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Special Conditions for Queensland

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Important Notes

We are making these special condition precedents available for Real Estate Agents in Queensland for insertion into property contracts at the request of the parties to the contract.

Please keep in mind that by law in Queensland, PAMDA licensees are not permitted to write special conditions for contracts, but can use precedent conditions that have been drafted by an Australian Legal Practitioner. It is important that you do not add to or alter these conditions other than to change a detail about the transaction that is the subject of the property contract or other document or to cross or leave out an alternative, or changing the grammatical form of words, of the addition or alteration.

These conditions may or may not be applicable in the particular circumstances of any given contract. We highly recommend that the parties to the contract have the contract reviewed by the legal adviser prior to signing. We do not warrant that these Special Conditions will be suitable for use in any or any specific situation and we do not warrant that these special conditions will not be considered unfair under consumer laws, or otherwise deemed unenforceable.

We don’t know whether you will use these precedents as intended, and are providing you access to them without charge. This means that we can not accept any liability for any loss or damage, financial or otherwise, suffered by any person acting or relying on the conditions.

Interested in getting a quote? Get a quote now

Access Prior to Settlement for Renovations
Acknowledgement of Flooding
Apply the Margin Scheme - Buyer
Apply the Margin Scheme - Seller
Conversion to Freehold
Deposit by Deposit Bond or Bank Guarantee
Deposit Insufficient to Cover Agent Commission
Disclosure of Non Approved Building Works (eg pergola)
Encumbrances
Land Sales Act Exemption
No Body Corporate
Owner builder clauses
Pool Fence Not Satisfactory
Property at Seller's Risk until Settlement Date
Repairs Prior to Settlement
Settlement Date when Subject to Transmission
Buyer Completing Prior Contract
All Finals Being Issued
Subject to Body Corporate Inspection
Buyer and Seller Entering Tenancy Agreement
Buyer Entering Contract of Sale
Completion of Lot
Due Diligence
Finals Being Issued - Buyer Choice
FIRB Approval
Flooding
Provision of Copies of Finals
Satisfactory Pool Fence
Satisfactory Present Use
Satisfactory Searches
Soil Test
Survey
Termination of Prior Contract
Completion of Dwelling
Transmission
Valuation
Sunset Clause
Time for Acceptance
Visual Inspection of Property
Facsimile Transmission
Pool Safety Certificate Not Required Prior to Settlement for REIQ House and Land 8th Edition Contract
Pool Safety to be Obtained and Paid For By the Seller for REIQ House and Land 8th Edition
Existing Registered and Unregistered Title Encumbrances
No Objections by Buyer Regarding Approvals, Certifications, Inspections or Requirements of Authorities
Property Accepted As Is (Building & Pest Does Not Apply)
Property Sold and Accepted “As Is, Where Is” – No Objections by Buyer
Deposit To Be Released Prior to Settlement
Penalty if Finance Condition Not Satisfied
Vacant Possession
Vacant Possession – Seller to End Existing Lease Early
Access Prior to Settlement for Storage of Goods
Possession Prior to Settlement

Access Prior to Settlement for Renovations

The Seller hereby agrees to allow reasonable access for the Buyer and appropriate tradespeople to the Lot for the purpose of obtaining quotes to conduct renovations to the Lot (hereinafter referred to as "the work").

Once this contract becomes unconditional the Seller agrees to allow access to the Lot so the work can be commenced. The work must be conducted in a satisfactory and workmanlike manner by appropriately qualified and/or licensed tradespeople.

The Buyer hereby agrees to pay all costs for the work being conducted. In the event that settlement does not occur, through no fault of the Seller, the Buyer agrees to pay all the costs to ensure the work is completed in a satisfactory and workmanlike manner and hereby indemnifies the Seller against any costs, damages or other liability caused by the work.

The Buyer hereby agrees that they must take out 'appropriate' insurance to the Seller's satisfaction.

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Acknowledgement of Flooding

The Buyer acknowledges that he has been advised by the Seller's agent that the property herein sold has been flood affected in the past and that the Buyer is relying on the Buyer's own judgment in entering into this contract and shall not raise any requisition or objection to the title of the Seller or in pursuance of any other condition of this contract in respect of the fact that the property has been flood affected.

