Prepared Guides / Blogs

What is a Section 32 Vendor Statement and why it matters for both vendors and purchasers in Victoria

lindel.enticott@prepared.com.au (Lindel Enticott) — Mon, 10 Nov 2025 02:16:06 GMT

Vacant possession vs. subject to tenancy. What you need to know before buying or selling a tenanted property in Victoria.

lindel.enticott@prepared.com.au (Lindel Enticott) — Wed, 22 Oct 2025 03:35:38 GMT

Understanding the statement of adjustments: What Victorian purchasers and vendors need to know before settlement

lindel.enticott@prepared.com.au (Lindel Enticott) — Thu, 16 Oct 2025 04:05:26 GMT

When buying or selling a property in Victoria, one conveyancing process that plays a crucial role in ensuring fairness and accuracy at settlement is the Statement of Adjustments.

Whether you’re a buyer or a seller, understanding how property expenses are apportioned will help you avoid surprises and plan your finances confidently.

What Are Property Adjustments?

Adjustments are the calculations made to fairly divide property-related expenses, such as council rates, water charges, and owner’s corporation fees between the seller and buyer.

These are usually based on the settlement date, ensuring that:

Many outgoings are billed annually or quarterly (often paid in advance), therefore adjustments ensure each party pays only for their share of the ownership period.

Why do adjustments matter?

What is included in the statement of adjustments?

Here are the most common outgoings adjusted at settlement:

What about utilities such as gas, electricity and telephone?

These are personal expenses that do not ‘run with the land’ to the new owner's detriment. These are NOT standard adjustment items.

What role will your solicitor (or conveyancer) perform in settlement adjustments?

For clear guidance through your property transaction whether you're buying or selling our experienced conveyancing team ensures all adjustments are accurate and settlement runs smoothly.

Contact us today to learn more about how we can help.

The information is general in nature and does not constitute legal advice. If you are buying or selling, please contact us to request legal advice.

Cooling-off in Victoria: What this means for purchasers and vendors

lindel.enticott@prepared.com.au (Lindel Enticott) — Thu, 16 Oct 2025 03:53:37 GMT

Due diligence before the Auction day

lindel.enticott@prepared.com.au (Lindel Enticott) — Thu, 16 Oct 2025 00:09:14 GMT

Budgeting for stamp duty in Victoria: What purchasers need to know

lindel.enticott@prepared.com.au (Lindel Enticott) — Wed, 15 Oct 2025 23:25:48 GMT

Glossary of conveyancing terms

lindel.enticott@prepared.com.au (Lindel Enticott) — Wed, 15 Oct 2025 05:33:02 GMT

Prepared work hard to avoid legal jargon. Here are some legal terms frequently used in conveyancing and its meaning.

Verification of Identity (VOI) Explained: Why you need to prove who you are before settlement.

lindel.enticott@prepared.com.au (Lindel Enticott) — Wed, 15 Oct 2025 05:15:03 GMT

Settlement FAQ from vendors. What happens after the contract is signed?

lindel.enticott@prepared.com.au (Lindel Enticott) — Wed, 15 Oct 2025 03:29:45 GMT

Settlement FAQs for purchasers in Victoria: What to expect after you sign a contract.

lindel.enticott@prepared.com.au (Lindel Enticott) — Wed, 15 Oct 2025 02:42:34 GMT