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Private Sale Contract Template for Australia

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Key Requirements PROMPT example:

Private Sale Contract Template

"I need a Private Sale Contract Template for selling my commercial warehouse property in Melbourne, with specific provisions for the existing tenant's lease to continue until March 2025 and including conditions about the transfer of industrial equipment installed in the property."

Document background
The Private Sale Contract Template is designed for use in Australian property transactions where a property is sold directly between a vendor and purchaser, either with or without real estate agent involvement. This template is structured to comply with Australian property law requirements and includes all necessary elements for a valid property sale contract, including party details, property description, purchase price, settlement terms, and statutory warranties. It is particularly useful for legal practitioners, real estate professionals, and property developers who require a standardized yet customizable document that can be adapted for various property types while maintaining compliance with relevant state and federal legislation. The template includes provisions for both residential and commercial properties and can be modified to accommodate special conditions or specific requirements of the transaction.
Suggested Sections

1. Parties: Identifies and provides full details of the Vendor and Purchaser

2. Background: Sets out the context of the sale and confirms the Vendor's ownership of the property

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

4. Property Details: Specific details of the property being sold, including lot number, title references, and address

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

6. Deposit: Specifies the deposit amount, payment timing, and holding arrangements

7. Settlement: Details of the settlement process, timing, and requirements

8. Adjustments: Provisions for adjusting rates, taxes, and other outgoings at settlement

9. Title and Transfer: Requirements for transfer of title and associated documentation

10. Vendor Warranties: Standard warranties provided by the Vendor regarding the property

11. Purchaser Warranties: Standard warranties provided by the Purchaser regarding capacity to purchase

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

13. General Provisions: Standard contract provisions including notices, governing law, and entire agreement

14. Execution: Formal execution blocks for all parties

Optional Sections

1. GST: Required when the property sale is subject to GST or when the Vendor is registered for GST

2. Foreign Investment: Required when the Purchaser is a foreign person under FIRB regulations

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

4. Existing Tenancies: Required when the property is sold subject to existing tenant leases

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

6. Finance Condition: Used when the contract is conditional upon the Purchaser obtaining finance

7. Swimming Pool/Spa Compliance: Required when the property includes a swimming pool or spa

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

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including title references, inclusions, and exclusions

2. Schedule 2 - Purchase Price Breakdown: Detailed breakdown of the purchase price, deposit, and payment terms

3. Schedule 3 - Disclosed Encumbrances: List of all registered and unregistered encumbrances affecting the property

4. Schedule 4 - Special Conditions: Any special conditions agreed between the parties

5. Appendix A - Title Search: Current title search showing registered interests in the property

6. Appendix B - Plan of Land: Survey plan or registered plan showing the property boundaries

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

8. Appendix D - Due Diligence Checklist: Standard checklist of matters the Purchaser should consider

Authors

Alex Denne

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

Legal Services

Property Development

Construction

Banking and Finance

Professional Services

Property Investment

Residential Housing

Commercial Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Operations

Sales

Conveyancing

Contract Administration

Risk Management

Corporate Services

Relevant Roles

Property Lawyer

Real Estate Agent

Conveyancer

Property Manager

Legal Counsel

Contract Manager

Property Developer

Real Estate Director

Settlement Agent

Compliance Officer

Real Estate Broker

Property Consultant

Legal Administrator

Transaction Coordinator

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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