The As Is Residential Contract For Sale And Purchase is specifically designed for Australian property transactions where the seller wishes to transfer the property in its existing condition without providing warranties about its physical state. This document is commonly used for properties that may require renovation, have known defects, or where the seller wants to limit their liability regarding the property's condition. It contains mandatory disclosures required by Australian law, provisions for title transfer, settlement procedures, and clear acknowledgments from the buyer accepting the property's current state. The contract is particularly relevant in situations involving estate sales, foreclosures, or when sellers have limited knowledge of the property's condition. It balances the seller's desire to limit warranties with the buyer's right to make an informed purchase decision under Australian consumer protection laws.

1. Parties: Identification of the seller and buyer, including full legal names, addresses, and contact details

2. Background: Brief context of the sale, including property identification and acknowledgment of 'as is' nature of the sale

3. Definitions: Key terms used throughout the contract, including property-specific terminology and legal definitions

4. Property Description: Detailed description of the property, including lot number, plan, title reference, and street address

5. Purchase Price: Agreed purchase price, deposit amount, and payment terms

6. Settlement: Settlement date, time, and place, including requirements for completion

7. Title and Transfer: Requirements for transfer of title and associated documentation

8. As Is Condition: Explicit statement of property being sold in current condition with buyer's acknowledgments

9. Seller's Warranties: Limited warranties given the 'as is' nature, primarily relating to title and ownership

10. Buyer's Acknowledgments: Buyer's confirmation of property inspection and acceptance of current condition

11. Default: Consequences and remedies in case of default by either party

12. Notices: Requirements for giving notices under the contract

13. General Provisions: Standard contract terms including governing law, entire agreement, and execution requirements