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Conditional Deed Of Sale Of Real Property Template for Australia

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Key Requirements PROMPT example:

Conditional Deed Of Sale Of Real Property

"I need a Conditional Deed of Sale of Real Property for a residential property sale in Sydney, with settlement scheduled for March 2025, subject to finance approval and satisfactory building inspection conditions."

Document background
The Conditional Deed of Sale of Real Property is a crucial legal instrument in Australian property transactions where certain conditions must be met before the sale becomes unconditional. This document is commonly used when the property sale depends on factors such as finance approval, satisfactory building and pest inspections, or regulatory approvals. It provides a comprehensive framework for the transaction, including detailed property descriptions, purchase price, settlement arrangements, and specific conditions that must be satisfied. The deed is particularly important in Australian jurisdictions as it offers protection to both parties by clearly defining their rights, obligations, and the consequences of condition fulfillment or failure. It accommodates state-specific requirements while maintaining compliance with federal legislation and common law principles governing property transactions.
Suggested Sections

1. Parties: Identifies and defines all parties to the deed including the Vendor/Seller and Purchaser/Buyer with full legal names and addresses

2. Background: Recitals explaining the context of the sale, property ownership status, and intention to enter into the deed

3. Definitions: Defines key terms used throughout the deed including Property, Settlement Date, Purchase Price, Deposit, and other relevant terms

4. Property Details: Comprehensive description of the property including lot number, plan, title reference, and street address

5. Purchase Price: States the agreed purchase price, deposit amount, deposit payment terms, and balance payment requirements

6. Conditions Precedent: Details the conditions that must be satisfied before the sale becomes unconditional, including timeframes and requirements

7. Settlement: Specifies settlement date, time, location, and requirements for completion of the sale

8. Vendor Warranties: Warranties provided by the vendor regarding the property's condition, title, and encumbrances

9. Purchaser Warranties: Warranties provided by the purchaser regarding capacity to purchase and finance

10. Risk and Insurance: Addresses when risk passes to the purchaser and insurance requirements

11. Default: Consequences and remedies in case of default by either party

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

13. Notices: How and where notices must be served between parties

14. General Provisions: Standard contract provisions including governing law, entire agreement, and variation requirements

15. Execution: Formal execution block for all parties and witnesses

Optional Sections

1. Tenancy Details: Required when the property is sold subject to existing tenancy arrangements

2. Special Conditions: Used when there are unique requirements or circumstances specific to this sale

3. Finance Condition: Required when the sale is conditional upon the purchaser obtaining finance approval

4. Building and Pest Inspection: Used when the sale is conditional upon satisfactory building and pest inspections

5. Foreign Investment Review Board Approval: Required when the purchaser is a foreign person requiring FIRB approval

6. Pool Compliance: Required when the property includes a swimming pool

7. Body Corporate Provisions: Required for properties under strata or community title

8. Chattels and Exclusions: Used when specific items are included or excluded from the sale

9. Development Conditions: Required when the sale is conditional upon obtaining development approvals

10. Environmental Matters: Used when there are specific environmental considerations or requirements

Suggested Schedules

1. Schedule 1 - Property Description: Detailed property description including title particulars, improvements, and included fixtures

2. Schedule 2 - Purchase Price Breakdown: Itemized breakdown of the purchase price including deposit and balance calculations

3. Schedule 3 - Included Chattels: List of movable items included in the sale

4. Schedule 4 - Excluded Items: List of items specifically excluded from the sale

5. Schedule 5 - Special Conditions: Detailed special conditions applicable to the sale

6. Schedule 6 - Prescribed Notices: Statutory notices required under relevant state legislation

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

8. Appendix B - Plan of Land: Survey plan or registered plan of the land

9. Appendix C - Disclosure Documents: Required statutory disclosure documents

10. Appendix D - Tenancy Documents: Copies of relevant tenancy agreements and documentation if applicable

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

Relevant legal definitions


















































Clauses






























Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Investment

Agriculture (for rural properties)

Commercial Property

Residential Property

Retail Property

Relevant Teams

Legal

Real Estate

Property Management

Conveyancing

Compliance

Sales

Contract Administration

Due Diligence

Settlement

Property Development

Relevant Roles

Property Lawyer

Real Estate Agent

Conveyancer

Property Manager

Legal Counsel

Contract Administrator

Settlement Officer

Property Development Manager

Commercial Property Manager

Compliance Officer

Real Estate Transaction Manager

Property Sales Executive

Legal Operations Manager

Due Diligence Officer

Real Estate Portfolio 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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