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Amendment To Real Estate Contract Template for Australia

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Key Requirements PROMPT example:

Amendment To Real Estate Contract

"I need an Amendment to Real Estate Contract to modify the purchase price from $850,000 to $825,000 and extend the settlement date to March 15, 2025, due to financing conditions."

Document background
The Amendment To Real Estate Contract is a crucial document used in Australian property transactions when parties need to modify an existing real estate contract without creating an entirely new agreement. This document is typically required when circumstances change after the original contract signing, such as adjustments to purchase price, settlement date, included fixtures, or special conditions. It ensures continuity of the original contract while incorporating necessary changes in compliance with Australian property law. The amendment must be properly executed by all parties and may require additional approvals from stakeholders such as mortgagees or legal representatives. This document is essential for maintaining legal clarity and protecting all parties' interests when modifications to the original contract are needed.
Suggested Sections

1. Parties: Full legal names and details of all parties to the original contract and amendment

2. Background: References to the original contract including date, property details, and reason for amendment

3. Definitions: Key terms used in the amendment, including references to defined terms in the original contract

4. Original Contract Reference: Specific clause references from the original contract that are being amended

5. Amendment Details: Clear statement of the exact changes being made to the original contract

6. Effect of Amendment: Statement confirming all other terms of the original contract remain unchanged

7. Effective Date: When the amendment takes effect

8. Execution: Signature blocks for all parties and witnesses if required

Optional Sections

1. Consideration: Required if there are changes to the purchase price or other financial terms

2. Conditions Precedent: Include if the amendment is subject to certain conditions being met

3. Regulatory Compliance: Include if the amendment triggers specific regulatory requirements

4. Third Party Consents: Required if the amendment needs approval from mortgagee or other stakeholders

5. Settlement Adjustments: Include if the amendment affects settlement calculations or timing

6. Special Conditions: Any unique or specific requirements related to the amendment

Suggested Schedules

1. Schedule of Amendments: Detailed list of all specific changes to clauses in the original contract

2. Updated Property Details: If the amendment involves changes to property specifications or inclusions

3. Revised Payment Schedule: If the amendment involves changes to payment terms or amounts

4. Consent Documents: Copies of third-party consents or approvals related to the amendment

5. Supporting Documentation: Any relevant certificates, permits, or other documents supporting the amendment

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


























Clauses




















Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Property Management

Construction

Property Investment

Residential Property

Commercial Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Sales

Contract Administration

Risk Management

Operations

Settlement

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancer

Property Manager

Contract Administrator

Legal Counsel

Property Developer

Sales Manager

Compliance Officer

Settlement Officer

Real Estate Broker

Property Consultant

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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