Document background
The Sub Sale Agreement is a crucial document in Australian property transactions involving multiple parties in a chain of sales. It is typically used when an intermediate purchaser has entered into a contract to purchase a property but wishes to on-sell their interest before settlement occurs. The agreement ensures coordinated settlement of both transactions, manages the flow of funds, and addresses potential risks and compliance requirements. It must comply with Australian property law, including state-specific requirements, and typically includes provisions for deposit handling, settlement procedures, warranties, and risk allocation. The document is particularly important in property development and investment contexts where timing and coordination of multiple transactions is critical.
