The Real Estate Offer and Acceptance Form is a fundamental document in Australian property transactions, designed to initiate the formal process of property purchase and sale. It is typically used as the first binding document between parties in a property transaction, capturing the buyer's formal offer and the seller's acceptance of terms. The form includes crucial information such as property details, purchase price, settlement terms, and any special conditions or contingencies. This document must comply with relevant state and federal legislation, including the Property Law Act and state-specific real estate regulations. It serves as a precursor to the full contract of sale and is particularly important as it sets out the initial legally binding terms between parties. The form is commonly used in both residential and commercial property transactions throughout Australia, with variations existing to accommodate state-specific requirements and special circumstances such as strata properties or rural land transfers.
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1. Parties: Details of the buyer (offeror) and seller (offeree), including full legal names, addresses, and contact information
2. Property Details: Complete description of the property including lot number, street address, certificate of title details, and land measurements
3. Purchase Price: The offered purchase price in words and figures, including GST status if applicable
4. Payment Terms: Details of deposit amount, payment method, timing, and balance payment arrangements
5. Settlement: Proposed settlement date and location, plus any specific settlement requirements
6. Finance Condition: Details of finance requirements, including amount, lender, and finance approval date
7. Inspection Conditions: Standard conditions regarding building inspection, pest inspection, and other property checks
8. Chattels and Fixtures: List of items included and excluded from the sale
9. Special Conditions: Space for any additional conditions specific to this transaction
10. Timeframes: Key dates and deadlines for conditions, deposit, and settlement
11. Execution: Signing section for all parties, including witnesses where required
1. Strata Title Provisions: Required when the property is under strata title, including details of strata fees and any special levies
2. FIRB Approval: Required for foreign buyers, including conditions related to Foreign Investment Review Board approval
3. Subject to Sale: Used when the purchase is conditional on the buyer selling their existing property
4. Rural Land Provisions: Special conditions for rural properties including water rights, farming contracts, or livestock
5. Lease Details: Required when the property is sold subject to existing tenancy
6. Swimming Pool Compliance: Special conditions regarding pool safety certificates and compliance
7. Development Conditions: Used when purchase is subject to development approval or zoning changes
1. Property Inventory: Detailed list of included fixtures, fittings, and chattels
2. Special Conditions Schedule: Detailed explanation of any special conditions referenced in the main form
3. Property Inspection Report: Standard form for recording property condition at inspection
4. Buyer's Checklist: List of required actions and documents for the buyer
5. Deposit Receipt: Form for acknowledging receipt of deposit payment
6. Joint Form of General Conditions: Standard terms and conditions for real estate transactions in the relevant state
7. Property Title Documents: Copies of certificate of title and relevant encumbrances
Relevant legal definitions
Acceptance Date
Business Day
Building Inspection
Buyer
Certificate of Title
Chattels
Completion
Conditions Precedent
Contract Date
Deposit
Encumbrances
Finance Approval
Fixtures
GST
Improvements
Land
Offer
Outstanding Rates and Taxes
Pest Inspection
Property
Purchase Price
Representatives
Seller
Settlement
Settlement Date
Special Conditions
Stamp Duty
Strata Title
Title Documents
Transfer Documents
Vacant Possession
Business Day
Building Inspection
Buyer
Certificate of Title
Chattels
Completion
Conditions Precedent
Contract Date
Deposit
Encumbrances
Finance Approval
Fixtures
GST
Improvements
Land
Offer
Outstanding Rates and Taxes
Pest Inspection
Property
Purchase Price
Representatives
Seller
Settlement
Settlement Date
Special Conditions
Stamp Duty
Strata Title
Title Documents
Transfer Documents
Vacant Possession
Clauses
Property Identification
Purchase Price
Payment Terms
Deposit Requirements
Finance Conditions
Property Inspection
Due Diligence
Settlement
Default
Risk and Insurance
Vacant Possession
Warranties and Representations
Encumbrances
Adjustments
Chattels and Fixtures
Conditions Precedent
Time of Essence
Notice Requirements
GST Provisions
Stamp Duty
Foreign Investment
Strata Title
Assignment
Agency Disclosure
Dispute Resolution
Governing Law
Purchase Price
Payment Terms
Deposit Requirements
Finance Conditions
Property Inspection
Due Diligence
Settlement
Default
Risk and Insurance
Vacant Possession
Warranties and Representations
Encumbrances
Adjustments
Chattels and Fixtures
Conditions Precedent
Time of Essence
Notice Requirements
GST Provisions
Stamp Duty
Foreign Investment
Strata Title
Assignment
Agency Disclosure
Dispute Resolution
Governing Law
Relevant Industries
Real Estate
Residential Property
Commercial Property
Property Development
Banking and Finance
Legal Services
Property Management
Construction
Agriculture (for rural properties)
Retail (for commercial properties)
Relevant Teams
Legal
Real Estate Operations
Property Management
Sales
Compliance
Risk Management
Commercial Property
Residential Property
Settlements
Contract Administration
Relevant Roles
Real Estate Agent
Property Lawyer
Conveyancer
Property Manager
Commercial Property Manager
Real Estate Branch Manager
Settlement Agent
Mortgage Broker
Property Developer
Real Estate Operations Manager
Legal Counsel
Compliance Officer
Property Consultant
Sales Director
Acquisitions Manager
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