Question about Form 1 in SA

I’m looking at buying a property in SA. Do the real estate agents provide Form 1 before making an offer if requested or is it only served after the offer has been accepted?

 

After contract is executed by both parties.

Some agents will have it ready and send it straight through. Some won't and will send it through once it's ready.

Cooling off period of 2 days does not begin until its received.

(Worth noting this is not for auctions obviously)

 

I've always asked for it at the opens, so that I can review everything before signing. I know you get 2 days cooling off but personally I prefer a little extra time to review it. I haven't had any agents not send it through before a contract (if they have it ready).

In most cases, the agent has already had it ready to go, but that's probably due to the properties I've been looking at and they seem to be going at the first open anyway.

 

Thanks for the replies.
Yes, one of the agents has sent it through before making an offer. Others have said that the Form 1 is still not ready but are willing to send it once it becomes available.

I don't understand everything written in Form 1 but it has been very helpful before placing an offer. I could find a lot of info about the property. If the offer is accepted, Form 1 will be reviewed by the conveyancer anyway.

Btw, would it be better to have it reviewed by the conveyancer before making an offer or wait until the offer has been accepted? When I talked to a conveyancer, they advised me that they would check Form 1 during the pre-contract advice.

 

Cooling off period doesnt begin til Form1 is received. Ive had a situation before where an offer was accepted and agent hadnt even begun preparing it, so didnt get it for like a month - cooling off period still begins when getting it.

Obviously in the current market, every house is going at first home open so the above is very unlikely , they're usually preparing them beforehand so that they can be sent as soon as an offer comes.

Cooling off period is generally enough time to review and arrange B&P. But no harm of course in doing sooner. More time is always better, but i guess if its your first deal here you'll want to read it all as opposed to someone whos done lots of deals and knows quickly which sections of it to look for.

 

Yes. Any sections in particular I should be looking for? I've been looking at easements on the land, encumbrances. There are also several sections on Form 1 that mention something like "Contact the Local Government Authority for other details or contact the vendor". I believe this will be taken care by the conveyancer?

 

easements / encumbrances / rights of way / interests in the property
check its the right parcel of the land you're actually buying
any council or development applications or fines outstanding
What amounts are owing to council / water / esl / rent / etc and whether the 2 conveyancers will balance them up at settlement
Any heritage listings, asbestos listings or design code restrictions
Misc disclosures

For majority of properties they look all the same, so just looking for bits that'll affect you. I'm sure your conveyancer / solicitor will assist if you ask.