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As Is Property Sale Agreement

As Is Property Sale Agreement Template for Australia

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Key Requirements PROMPT example:

As Is Property Sale Agreement

"I need an As Is Property Sale Agreement for a residential property in Sydney, Australia, where the buyer has acknowledged significant renovation requirements and the settlement is planned for March 2025."

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Document background
The As Is Property Sale Agreement is a specialized legal document used in Australian property transactions where the seller wishes to transfer property ownership without providing warranties about the property's condition. This agreement is particularly relevant for properties that may have known defects, require renovation, or where the seller wants to limit their liability regarding the property's condition. The document includes comprehensive provisions covering property details, purchase price, settlement terms, and risk allocation, with specific emphasis on buyer acknowledgments and seller disclaimers. It's commonly used in distressed sales, auction purchases, or when dealing with properties that require significant renovation. The agreement must comply with Australian property law and state-specific requirements, including necessary statutory declarations and disclosures.
Suggested Sections

1. Parties: Identifies and defines the Vendor and Purchaser with full legal names and addresses

2. Background: Contextual information about the property sale and confirmation of the 'as is' nature of the transaction

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

4. Property Details: Detailed description of the property being sold, including lot number, title details, and included fixtures

5. Purchase Price and Payment Terms: Specifies the agreed purchase price, deposit amount, and payment schedule

6. As Is Condition and Disclaimers: Explicit statements regarding the property's 'as is' condition and vendor disclaimers regarding property condition

7. Purchaser Acknowledgments: Purchaser's confirmation of property inspection and acceptance of condition

8. Settlement: Settlement date, requirements, and process

9. Risk and Insurance: Transfer of risk provisions and insurance requirements until settlement

10. Default and Termination: Consequences of default by either party and termination rights

11. GST: GST treatment of the sale and required declarations

12. General Provisions: Standard contract clauses including notices, governing law, and entire agreement

13. Execution: Formal execution blocks for all parties

Optional Sections

1. Chattels and Exclusions: Used when specific items need to be included or excluded from the sale

2. Special Conditions: Used when additional terms specific to the transaction need to be included

3. Tenancy Details: Required if the property is sold subject to existing tenancies

4. Foreign Investment Provisions: Required if the purchaser is a foreign person under FIRB regulations

5. Pool Compliance: Required if the property includes a swimming pool

6. Heritage Considerations: Required if the property is heritage listed or in a heritage overlay

7. Environmental Matters: Used when there are known environmental issues or contamination

8. Planning Restrictions: Used when specific planning overlays or restrictions affect the property

Suggested Schedules

1. Schedule 1 - Property Details: Comprehensive property description, title details, and encumbrances

2. Schedule 2 - Included Chattels: List of items included in the sale

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

4. Schedule 4 - Known Defects: List of known defects or issues with the property

5. Schedule 5 - Due Diligence Results: Summary of any due diligence investigations conducted

6. Appendix A - Property Inspection Report: Copy of any property inspection reports obtained

7. Appendix B - Title Documents: Copy of title search and registered encumbrances

8. Appendix C - Planning Certificates: Relevant planning and zoning certificates

9. Appendix D - Required Statutory Forms: State-specific forms required for property transfer

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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

Construction

Banking and Finance

Legal Services

Property Investment

Property Management

Commercial Real Estate

Residential Real Estate

Asset Management

Relevant Teams

Legal

Real Estate

Property Management

Risk Management

Compliance

Operations

Finance

Asset Management

Investment

Due Diligence

Acquisitions

Sales

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancer

Property Developer

Asset Manager

Property Manager

Legal Counsel

Contract Manager

Risk Manager

Compliance Officer

Property Investment Manager

Real Estate Broker

Settlement Agent

Title Officer

Due Diligence 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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