CONTRACT OF SALE (RESIDENTIAL)

Date: [DATE]

PARTIES

Vendor (Seller): [SELLER FULL NAME] [SELLER ADDRESS] [SELLER PHONE] [SELLER EMAIL]

Purchaser (Buyer): [BUYER FULL NAME] [BUYER ADDRESS] [BUYER PHONE] [BUYER EMAIL]

PROPERTY DETAILS

Address: [PROPERTY STREET ADDRESS] Lot/DP Number: [LOT NUMBER] [DEPOSITED PLAN NUMBER] Title Reference: [TORRENS TITLE REFERENCE] Local Council: [COUNCIL NAME] Zoning: [ZONING CLASSIFICATION]

SALE PRICE AND DEPOSIT

Purchase Price: $[PURCHASE PRICE] (AUD)

Deposit: $[DEPOSIT AMOUNT] (AUD)

The Purchaser pays the Deposit to the Vendor as follows:

• Payment on signing of this contract.
• Payment within [NUMBER] days of signing this contract.

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

SETTLEMENT

Settlement Date: This contract will settle on [SETTLEMENT DATE] or [NUMBER] days after the date of this contract.

Settlement Place: [CITY, STATE], Australia.

COOLING OFF PERIOD

The Purchaser has a right to terminate this contract within [NUMBER] 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 [PERCENTAGE]% 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
• Alarm systems
• Floor coverings
• Window coverings
• Other: [SPECIFY ITEMS]

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: [LIST ANY INCLUDED ITEMS NOT COVERED ABOVE]

Exclusions: [LIST ANY SPECIFIC EXCLUSIONS, E.G., A SPECIFIC PLANT POT OR ARTWORK]

SPECIAL CONDITIONS

[INSERT ANY SPECIAL CONDITIONS HERE]

• Finance approval required by [DATE] for $[AMOUNT].
• Building and pest inspection satisfactory to Purchaser by [DATE].
• Sale of Purchaser's existing property at [ADDRESS] required.

GST

• The purchase price DOES NOT include GST.
• The purchase price INCLUDES GST (Vendor to provide Tax Invoice).
• The supply is a going concern and GST is not payable.
• 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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[SELLER SIGNATURE]

Witness Name: _________________________ Witness Address: _________________________ Witness Signature: _________________________

SIGNED by the Purchaser:

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[BUYER SIGNATURE]

Witness Name: _________________________ Witness Address: _________________________ Witness Signature: _________________________

EXCHANGE CONFIRMATION

This contract was exchanged on [EXCHANGE DATE].

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[AGENT OR SOLICITOR SIGNATURE]