FREE Australian Real Estate Contract for Sale of Land

REAL ESTATE CONTRACT FOR SALE OF LAND

This Real Estate Contract for Sale (“Agreement”) is made on [Date] by and between:

[Name], having permanent address at [Address], hereinafter referred as the Purchaser;

AND

[Name], having permanent place of residence at [Address], hereinafter referred as the Seller.

FOR VALUABLE CONSIDERATION OF AUS $ [Amount] and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, by the Seller, whether one or more, and the Buyer, whether one or more, do hereby covenant, contract and agree as follows:



AGREEMENT TO SALE AND PURCHASE: The Seller agrees to sell, and Buyer agrees to buy from Seller the land described as follows:



[Complete Description of the Land]



2. Encumbrances:



1.1 The Purchaser buys the property subject to:



(a) any encumbrance shown in the Seller’s Statement other than mortgages or caveats; and

(b) any reservations; and



The Purchaser indemnifies the Seller against all obligations under any lease that are to be performed by the landlord after settlement.



If the particulars of sale provide that the purchaser is taking over an existing mortgage:



(a) the Purchaser assumes liability for the mortgage; and

(b) the price is satisfied to the extent of any mortgage money owing at settlement; and

The Seller warrants that these general conditions 1 to 28 are identical to the general conditions 1 to 28 in the standard form of contract of sale of real estate prescribed by the Estate Agents (Contracts) Regulations 2008 for the purposes of section 53A of the Estate Agents Act 1980.

The purchaser may not:



(a) make any objection or claim for compensation for any alleged mis-description of the property or any deficiency in its area or measurements;



Payment: The payment schedule as agreed between the Purchaser and the Seller is as follows:



Purchase Price: [Amount] [Date of Payment]



Earnest Money: [Amount] [Date of Payment]



Seller Financing: [Amount] [Date of Payment]



Cash at Closing: [Amount] [Date of Payment]



Total: [Amount] [Date of Payment]



As earnest money Purchaser deposits AUS $ [Amount] with the Seller which shall be applied to the purchase price at the time of closing the sale.





Purchaser shall be given possession of the property on [Date]. A failure on the part of Seller to transfer possession as specified will not make Seller a tenant of Purchaser, but in such event Seller shall pay to Purchaser AUS $ [Amount] per day as damages for breach of contract and not as rent. All other remedies, which Purchaser may have under law, are reserved to Purchaser.



This agreement shall be interpreted and enforced in accordance with the laws of the State [State], Australia.



Seller represents that as of the Closing Date (a) there will be no liens, assessments, or security interests against the Land, which will not be satisfied out of the sales, proceeds.

General law land:



This general condition only applies if any part of the land is not under the operation of the Transfer of Land Act 1958.



The purchaser is entitled to inspect the vendor's chain of title on request at such place in Victoria as the vendor nominates.



The purchaser is taken to have accepted the vendor's title if:



(a) 21 days have elapsed since the day of sale; and

(b) the purchaser has not reasonably objected to the title or reasonably required the vendor to remedy a defect in the title.





EXECUTED the [Date] (THE EFFECTIVE DATE).





Purchaser Seller



Date: Date: