The As Is Home Sale Contract is specifically designed for Australian property transactions where the seller wishes to transfer the property in its current condition with limited warranties. This document is commonly used for properties that may require renovation, have known defects, or where the seller wants to minimize post-sale liability. It includes mandatory disclosures required by Australian law, explicit acknowledgments from the buyer regarding the property's condition, and clear limitations on seller warranties while preserving statutory protections that cannot be waived. The contract is particularly relevant in situations involving distressed sales, estate sales, or when dealing with properties that have obvious repair needs. It must comply with state-specific real estate legislation and the Australian Consumer Law while balancing the seller's desire to limit liability with the buyer's right to certain basic protections.
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1. Parties: Identification of the seller and buyer with full legal names and addresses
2. Background: Context of the sale and acknowledgment that the property is being sold 'as is'
3. Definitions: Key terms used throughout the contract including 'as is' condition, settlement date, deposit, and other relevant terminology
4. Property Description: Detailed description of the property including lot number, title reference, address, and included fixtures/fittings
5. Purchase Price: Agreed purchase price, deposit amount, and payment terms
6. As Is Condition: Explicit statement that the property is sold in its current condition with buyer acknowledgment of inspection rights
7. Seller's Limited Warranties: Clear statement of what warranties are expressly excluded and which statutory warranties cannot be excluded
8. Buyer's Acknowledgments: Buyer's confirmation of property inspection and acceptance of current condition
9. Settlement: Settlement date, process, and requirements for both parties
10. Title and Transfer: Requirements for clear title transfer and registration procedures
11. Risk and Insurance: Transfer of risk and insurance responsibilities
12. Default and Termination: Consequences of default by either party and termination rights
13. GST Provisions: GST treatment of the sale and required declarations
14. General Provisions: Standard contract terms including notices, governing law, and entire agreement
1. Special Conditions: Used when specific circumstances require additional terms, such as subject to finance or building inspection
2. Foreign Investment Approval: Required when the buyer is a foreign person requiring FIRB approval
3. Existing Tenancies: Include when the property is sold with existing tenants and lease agreements
4. Swimming Pool Compliance: Required when the property includes a swimming pool
5. Property Inclusions/Exclusions: Detailed list when specific items need to be explicitly included or excluded from the sale
6. Building Certificates: When dealing with recent construction or modifications requiring certification
7. Environmental Matters: Required when the property has known environmental issues or contamination
8. Water Rights: Include for rural properties with water licenses or allocations
9. Development Approvals: Required when the property has pending or approved development applications
1. Schedule 1 - Property Details: Comprehensive property description including title details, encumbrances, and easements
2. Schedule 2 - Included Chattels: Itemized list of movable items included in the sale
3. Schedule 3 - Excluded Items: List of items specifically excluded from the sale
4. Schedule 4 - Known Defects: Disclosure of known defects or issues with the property
5. Schedule 5 - Special Conditions: Detailed special conditions if applicable
6. Appendix A - Property Title Search: Current title search showing encumbrances and interests
7. Appendix B - Property Plan: Survey plan or registered plan of the property
8. Appendix C - Disclosure Documents: Required statutory disclosures and certificates
9. Appendix D - Inspection Reports: Any existing building or pest inspection reports provided by the seller
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