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Apply the Margin Scheme - Buyer

The Purchase Price is inclusive of GST and the Seller cannot claim any extra amount from the Buyer in respect of GST. The Buyer acknowledges that the Seller may use the margin scheme under Division 75 of the GST Act to calculate the GST payable by the Seller in respect of the Purchase Price.

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Apply the Margin Scheme - Seller

The Seller elects to apply the Margin Scheme under Division 75 of the GST Act to calculate the GST payable by the Seller in respect of the Purchase Price.

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Conversion to Freehold

This contract is subject to and conditional upon the Buyer receiving satisfactory advices from the Department of Natural Resources Mines & Energy ("the Department") on or before the Settlement Date as to the eligibility, conversion payout and costs to convert the leasehold interest in the Land to an estate in fee simple. In the event the Buyer is not satisfied, the Buyer may terminate this contract pursuant to this clause and in which event all deposit and other moneys received by the Seller or Deposit Holder on account of the purchase price shall be refunded to the Buyer by the Seller or Deposit Holder as the case may be. This clause is inserted for the sole benefit of the Buyer herein who may waive the benefit of this Clause by prior written notice given pursuant to this Clause. The Seller authorises the Department to supply such information as may be requested by the Buyer and the Seller agrees to provide such further authority in writing as may be reasonably required by the Department or the Buyer.

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Deposit by Deposit Bond or Bank Guarantee

  1. Notwithstanding anything to the contrary contained herein, the Buyer and Seller hereby agree that the Deposit may be paid by way of Deposit Bond or Bank Guarantee.
  2. On settlement, the Buyer will pay the Deposit to the Seller and the Deposit Holder will return by Deposit Bond or Bank Guarantee to the Buyer.
  3. The Buyer must not take any action or cause the Deposit Bond or Bank Guarantee to be withdrawn, revoked, cancelled or limited in any way prior to settlement in which event the Buyer will be in breach of the Contract.

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Deposit Insufficient to Cover Agent Commission

The Seller acknowledges the Deposit held by the Deposit Holder is insufficient to cover the Agent's commission and hereby irrevocably authorises and directs the Buyer's solicitor to draw a separate cheque at settlement to cover the Agent's commission less any Deposit held by the Deposit Holder

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Disclosure of Non Approved Building Works (eg pergola)

  1. The Buyer acknowledges that the improvements on the Land include a (insert structure) which has been erected on the subject property without Local Government Approval.
  2. The Buyer agrees not to make any requisition, objection or claim in relation to the existence of the (insert structure) and agrees that Clause 7.6 of the Terms of Contract for Houses and Land does not apply to the (insert structure).

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Encumbrances

Any encumbrance relating to water, sewage, drainage, electricity or any other service which in any way affects the land whether such encumbrance is registered, unregistered or resulting from any other statute.

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Land Sales Act Exemption

  1. This Contract is subject to the Chief Executive of the appropriate State Government Department ("the Registrar") granting an exemption for this transaction under Section 19 of the Land Sales Act 1984.
  2. The seller must forthwith upon formation of this agreement make application for such exemption and do everything reasonably necessary to obtain the exemption. The seller must notify the buyer of the decision of the Registrar forthwith upon receipt of that decision.
  3. The buyer must join in and consent to the application and sign all documents and do everything reasonably necessary for the purpose of the application.
  4. The seller will pay all costs associated with the application for exemption.
  5. In the event that the application for exemption is refused or is not determined on or before ninety (90) days from the date of this Contract then this Contract will be at an end, the deposit refunded to the buyer and this sale will be at an end apart from any rights either of the parties will have against the other as a result of any breach of this Contract.
  6. If at any time during the ninety (90) day period the Local Authority seals the attached plan then this Contract will become unconditional with regard to this special condition.

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No Body Corporate

The Buyer hereby acknowledges that there is not a fully operational and functional Body Corporate for the Scheme, nor are there proper insurances or an Administrative Fund and Sinking Fund established for the Scheme. The Buyer further acknowledges that despite anything to the contrary contained herein the Buyer can not for any reason related to, or as a direct or indirect result of the lack of a fully operational and functional Body Corporate, or lack of insurance, or lack of Administrative Fund or Sinking Fund terminate this contract.

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Owner builder clauses

Please contact us for information on the standard disclosure that is required when there is an owner builder.

