CONTRACT OF SALE (RESIDENTIAL)

Date: 15 October 2023

PARTIES

Vendor (Seller): John James Smith 42 Wallaby Way, Sydney NSW 2000 0412 345 678 john.smith@email.com

Purchaser (Buyer): Sarah Jane Lee 10 GPO Box 1234, Melbourne VIC 3001 0422 987 654 sarah.lee@email.com

PROPERTY DETAILS

Address: 15 Koala Road, Brisbane QLD 4000 Lot/DP Number: 45 SP 123456 Title Reference: 9876543 Local Council: Brisbane City Council Zoning: Residential A

SALE PRICE AND DEPOSIT

Purchase Price: $850,000.00 (AUD)

Deposit: $85,000.00 (AUD)

The Purchaser pays the Deposit to the Vendor as follows:

• Payment on signing of this contract.

The balance of the Purchase Price will be paid on the Settlement Date.

SETTLEMENT

Settlement Date: This contract will settle on 30 days after the date of this contract. Settlement Date: 14 November 2023.

Settlement Place: Brisbane, QLD, Australia.

COOLING OFF PERIOD

The Purchaser has a right to terminate this contract within 5 days from the date the Vendor signs this contract. The Purchaser must give written notice to the Vendor. The Vendor may retain a penalty of 0.25% of the Deposit if the Purchaser terminates during this period.

CHATTELS AND FIXTURES

The sale includes the following chattels (unless otherwise stated):

• Light fittings
• Dishwasher
• Floor coverings
• Window coverings
• Alarm systems
• Other: N/A

All other goods not listed are excluded from the sale.

TITLES AND ENCUMBRANCES

The Vendor sells the property with all title and estate that the Vendor has. The Vendor sells the property subject to:

• Registered encumbrances disclosed in the attached Schedule of Encumbrances.
• Easements, covenants, and restrictions disclosed in the attached documents.
• Rates and taxes up to the date of settlement.

COMPLETION AND POSSESSION

On the Settlement Date:

1. The Vendor must give the Purchaser the title deeds and transfer documents.
2. The Vendor must give possession of the property to the Purchaser.

INCLUSIONS AND EXCLUSIONS

Inclusions: Garden Shed at the rear of the yard.

Exclusions: Water feature in the front garden.

SPECIAL CONDITIONS

[INSERT ANY SPECIAL CONDITIONS HERE]

• Finance approval required by 25 October 2023 for $850,000.00.
• Building and pest inspection satisfactory to Purchaser by 25 October 2023.
• Sale of Purchaser's existing property required.

GST

• The purchase price DOES NOT include GST.
• The purchase price INCLUDES GST.
• The supply is a going concern.
• The margin scheme applies.

WARRANTIES AND DISCLOSURES

The Vendor warrants that:

1. The Vendor has the right to sell the property.
2. There are no known notices or orders from the government affecting the property (except as disclosed).
3. All building works required approval have been approved and completed.

DEFAULT

If the Purchaser does not complete the purchase:

• The Vendor may terminate the contract.
• The Vendor may keep the Deposit.
• The Vendor may claim compensation for any loss.

If the Vendor does not complete the sale:

• The Purchaser may terminate the contract.
• The Purchaser may claim the return of the Deposit.
• The Purchaser may claim compensation for any loss.

SIGNATURES

SIGNED by the Vendor:

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John Smith

Witness Name: David Jones Witness Address: 1 Queen St, Brisbane Witness Signature: _________________________

SIGNED by the Purchaser:

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Sarah Lee

Witness Name: Emily White Witness Address: 2 King St, Sydney Witness Signature: _________________________

EXCHANGE CONFIRMATION

This contract was exchanged on 15 October 2023.

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