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.
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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
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
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
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