The Private Real Estate Sale Contract is a fundamental legal document used in Australian property transactions between private parties. It is essential for any direct property sale where the vendor and purchaser agree to transfer ownership of real estate. The contract encompasses crucial elements including property details, purchase price, settlement terms, warranties, and conditions precedent to completion. It must comply with relevant state and federal legislation, including property law, consumer protection, and conveyancing requirements. This document is particularly important in Australia's property market where real estate transactions require robust legal documentation to ensure clear title transfer and protect all parties' interests. The contract can be used for both residential and commercial properties, provided it includes appropriate provisions specific to the property type and jurisdiction.
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1. Parties: Identification and details of the vendor(s) and purchaser(s), including full legal names, addresses, and contact information
2. Background: Context of the sale, including brief property history and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the contract
4. Property Details: Complete legal description of the property, including lot number, title reference, and street address
5. Purchase Price: Agreed purchase price, deposit amount, and payment terms
6. Settlement: Settlement date, time, and location details, including processes and requirements
7. Property Transfer: Terms and conditions for the transfer of title and possession
8. Vendor's Warranties: Warranties regarding property title, encumbrances, and condition
9. Purchaser's Warranties: Warranties regarding financial capacity and compliance with foreign investment laws
10. Default and Termination: Consequences of default and conditions for termination
11. Notices: Process and requirements for giving notices under the contract
12. Execution: Formal execution clauses and signing requirements
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 the sale, used when specific items need clarification
3. Tenancy Details: Information about existing tenancies, used when property is sold with tenants
4. Pool Safety: Pool safety compliance details, used when property includes a swimming pool
5. Building and Pest Inspection: Conditions relating to inspection requirements, used when sale is subject to inspections
6. Finance Condition: Terms relating to purchaser's finance approval, used when sale is subject to finance
7. Foreign Investment Approval: Requirements for foreign investment approval, used when purchaser is a foreign person
8. GST Provisions: GST-specific terms, used when GST is applicable to the transaction
1. Schedule 1 - Property Description: Detailed property description including boundaries, easements, and encumbrances
2. Schedule 2 - Included Chattels: Comprehensive list of fixtures and fittings included in the sale
3. Schedule 3 - Excluded Items: List of items specifically excluded from the sale
4. Schedule 4 - Special Conditions: Detailed special conditions applicable to the sale
5. Schedule 5 - Disclosure Statement: Statutory disclosures required by state legislation
6. Appendix A - Title Search: Current title search showing ownership and registered interests
7. Appendix B - Property Plans: Survey plans, building plans, and other relevant property diagrams
8. Appendix C - Certificates: Relevant certificates including zoning, building approvals, and compliance certificates
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