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Simple For Sale By Owner Contract for Australia

Simple For Sale By Owner Contract Template for Australia

This document is a legally binding agreement used in Australian property transactions where the owner chooses to sell their property without the involvement of a real estate agent. It comprehensively covers all essential aspects of the property sale, including property details, purchase price, settlement terms, and various conditions and warranties. The contract complies with Australian property law requirements and includes necessary consumer protections while remaining accessible for direct use by property owners. It incorporates state-specific requirements and can be used for both residential and commercial property sales.

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What is a Simple For Sale By Owner Contract?

The Simple For Sale By Owner Contract is designed for use in Australian jurisdictions where property owners wish to conduct private sales without real estate agent representation. This document becomes relevant when a property owner has found a potential buyer and needs to formalize the sale agreement. It includes all necessary components required by Australian property law, such as party details, property description, purchase price, settlement terms, and various warranties. The contract is structured to protect both parties' interests while remaining straightforward enough for direct use by property owners. It's particularly useful for straightforward property transactions where the parties prefer to minimize third-party involvement and associated costs. The document can be customized with optional sections to accommodate specific requirements such as special conditions, chattels inclusion/exclusion, and financing arrangements.

What sections should be included in a Simple For Sale By Owner Contract?

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

2. Background: Brief context of the sale, including property identification and intention to transfer ownership

3. Definitions: Key terms used throughout the contract defined for clarity and legal certainty

4. Property Details: Comprehensive description of the property including legal description, lot number, title details, and address

5. Purchase Price: Agreed purchase price and payment terms, including deposit requirements and final payment arrangements

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

7. Property Inspection: Terms regarding property inspection rights and conditions

8. Title and Transfer: Provisions regarding clear title, transfer process, and registration requirements

9. Seller's Warranties: Warranties regarding property ownership, condition, and disclosed encumbrances

10. Buyer's Warranties: Warranties regarding financial capacity and compliance with purchase conditions

11. Default and Termination: Consequences of default by either party and termination provisions

12. Notices: How and where formal notices under the contract must be given

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

What sections are optional to include in a Simple For Sale By Owner Contract?

1. Special Conditions: Additional terms specific to this sale, used when standard terms need modification

2. Chattels and Fixtures: Detailed list of items included/excluded in sale, used when specific items need clarification

3. Foreign Investment: Required when buyer is or may be a foreign person requiring FIRB approval

4. Finance Condition: Used when sale is conditional on buyer obtaining finance

5. Building and Pest Inspection: Used when sale is conditional on satisfactory building and pest inspections

6. Existing Tenancy: Required when property is sold with existing tenants

7. Pool Compliance: Required when property includes a swimming pool

8. Body Corporate: Required for properties under strata or community title

9. GST Provisions: Required when GST is applicable to the sale

What schedules should be included in a Simple For Sale By Owner Contract?

1. Schedule 1 - Property Details: Detailed property description, including title references and encumbrances

2. Schedule 2 - Included Chattels: Itemized list of all moveable items 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 applying to the sale

5. Appendix A - Property Title: Copy of current property title

6. Appendix B - Property Plan: Survey plan or property diagram

7. Appendix C - Disclosure Documents: Required statutory disclosures and certificates

8. Appendix D - Due Diligence Checklist: Checklist of buyer's due diligence requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Ƶ

Sector

Cost

Free to use
Relevant legal definitions








































Clauses



































Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Investment

Residential Housing

Commercial Property

Agricultural Land

Relevant Teams

Legal

Property Management

Real Estate Operations

Compliance

Risk Management

Contract Administration

Property Development

Investment

Operations

Relevant Roles

Property Owner

Private Seller

Property Buyer

Conveyancer

Property Lawyer

Legal Counsel

Real Estate Manager

Property Manager

Business Owner

Investment Manager

Property Developer

Compliance Officer

Contract Administrator

Legal Administrator

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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