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Real Estate Buy Sell Agreement

Real Estate Buy Sell Agreement Template for Australia

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Key Requirements PROMPT example:

Real Estate Buy Sell Agreement Template

"I need a Real Estate Buy Sell Agreement Template for a residential property sale in New South Wales, Australia, with settlement scheduled for March 2025, including specific clauses for a swimming pool and solar panel installation."

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Document background
The Real Estate Buy Sell Agreement Template is designed for use in Australian property transactions, providing a standardized framework for documenting property sales between vendors and purchasers. This template is essential when parties are entering into a binding agreement for the sale and purchase of real estate in Australia, whether for residential or commercial properties. It incorporates all necessary legal requirements under Australian property law, including provisions for deposit payment, settlement conditions, property transfer procedures, and statutory disclosures. The document can be customized to address specific transaction requirements while maintaining compliance with relevant state and federal legislation, making it suitable for use by real estate professionals, legal practitioners, and property investors across Australia.
Suggested Sections

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

2. Background: Establishes the context of the sale and the parties' intentions

3. Definitions: Defines key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including address, title details, and included fixtures/fittings

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

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

7. Vendor's Obligations: Outlines the seller's responsibilities up to and including settlement

8. Purchaser's Obligations: Specifies the buyer's responsibilities and conditions to be met

9. Title and Transfer: Provisions regarding transfer of title and associated requirements

10. Adjustments: Details how rates, taxes, and other outgoings will be adjusted between parties

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

12. General Provisions: Standard contract terms including notices, governing law, and interpretation

13. Execution: Formal signing requirements and execution clauses

Optional Sections

1. Foreign Investment: Required when the purchaser is a foreign person requiring FIRB approval

2. Existing Tenancies: Used when the property is sold subject to existing tenant leases

3. Building and Pest Inspection: Includes conditions regarding property inspections and outcomes

4. Finance Condition: Required when the purchase is subject to the buyer obtaining finance

5. Swimming Pool Compliance: Necessary when the property includes a swimming pool

6. Body Corporate: Required for strata-titled properties including apartments and units

7. GST Provisions: Detailed GST treatment when applicable to the transaction

8. Special Conditions: Any unique conditions agreed between the parties

Suggested Schedules

1. Property Schedule: Detailed description of the property including lot number, title reference, and exact measurements

2. Included Chattels: Itemized list of moveable items included in the sale

3. Excluded Items: List of items specifically excluded from the sale

4. Disclosure Statement: Statutory disclosures required by state legislation

5. Title Search: Current title search showing encumbrances and restrictions

6. Property Certificates: Relevant zoning and planning certificates

7. Tenancy Details: Schedule of any existing tenancies including lease terms and conditions

8. Payment Schedule: Detailed breakdown of the payment structure including deposit and settlement payments

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Bank
Business Day
Chattels
Completion
Completion Date
Contract Date
Conveyancer
Cooling-off Period
Default Interest Rate
Deposit
Deposit Holder
Encumbrance
Fixtures
GST
Improvements
Land
Legal Practitioner
Notice
Outgoings
Particulars of Sale
Party/Parties
Payment Date
Property
Purchase Price
Purchaser
Registration
Representative
Reserve Price
Settlement
Settlement Date
Special Conditions
Stamp Duty
Title
Transfer
Transfer Date
Vendor
Verification of Identity
Working Day
Zoning Requirements
Clauses
Property Description
Purchase Price
Payment Terms
Deposit
Title Transfer
Settlement
Due Diligence
Property Inspection
Warranties and Representations
Default and Termination
Risk and Insurance
Adjustments and Outgoings
Compliance and Permits
Property Condition
Encumbrances
Foreign Investment
GST
Disclosure
Cooling-off Rights
Finance
Registration
Stamp Duty
Vacant Possession
Existing Tenancies
Building and Pest Inspection
Swimming Pool Compliance
Body Corporate
Planning and Zoning
Environmental Matters
Notice and Communications
Governing Law
Dispute Resolution
Force Majeure
Assignment
Severability
Entire Agreement
Execution
Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Investment

Agricultural (for rural properties)

Commercial Property

Residential Property

Property Management

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Risk Management

Operations

Sales

Investment

Contract Administration

Document Management

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancer

Property Manager

Real Estate Broker

Legal Counsel

Contract Administrator

Property Development Manager

Investment Manager

Compliance Officer

Real Estate Transaction Coordinator

Settlement Agent

Property Portfolio Manager

Real Estate Director

Legal Associate

Industries
Property Law Act: Core legislation governing real property transactions, including requirements for property transfers, legal interests in land, and contractual obligations in property deals
Conveyancing Act: Regulates the transfer of property ownership and sets out requirements for property conveyancing, including formal requirements for contracts and deeds
Real Estate and Business Agents Act: Governs the conduct of real estate transactions and duties of real estate agents, including disclosure requirements and professional obligations
Australian Consumer Law: Federal legislation providing consumer protections in transactions, including property purchases, covering misleading conduct and unfair contract terms
Electronic Transactions Act: Enables and regulates electronic transactions and signatures in property dealings, particularly relevant for modern property transactions
Foreign Acquisitions and Takeovers Act: Regulates property purchases by foreign persons, including requirements for FIRB approval where applicable
Building and Construction Industry Security of Payment Act: Relevant for provisions related to payment structures and building inspection conditions in property transactions
Duties Act: Governs stamp duty obligations and other taxes applicable to property transactions
Residential Tenancies Act: Relevant when the property being sold is subject to an existing tenancy agreement
Environmental Protection Act: Relevant for disclosure requirements regarding environmental issues or contamination affecting the property
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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