Help with a Section 32 point please

[Chandy]

Received copy of section 32 for a property we are putting an offer in on which states:

"The amount of any rates, taxes, charges or other similar outgoings affecting the land including any unpaid interest payable on any part of those rates, taxes, charges or outgoings including any rates, taxed, charges or outgoings for which the purchaser may become liable in consequence of the sale in relation to the property does not exceed $2,000.00 pa, excluding water usage charges and State Land Tax which depend upon volume of usage and status of purchaser respectively."


Does this mean if the vendor is behind in their bills such as rates, water etc and have incurred additional interest, if we buy the property we inherit those bills? I'm all confused

 

[Spades]

Vendor is responsible for all outgoings up to settlement.Send the sec 32 to your conveyancer/solicitor if you have any concerns.

 

[JacM]

Hi there

The bills get adjusted at settlement anyway (by your solicitor or conveyancer). If the vendor owes more in mortgages and bills than the property has been sold to you for, then the solicitor will hit the brakes on it.