Special Conditions

Due Diligence

  1. This Contract is subject to and conditional upon the Buyers conducting investigations, to the Buyer’s discretionin relation to the property within 21 days from the Contract Date (“the Due Diligence Date”). If the Buyer is not satisfied with the results of the investigations, the Buyer can terminate this Contract by giving written notice to the Seller or the Seller’s solicitor at any time before 5.00pm on the Due Diligence Date and the Deposit must be refunded to the Buyer in full. 
  2. If the Buyer(s) do not give notice by 5.00pm on the last day of the Due Diligence Date then the Seller(s) may terminate this Contract by notice in writing to the Buyer(s) or Buyer(s) solicitors and in that event all deposit monies shall be refunded in full to the Buyer(s). 
  3. The Seller(s) authorises the Buyer(s) or their agents to enter on the Property for the purposes of the due diligence investigations upon giving reasonable notice. 
  4. This Special Condition is inserted for the benefit of the Buyer(s) and may be waived by the Buyer(s) at any time.

Payment of Agent's commission when insufficient Deposit

In the event the Deposit held by the Deposit Holder is not sufficient to pay the agent’s commission, marketing costs and GST, the Buyer is hereby irrevocably authorized and directed to pay the balance commission, marketing costs and GST on behalf of the Seller to the Agent from the balance purchase monies on the Completion Date.  

Subject to the Sale of the Buyer's Property - no existing Contract

  1. This Contract is subject to and conditional upon the Buyer selling their property situated at _______________________________ (“the Property”) and entering into a Contract for the sale of the propertand such Contract becoming unconditional on or before _________________days or by __________________ (date) [the Sale Period] and with a Completion date no later than _______________________ days or by _________________________(date). 
  2. The Buyer will promptly inform the Seller or Seller’s solicitors when a sale Contract is entered into and advise the date thereof including the date by which the Contract will become unconditional with respect to any special conditions. 
  3. If the Buyer enters into a sale Contract within the Sale Period mentioned above then this Contract will be conditional upon the successful Completion of such sale Contract and the date of Completion of this Contract will be contemporaneous with the Completion date of such sale Contract. 
  4. If the Buyer does not achieve an unconditional contract status within the Sale Period or does not advise the Seller or Seller’s solicitors by 5.00pm on the final day of the Sale Period that an unconditional sale Contract is achieved then either the Buyer or Seller may terminate this Contract by notice in writing to the other party and the whole deposit shall be refunded in full to the Buyer. 
  5. The Buyer must use its best endeavors to sell their property and enter into a sale Contract during the Sale Period.

Subject to the Sale of the Buyer's Property - existing Contract

  1. This Contract is subject to and conditional upon the Completion of the Buyer’s property at _____________________ (the “Buyer’s Property”) on or before ___________(days) from the Contract Date or by ___________________ (date). 
  2. Should Completion of the Buyer’s Property not be effected for any reason by the date specified above, then either party may terminate this Contract and all deposit monies paid by the Buyer will be refunded in full. 

Sunset Clause

Whilst this contract is conditional upon any special condition the Seller is entitled to continue to market this property and in the event the Seller receives another Contract for Sale by way of an offer to purchase which in the Sellers opinion is more favourable than this Contract, then the Seller is entitled to give notice in writing to the Buyer requesting the Buyer to make this Contract unconditional with respect to any special condition not yet satisfied. If the Buyer does not in writing make this Contract unconditional with respect to any special condition not yet satisfied within three (3) business days from the giving of the notice by the Seller then this Contract is at an end and the Deposit must be refunded in full to the Buyer. 

Subject to Prior Contract Terminating

  1. This Contract is subject to and conditional upon the termination of the Contract entered into between the Seller and ________________________________________ [insert other Buyer’s name] dated __________________________________ [insert date of other Contract] “the Prior Contract” within _____________ [insert number of days] days from the date of this Contract. 
  2. Should the Prior Contract not be terminated on or before ______________ [insert number of days] days from the date of this Contract, this Contract will be at an end and the Deposit must be refunded to the Buyer in full. 

Seller to clean property prior to settlement

The Seller and Buyer agree that on Settlement the Seller shall produce an exit clean report in form 14a of the Residential Tenancies and Rooming Accommodation Act 2008, Section 66, prepared by the Agent evidencing the property has been cleaned to “bond clean standard”. The term “bond clean standard” shall mean a standard of cleanliness and presentation which in the opinion of the agent presents the property fit for human habitation. In the event that the Seller does not produce an exit clean report in form 14a, the Buyer shall be entitled to terminate the Contract

Seller to obtain Swimming Pool Approval including Swimming Pool Fence Approval

This Contract is subject to and conditional on the Seller providing (at the Seller’s expense) a final inspection and local authority approval for the swimming pool including the swimming pool fence on the Property (the “Approvals”). In the event that the Seller has not obtained the Approvals, the Buyer can: 

  1. Terminate this Contract and the Deposit must be refunded in full to the Buyer; or 
  2. Require the Seller to do all necessary work, complete all necessary paperwork and pay all necessary fees to obtain the final inspection and local authority approval prior to Completion. 

The Seller acknowledges that this clause is for the benefit of the Buyer. 

Swimming Pool Fence not compliant

The Seller discloses to the Buyer the swimming pool on the Property may not have fencing which complies with the current legislative requirements. The Seller and Buyer agree the Buyer cannot terminate this Contract for any reason directly or indirectly related to the swimming pool  fence which fails to comply with current legislative requirements. 

