As Is Real Estate Contract Template for Australia

An As Is Real Estate Contract is a property sale agreement where you purchase property in its existing condition without any warranties or guarantees from the seller regarding its state, defects, or fitness for purpose. Under Australian property law, this contract type provides important protections for both vendors and purchasers while ensuring compliance with state-specific property transfer requirements.

When do you need this document?

You need an As Is Real Estate Contract when selling or buying property where the vendor wants to limit liability for the property's condition. This commonly occurs with renovation properties, deceased estates, distressed sales, investment properties being sold by landlords, or commercial properties where extensive due diligence is expected. The contract is also used when properties have known issues that would be costly to remedy, or when vendors lack detailed knowledge about the property's condition and prefer to transfer responsibility to the purchaser.

Key legal considerations

The contract must clearly define what "as is" means and ensure the purchaser genuinely understands they're accepting all risks regarding the property's condition. While vendors can limit liability, they cannot exclude obligations under Australian Consumer Law for misleading conduct or failure to disclose material facts. The agreement must include mandatory disclosures required by your state, such as building and pest inspection reports, planning restrictions, or environmental hazards. Deposit arrangements, settlement terms, and cooling-off periods must comply with local legislation. The contract should specify which fixtures and fittings are included, outline the settlement process, and address what happens if defects are discovered that weren't disclosed.

Legal requirements in Australia

Australian states have specific requirements for property contracts under legislation like the Property Law Act 1958 and Conveyancing Act 1919. Your contract must be in writing and signed by both parties to be legally binding. Mandatory vendor disclosures vary by state but typically include planning certificates, building approvals, pest inspections, and any known defects. The Competition and Consumer Act 2010 limits how extensively vendors can disclaim liability, particularly regarding misleading conduct. Some states require statutory warranties that cannot be excluded even in "as is" sales. Registration requirements under the Real Property Act 1900 must be met for valid title transfer. Estate agents involved must comply with licensing requirements under the Estate Agents Act 1980, and conveyancers or solicitors should review the contract to ensure state-specific compliance and adequate protection for both parties.