann Forms.
To discuss any aspect of Form 1s or find out more about the protocol and forms please contact our experienced team at Eckermann Forms.