The Private Home Sale Contract is a fundamental legal document used in Australian residential property transactions between private parties. It is essential for documenting the agreed terms and conditions of a residential property sale, ensuring compliance with state and federal legislation. This contract type is typically used when selling standalone houses, apartments, or other residential properties, and must incorporate state-specific requirements for property transfers. It includes crucial elements such as property details, purchase price, settlement terms, warranties, and various disclosures required by Australian law. The document serves both as a record of the transaction and a legally enforceable agreement that protects the interests of both vendor and purchaser throughout the sale process.
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1. Parties: Identification and details of the vendor and purchaser
2. Background: Context of the sale and brief description of the property
3. Definitions: Definitions of key terms used throughout the contract
4. Property Details: Full legal description of the property, including title details and inclusions/exclusions
5. Purchase Price: Agreed purchase price and payment terms, including deposit details
6. Settlement: Settlement date, requirements, and process
7. Vendor's Warranties: Standard warranties regarding title, property condition, and encumbrances
8. Purchaser's Warranties: Warranties regarding capacity to purchase and finance
9. Condition of Property: State of the property at sale and any known defects
10. Risk and Insurance: Transfer of risk and insurance requirements
11. Default: Consequences of default by either party
12. Notices: Process for giving notices under the contract
13. General Provisions: Standard boilerplate clauses including governing law
14. Execution: Signing provisions and execution blocks
1. Foreign Investment: Required when purchaser is a foreign person under FIRB regulations
2. Special Conditions: For any additional conditions specific to the sale
3. Building and Pest: When contract is subject to building and pest inspection
4. Finance: When contract is subject to finance approval
5. Rental Property: Required when property is sold subject to existing tenancy
6. Swimming Pool Compliance: Required when property includes a swimming pool
7. Body Corporate: Required for properties under strata or community title
8. GST: Required when GST is applicable to the sale
1. Property Inventory: Detailed list of fixtures and fittings included/excluded in sale
2. Title Search: Current title search showing ownership and encumbrances
3. Property Certificate: Local government property information certificate
4. Disclosure Statement: Required statutory disclosures for the relevant state
5. Special Conditions: Details of any special conditions applying to the sale
6. Plan of Land: Survey plan or registered plan of the property
7. Tenancy Details: Current lease agreement and tenant details if applicable
8. Building Certificates: Relevant building certificates and compliance documents
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Legal Services
Banking and Finance
Property Development
Construction
Insurance
Conveyancing Services
Property Management
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Risk Management
Sales
Operations
Finance
Documentation
Customer Service
Relevant Roles
Real Estate Agent
Property Lawyer
Conveyancer
Property Manager
Legal Counsel
Contract Administrator
Settlement Agent
Mortgage Broker
Property Consultant
Compliance Officer
Real Estate Partner
Property Law Associate
Transaction Coordinator
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