Buyer acknowledges non approval

  1. The Seller disclosed non approval of ________________________ with the Local Council and the Buyer acknowledges the disclosure of the non approval.
  2. It is a condition of this contract the Buyer accepts the property with the non approval by the Local Council and the Buyer will not raise issue with the Seller in this regard, the Buyer will not claim from the Seller any compensation or rectification re the non approval.

Early Possession prior to Settlement

The Seller and Buyer agree the Buyer is granted early access and possession to the property ( or for example SHED) for the sole purpose of storing their furniture. Access and possession is granted by way of a licence and provides no tenancy or interest in the property. The licence to access and posses is personal to the Buyers only. The responsibility of insurance of the Buyers items is that of the Buyers and the Seller will not be liable for any loss or damage to the items.

Subject to Survey of boundaries

Notwithstanding the Standard Terms and Conditions of this Contract, this Contract is subject to and conditional on the Buyer, to their discretion, obtaining a satisfactory survey report within 21 days of the Contract date. In the event the Buyer is not satisfied with the results of the Survey report the Buyer may terminate this Contract by notice to the Seller or the Seller’s lawyer and the Contract will be at an end and all deposit monies will be refunded in full to the Buyer.

Subject to Council Approvals

This contract is subject to and conditional upon the Buyer being satisfied, prior to settlement, in the Buyers absolute discretion, all final inspections and local authority approvals have been obtained for all improvements to the property. In the event the Buyer is not satisfied all inspections and approvals have been obtained the Buyer may, at the Buyers discretion:-

  1. Terminate this contract by providing Notice to the Seller or the Seller’s lawyer the Contract to be at an end and the deposit must be fully refunded to the Buyer without deduction, alternatively
  2. Request the Seller to do all that is required to, in a proper and workmanlike manner, satisfactory to the Buyer at the Buyers absolute discretion, complete all necessary work to the property, paperwork and applications including paying all required application fees and penalties in order to obtain the necessary approvals as required by the Buyer. The Seller is obliged to allow the Buyer to inspect any work being done to the property and provide copies of all paperwork and application documents submitted to Council, including copies of any correspondence from Council and the ultimate results of the application to Council. In the event the Buyer is not satisfied with the work completed by the Seller or the result of the Council application the Buyer may terminate the contract by providing Notice to the Seller or the Seller’s lawyer the Contract to be at an end and the deposit must be fully refunded to the Buyer without deduction.

Subject to Family Law Property Settlement

This Contract is subject to and conditional upon the completion of the Buyer’s family law property settlement and the receipt of the settlement proceeds within 60 days from the date of this Contract. Should the Buyer not finalise the family law property settlement and receive the settlement proceeds within the stipulated time frame the Buyer may terminate this Contract by giving the Seller or the Seller’s lawyer notice the Contract is at an end and the Seller must refund the Deposit to the Buyer without deduction.

Subject to Asbestos Report

Notwithstanding the Standard Terms and Conditions of this Contract, this Contract is subject to and conditional on the Buyer, to their discretion, obtaining a satisfactory report from a registered asbestos inspector, within 21 days of the Contract date, in relation to the presence of any asbestos material located on the property. In the event the Buyer is not satisfied with the results of the Asbestos report the Buyer may terminate this Contract by notice to the Seller or the Seller’s lawyer and the Contract will be at an end and all deposit monies will be refunded in full to the Buyer.

Registration of Record of Death

  1. The Buyer acknowledges  the property hereby sold is presently registered in the name of a deceased person and the Sellers are the executors appointed under the Will of the Deceased.
  2. The Seller warrants that he/she is entitled to be registered as personal representative/devisee of the registered owner of the Property.
  3. This Contract is subject to the Seller successfully registering in the Department of Natural Resources, Mines and Energy a Transmission by Death form allowing the Seller to be registered as personal representative/ devisee of the registered owner (deceased) of the Property.
  4. The Settlement Date of this Contract is the later of: 
    (a) The Settlement Date stated in the Reference Schedule; or 
    (b) 7 days after the Seller advises the Buyer in writing the registration of the Transmission by Death is successful.
  5. If the registration of the Transmission by Death has not occurred within _____ days of the date of this Contract the Buyer can terminate the Contract and the Deposit will be refunded. 

Grant of Probate

  1. This Contract is subject to the Supreme Court granting Probate to the sellers as executors of the estate of theregistered proprietor within  __________ months of the date of this Contract. The sellers must use their best endeavours to obtain the grant of Probate as soon as possible and must provide updates to the Buyer’s solicitor upon reasonable requests. 
  2. Upon compliance with the aforementioned condition this sale is further subject to the successful registration of a Transfer of the property at the Department of Natural Resources, Mines and Energy in favour of the sellers as executors of the estate of the registered proprietor within 10 days of the date of  receiving the grant of Probate.  
  3. If the Transfer is not registered within the 10 day’s time period allowed the transaction will come to an end and the deposit will be refunded to the buyer and neither party will have any claim after that against the other apart from any rights either of the parties may have against the other as a result of any breach of this Contract.
  4. The date for completion will be the date which is _______ days after the date the buyer or the buyer’s solicitor receives written notice from the seller’s solicitors the Transfer referred to in paragraph 2 has been registered in the names of the sellers.” 

Foreign Investment Review Board - FIRB Approval

  1. The Buyer will apply (the Application) to the Foreign Investment Review Board (FIRB) for approval to purchase the property within 3 days of the Contract Date and will comply with all requests for further information and take all steps necessary to pursue the Application.  
  2. This Contract is subject to FIRB granting approval to this transaction. 
  3. In the event FIRB approval is not granted before the _______ day after the Contract Date then this Contract is at an end and the Deposit must be refunded to the Buyer. 
  4. The Buyer must notify the Seller of the result of the application to FIRB as soon as it is received.