The Home For Sale By Owner Contract is designed for Australian property transactions where owners choose to sell their property directly to buyers without full real estate agent services. This approach has become increasingly popular as it can reduce selling costs while maintaining legal compliance. The document incorporates all mandatory requirements under Australian property law, including state-specific provisions, consumer protections, and necessary disclosures. It covers essential elements such as property description, purchase price, settlement terms, parties' obligations, and risk allocation. This contract type is particularly relevant in the current digital age where many property owners are comfortable managing their own sales process while ensuring legal protection for all parties involved. It includes provisions for both standard and special conditions, allowing customization for specific transaction requirements while maintaining compliance with relevant legislation and regulations.
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1. Parties: Identification of the vendor and purchaser with full legal names and addresses
2. Background: Context of the sale and brief property description
3. Definitions: Key terms used throughout the contract including Property, Purchase Price, Settlement Date, etc.
4. Property Details: Complete legal description of the property including lot number, title reference, and address
5. Purchase Price: Agreed purchase price and payment terms including deposit details
6. Settlement: Settlement date, time, and process requirements
7. Title and Transfer: Warranties regarding title and transfer requirements
8. Vendor's Obligations: Pre-settlement obligations including maintaining the property and providing access
9. Purchaser's Obligations: Requirements for payment, inspections, and other purchaser responsibilities
10. Adjustments: Process for adjusting rates, taxes, and other outgoings
11. Default: Consequences and remedies for default by either party
12. Notices: How formal notices must be given between parties
13. General Provisions: Standard contract terms including governing law and interpretation
14. Execution: Signing requirements and execution blocks
1. Special Conditions: Additional terms specific to this transaction, used when standard terms need modification
2. Chattels and Fixtures: Detailed list of items included/excluded in sale, used when there are specific items to address
3. Finance Condition: Terms regarding purchaser's finance approval, used when purchase is subject to finance
4. Building and Pest Inspection: Conditions for building and pest inspections, used when these are required
5. Rental Provisions: Terms regarding existing tenancy, used when property is sold with tenants
6. Pool Compliance: Pool safety and compliance requirements, used when property includes a swimming pool
7. Foreign Investment: FIRB approval requirements, used when purchaser is a foreign buyer
8. GST Provisions: GST treatment of the sale, used when property is sold as part of a business
1. Schedule 1 - Property Inventory: Detailed list of included fixtures, fittings, and chattels
2. Schedule 2 - Special Conditions: Detailed special conditions agreed between parties
3. Schedule 3 - Property Certificate: Current title search and property certificate details
4. Schedule 4 - Vendor's Disclosure: Required disclosures about property condition and known issues
5. Appendix A - Property Plans: Property plans, surveys, and drawings
6. Appendix B - Certificates: Relevant compliance certificates and permits
7. Appendix C - Tenancy Documents: Current lease agreement and tenant details if applicable
8. Appendix D - Building Reports: Any existing building or pest inspection reports
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