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Pool Fence Not Satisfactory

The Buyer hereby acknowledges by the signing of this contact that the swimming pool located on the property may not have fencing or swimming pool security that complies with all current legislative requirements. The Buyer further acknowledges that, notwithstanding anything to the contrary contained herein, that the Buyer can not terminate this contract for any reason directly or indirectly related to or associated with the lack of pool fencing or swimming pool security or fencing or security that fails to comply with current legislative requirements.

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Property at Seller's Risk until Settlement Date

Notwithstanding the provisions of Clause 8.1 of the Terms of Contract for Houses and Land, the Seller and Buyer hereby agree that the property shall be at the Seller's risk up to and until completion of the Contract.

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Repairs Prior to Settlement

This contract is subject to and conditional on the seller repairing at his/her/their expense, the (insert as applicable) in the property to full and complete working order prior to settlement. In the event that the (insert) is not repaired to the full satisfaction of the Buyer prior to settlement, then the Buyer shall be able to deduct a sum of money from the Purchase Price for the repairs to the (insert). The sum to be deducted from the Purchase Price shall be calculated by the Buyer obtaining a quote from a qualified and/or licensed repairer of their choice.

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Settlement Date when Subject to Transmission

Settlement of this contract shall be effected on, whichever is the later of

  1. 14 days from the Buyer receiving written notification from the Seller that the property is registered in the name of (insert); or
  2. 45 days from the contract date.

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Buyer Completing Prior Contract

This contract is subject to and conditional on the Buyer completing the Contract of Sale for (insert street address of property) dated (insert date of contract) made between (insert name of seller) as Seller and (insert name of Buyer) as Buyer (hereinafter referred to as the "prior contract") prior to settlement of this contract. In the event that the prior contract does not complete then the Buyer may terminate this contract by notice to the Seller and this contract shall be at an end and all deposit monies shall be refunded in full to the Buyer.

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All Finals Being Issued

This contract is subject to and conditional upon the Buyer being satisfied prior to settlement, in the Buyer's absolute discretion, that all final inspections and local authority approvals have been obtained for all the Improvements on the Property. In the event that the Buyer is not so satisfied, the Buyer may terminate this contract by notice, given in accordance with the Terms of Contract, to the Seller and this contract shall be at an end and the Deposit must be promptly refunded to the Buyer without deduction.

The Seller acknowledges that this special condition is for the benefit of the Buyer only and may only be waived or exercised by the Buyer.

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Subject to Body Corporate Inspection

This contract is subject to and conditional on the Buyer being satisfied in their absolute discretion with the results of a body corporate records inspection to be conducted by the Buyer within 21 days from the contract date. In the event that the Buyer is not so satisfied the Buyer may give notice to the Seller terminating this contract and the contract shall be at an end and the Deposit shall be refunded in full to the Buyer. The Seller hereby acknowledges that this special condition is for the benefit of the Buyer only.

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Buyer and Seller Entering Tenancy Agreement

This contract is subject to and conditional on the Buyer entering into a Residential Tenancy Agreement pursuant to the Residential Tenancy Act, as landlord, with insert name as tenant, prior to Settlement. The Buyer and Seller hereby acknowledge that it is the intention of the parties that the Residential Tenancies Act will apply to this Residential Tenancy Agreement.

The Residential Tenancy Agreement is to include the following terms and conditions:

That the rent payable is for ($insert) per week
That there is a bond for the sum of ($insert)
That the agreement is for a 6 month period.

In the event that the Residential Tenancy Agreement is not signed prior to Settlement then the Seller may elect to terminate this contract and all the Deposit shall be refunded to the Buyer.

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Buyer Entering Contract of Sale

1.1

This contract is subject to and conditional upon the Buyer entering into a contract, on terms satisfactory to the Buyer, for the sale the Buyer's property at (insert street address of property) in the State of Queensland by 5.00pm on (insert date) (hereinafter referred to as "the prior sale"). In the event that the Buyer does not enter into a prior sale, the Buyer may terminate this Contract by notice to the Seller given in accordance with the Terms of Contract, and this Contract shall be at an end and the Deposit must be promptly refunded without deduction.

1.2

In the event that special condition 1.1 is satisfied, then this contract is also subject to and conditional upon the settlement of the prior sale before settlement of this contract. In the event that the prior sale does not settle for any reason, the Buyer may terminate by notice to the Seller given in accordance with the Terms of Contract, and this contract shall be at an end and the Deposit must be promptly refunded without deduction.

1.3

The Seller hereby acknowledges that this special condition is for the benefit of the Buyer only and can only be waived or exercised by the Buyer.

