The Statement of Information is a pricing fact sheet that you must prepare for every residential property you are engaged to sell in Victoria, regardless of whether you advertise the property for sale.
The Statement of Information must include:
- an indicative selling price for the property
- details of the three most comparable property sales to the property that is for sale
- the median house or unit price for the suburb – this can be for a period of between 3 to 12 consecutive months, and must not be more than 6 months old.
You can use any source to determine the median price. You must state the period and source of the median price in the Statement of Information.
The Statement of Information must be:
- displayed at all open for inspections
- included with any internet advertising
- given to prospective buyers within two business days of their request.
Recent sales prices submitted in victoria cannot be modified back to undisclosed once submitted to us with a price, due to the under quoting legislation and the requirement to disclose any sales price you are aware of in the local area on the report.
Due to this the report also allows you to enter a recent sales price you are aware of, against any property that currently displays as undisclosed.
Image1- Entering a known sales price against an undisclosed sale record.
For more information, please refer to consumer.vic.gov.au/underquoting