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Property Sales Agreement

Property Sales Agreement Template for Australia

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Key Requirements PROMPT example:

Property Sales Agreement

"I need a Property Sales Agreement for a residential property in Sydney, Australia, with settlement scheduled for March 15, 2025, that includes special conditions for an existing tenant and a swimming pool compliance certificate."

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Document background
The Property Sales Agreement is the foundational document for real estate transactions in Australia, used whenever real property is bought or sold. This legally binding contract serves multiple crucial functions: it formally documents the agreement between vendor and purchaser, specifies the exact property being transferred, sets out the financial terms including purchase price and deposit requirements, and establishes the conditions and warranties that protect both parties. The agreement must comply with state-specific property laws and federal regulations, particularly the Property Law Act and relevant Consumer Law provisions. It includes essential details about the property, settlement requirements, and any special conditions affecting the sale. The document is typically prepared following acceptance of an offer and requires careful review by legal professionals to ensure all relevant aspects of the transaction are properly addressed and documented.
Suggested Sections

1. Parties: Identifies and provides full details of the vendor/seller and purchaser/buyer

2. Background: Establishes the context of the sale, including brief property description and intention to sell/purchase

3. Definitions and Interpretation: Defines key terms used throughout the agreement and sets out interpretation rules

4. Property Description: Detailed description of the property including lot number, title reference, address, and included fixtures/fittings

5. Purchase Price: Specifies the agreed purchase price and payment structure including deposit details

6. Deposit: Details of deposit amount, payment timing, and holding arrangements

7. Settlement: Settlement date, time, and location, plus pre-settlement inspection rights

8. Title and Transfer: Provisions regarding transfer of title, including vendor's obligations to provide clear title

9. Adjustments: How rates, taxes, and other outgoings will be adjusted between parties at settlement

10. Property Condition: State of the property at sale, including any warranties about condition

11. Vendor's Warranties: Standard warranties given by the vendor about the property and their authority to sell

12. Purchaser's Warranties: Warranties given by the purchaser, including capacity to purchase

13. Default: Consequences of default by either party and available remedies

14. Risk and Insurance: When risk passes to the purchaser and insurance requirements

15. Notices: How formal notices under the agreement must be given

16. General Provisions: Standard contract clauses including governing law, entire agreement, and amendments

Optional Sections

1. Foreign Investment: Required when purchaser is a foreign person, detailing FIRB approval requirements

2. Existing Tenancies: Used when property is sold subject to existing lease agreements

3. Swimming Pool Compliance: Required when property includes a swimming pool, detailing compliance requirements

4. Building and Pest Inspection: When sale is conditional upon satisfactory building and pest inspections

5. Finance Condition: When sale is subject to purchaser obtaining finance approval

6. Development Approvals: Required when property has existing development approvals or applications

7. Environmental Matters: Used when property has known environmental issues or contamination

8. GST Treatment: Detailed GST provisions required for commercial properties or new residential premises

9. Property Management: Interim property management arrangements between contract and settlement

10. Special Conditions: Any unique conditions specific to this sale

Suggested Schedules

1. Property Schedule: Detailed property description including title particulars and encumbrances

2. Included Chattels: Itemized list of moveable items included in the sale

3. Excluded Items: List of items specifically excluded from the sale

4. Disclosure Statement: Statutory disclosures required by state legislation

5. Outstanding Orders: List of any outstanding orders or notices affecting the property

6. Existing Tenancy Details: Details of any existing leases or tenancy agreements

7. Title Search: Current title search showing registered interests and encumbrances

8. Plan of Property: Survey plan or registered plan of the property

9. Special Conditions: Detailed special conditions applicable to the sale

10. Form of Transfer: Prescribed form of transfer document to be executed at settlement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions












































Clauses



































Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Property Management

Construction

Property Investment

Residential Property

Commercial Property

Foreign Investment

Relevant Teams

Legal

Real Estate Operations

Compliance

Property Management

Risk Management

Contract Administration

Investment

Corporate Services

Sales

Property Development

Relevant Roles

Property Lawyer

Real Estate Agent

Conveyancer

Property Manager

Legal Counsel

Compliance Officer

Contract Administrator

Property Development Manager

Investment Manager

Real Estate Operations Manager

Settlement Agent

Title Officer

Real Estate Transaction Coordinator

Property Portfolio Manager

Risk Manager

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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