> Consumer advice  > Buying or selling a home  > The purchase process

It can be hard to work out how much to offer. Do you make your best offer upfront, or offer a lower price and be prepared to negotiate? If there are several prospective buyers who want to make offers, the vendor may decide to accept another offer, without giving you the chance to increase yours. If you are not confident negotiating with the selling agent, you may want to get a solicitor, conveyancer or buyer's advocate to negotiate for you. You will be charged a fee if you do.

Form 1 statement
One of the things that should help with your decision making about a property is the Form 1 statement.

A Form 1 statement is a legal requirement, and is meant to give you important information about a property. It includes the property's title particulars, mortgages on the property, covenants, easements, zoning, and outgoings, such as water rates. It does not include any information about encroachments, or the condition of any buildings, whether they comply with building regulations or if measurements on the title are accurate. It is your responsibility to find out about anything that is not covered in the statement. Your solicitor or registered conveyancer can help you here.

The Form 1 is usually prepared by the vendor's agent several weeks prior to the sale or auction. It is usually signed by the vendor and made available to you and other prospective buyers, usually via the agent.

The Form 1 must be factually accurate and complete. If it contains incorrect or insufficient information, you may be able to withdraw from the sale or take legal action.

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