Form 1 Mistakes in South Australia – How Sellers Lose Control

If you are signing off on a Form 1 in SA without a proper review, you may be giving the buyer a late escape route from your contract.

The Form 1 is a statutory disclosure statement. If it is incorrect, incomplete or served improperly, the buyer may rescind the contract much later than you expect. This can happen even after you have made commitments based on the sale proceeding, such as buying another property or locking in finance.

We often see:

• outdated searches used to prepare the Form 1

• encumbrances, easements or zoning not properly disclosed

• unclear records of when and how the Form 1 was served on the buyer

The consequences are serious:

• buyers terminating close to settlement, leaving you with no sale and lost time

• disputes about what was disclosed, leading to complaints and potential regulatory attention

• settlement delays that affect your onward purchase, refinance or other commitments

We obtain current searches, prepare or carefully review the Form 1, and advise you on the correct method and timing of service. We also check that the contract, Form 1 and advertising are consistent so you are not exposed by mismatched information.

If your agent or another party has asked you to approve a Form 1, please send it to us before it is served so we can review it and reduce the risk of a late termination.

Disclaimer: This is general information only and does not take into account your specific circumstances. Every property and transaction is different. We can only confirm how this applies to you after you contact us and we review your matter on a case‑by‑case basis.