The Intent to Sell Contract is a crucial document in Australian property transactions that bridges the gap between verbal negotiations and a formal contract of sale. This document is typically used when parties have reached preliminary agreement on key terms but require time for due diligence, finance approval, or other conditions before proceeding to a formal sale contract. It includes essential details such as property description, proposed purchase price, timeframes, and any specific conditions that must be met before proceeding to final contract. The agreement provides legal protection for both parties during the pre-contract phase while allowing flexibility for necessary investigations and approvals. While not as comprehensive as a full sale contract, the Intent to Sell Contract creates binding obligations regarding the proposed transaction and must comply with Australian property law requirements and state-specific regulations.
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1. Parties: Identification and details of the potential seller and potential buyer, including full legal names, addresses, and contact information
2. Background: Context of the agreement, including the seller's ownership of the property and the parties' intention to enter into a future sale agreement
3. Definitions: Key terms used throughout the document defined for clarity and legal certainty
4. Property Details: Complete description of the property including address, lot number, title details, and any inclusions or exclusions
5. Purchase Price: Proposed purchase price and any conditions or mechanisms for price adjustment
6. Due Diligence Period: Timeframe and terms for the buyer to conduct property investigations and reviews
7. Deposit Terms: Amount, payment terms, and handling of any deposit to be paid
8. Conditions Precedent: Conditions that must be satisfied before proceeding to a formal sale contract
9. Timeframe: Period for which the intent to sell remains valid and deadlines for moving to formal contract
10. Confidentiality: Obligations regarding confidential information shared during the process
11. Termination: Circumstances under which either party may terminate the intent to sell agreement
12. Governing Law: Specification that Australian law governs the agreement and relevant jurisdiction
1. Finance Clause: Used when the buyer's intention is subject to obtaining financing approval
2. Building and Pest Inspection: Include when the buyer requires specific provisions for conducting building and pest inspections
3. Existing Tenancy: Required if the property has existing tenants and specifies handling of tenancy arrangements
4. Special Conditions: Any unique requirements or conditions specific to the transaction
5. Agent Authorization: Include if real estate agents are involved in the transaction
6. Foreign Investment Approval: Required if the buyer is a foreign person under FIRB regulations
7. Chattels and Fixtures: Detailed listing of items included/excluded in the sale when specific items need to be addressed
8. Development Conditions: Include if the buyer's intention is subject to obtaining development approvals
1. Schedule 1 - Property Details: Detailed property description including title particulars, boundaries, and certificates of title
2. Schedule 2 - Included Chattels: Itemized list of movable items included in the intended sale
3. Schedule 3 - Due Diligence Requirements: Specific requirements and procedures for the due diligence process
4. Schedule 4 - Disclosure Documents: List of documents provided by the seller regarding the property
5. Appendix A - Property Plans: Property plans, drawings, or surveys relevant to the property
6. Appendix B - Certificates: Copies of relevant certificates including zoning, building approvals, or compliance certificates
Relevant legal definitions
Agreement
Business Day
Completion Date
Confidential Information
Deposit
Due Diligence
Due Diligence Period
Effective Date
Encumbrances
Execution Date
Fixtures and Fittings
Formal Contract
GST
Improvements
Intent Period
Land
Notice
Parties
Permitted Use
Property
Purchase Price
Purchaser
Related Entity
Representative
Seller
Settlement
Special Conditions
Termination Date
Title Documents
Transfer Documents
Vendor
Business Day
Completion Date
Confidential Information
Deposit
Due Diligence
Due Diligence Period
Effective Date
Encumbrances
Execution Date
Fixtures and Fittings
Formal Contract
GST
Improvements
Intent Period
Land
Notice
Parties
Permitted Use
Property
Purchase Price
Purchaser
Related Entity
Representative
Seller
Settlement
Special Conditions
Termination Date
Title Documents
Transfer Documents
Vendor
Clauses
Identification of Parties
Property Description
Purchase Price
Deposit
Due Diligence
Conditions Precedent
Timeframes
Confidentiality
Exclusivity
Warranties
Property Access
Transaction Costs
GST
Notices
Assignment
Termination
Force Majeure
Dispute Resolution
Governing Law
Entire Agreement
Special Conditions
Property Inspection
Finance Conditions
Documentation Requirements
Further Assurances
Title Matters
Seller's Obligations
Buyer's Obligations
Risk and Insurance
Representations
Property Description
Purchase Price
Deposit
Due Diligence
Conditions Precedent
Timeframes
Confidentiality
Exclusivity
Warranties
Property Access
Transaction Costs
GST
Notices
Assignment
Termination
Force Majeure
Dispute Resolution
Governing Law
Entire Agreement
Special Conditions
Property Inspection
Finance Conditions
Documentation Requirements
Further Assurances
Title Matters
Seller's Obligations
Buyer's Obligations
Risk and Insurance
Representations
Relevant Industries
Real Estate
Property Development
Legal Services
Banking and Finance
Construction
Commercial Property
Residential Property
Property Investment
Asset Management
Property Management
Relevant Teams
Legal
Real Estate
Property Management
Business Development
Sales
Compliance
Investment
Asset Management
Corporate Development
Risk Management
Relevant Roles
Property Lawyer
Real Estate Agent
Property Manager
Legal Counsel
Conveyancer
Business Development Manager
Property Developer
Investment Manager
Asset Manager
Corporate Lawyer
Transaction Manager
Sales Director
Property Consultant
Legal Administrator
Compliance Officer
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