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Completion of Lot

  1.  
    1. The Seller must complete construction of the Lot in accordance with this contract and the requirements of all relevant laws.
    2. The area and dimensions of the Lot must be substantially in accordance with the plans. The Buyer cannot object to any deviation between the area and the dimensions of the Lot described in the plans and the area and dimensions of the Lot as built, if the deviation does not materially prejudice the buyer.
    3. The Lot must include the finishes specified in the contract.
    4. The Seller may select an alternative finish, at its discretion, but it must be of a similar quality.
    5. The Seller will rectify within (insert number of months) months of Settlement, any defects in the Lot due to defective materials or workmanship, which are notified to the Seller in writing within (insert number of months)1 month of Settlement. The Buyer must give the Seller reasonable access to the Lot for doing rectification work.
  2. Despite anything to the contrary contained herein, the Lot shall be at the risk of the Seller until settlement.

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Due Diligence

  1. This contract is subject to and conditional upon the Buyer completing within (insert number of days) from the contract date a due diligence investigation of the Property. In the event that the results of the due diligence investigation are not satisfactory to the Buyer in the Buyer's absolute discretion, the Buyer may terminate this contract by notice, given in accordance with the terms of Contract, to the Seller and this c ontract shall be at an end and the Deposit must be promptly refunded to the Buyer.
  2. The Seller will allow the Buyer and their consultants, agents and invitees access to the Property for the purpose of conducting the due diligence investigation.
  3. The Seller acknowledges that this Special Condition is for the benefit of the Buyer and may only be waived or exercised by the Buyer.

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Finals Being Issued - Buyer Choice

This contract is subject to and conditional upon the Buyer being satisfied prior to Settlement, in the Buyer's absolute discretion, that all final inspections and local authority approvals have been obtained for all the improvements on the Property. In the event that the Buyer is not so satisfied, the Buyer may, at the Buyer's election;

  1. terminate this contract by notice, given in accordance with the Terms of Contract, to the Seller and the contract shall be at an end and the deposit must be promptly refunded to the Buyer without deduction; OR
  2. require the Seller to do all necessary works in a proper and workmanlike manner, in a manner satisfactory to the Buyer in the Buyer's absolute discretion, complete all necessary paperwork and pay all fees and obtain all such final inspections and local authority approvals for all improvements on the Property prior to Settlement. In the event that the Buyer is not so satisfied with the works, then the Buyer may terminate this contract and the contract shall be at an end without default and the deposit must be promptly refunded to the Buyer without deduction.

The Seller hereby acknowledges that this special condition is for the benefit of the Buyer only and may only be waived or exercised by the Buyer

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FIRB Approval

  1. This Contract is subject to the Foreign Investment Review Board (hereinafter called "F.I.R.B.") granting approval to this transaction.
  2. The Buyer shall forthwith apply to the F.I.R.B. for approval and use his best endeavours to obtain such approval.
  3. In the event that such approval is not granted before the insert date then this Contract shall be at an end and all moneys paid by the Buyer shall be refunded in full.
  4. The Buyer agrees that immediately upon his becoming aware of the result of his application to the F.I.R.B. he shall advise the Seller of such result.

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Flooding

This contract is subject to and conditional on the Buyer being satisfied prior to settlement in their absolute discretion that the Property has no history of flooding or is not at risk of flooding prior to Settlement. In the event that the Buyer establishes that the Property has a history of flooding or is at risk of flooding in the future then the Buyer may terminate this contract by notice, given in accordance with the Terms of Contract, to the Seller and this contract shall be at an end and the deposit must be promptly refunded to the Buyer without deduction.

The Seller acknowledges that this special condition is for the benefit of the Buyer and may only be waived or exercised by the Buyer.

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Provision of Copies of Finals

This contract is subject to and conditional on the Seller providing to the Buyer copies of all building inspection reports, final certificates and local authority approvals for all Improvements on the Property (hereinafter referred to as the "documents") prior to settlement. In the event that the Seller does not provide the documents prior to Settlement, or the documents are not satisfactory to the Buyer, in the Buyer's absolute discretion, the Buyer may terminate this contract by notice, given in accordance with the Terms of Contract, to the Seller and this contract shall be at an end and the Deposit must be promptly refunded to the Buyer without deduction. The Seller acknowledges that this special condition is for the benefit of the Buyer only and may only be waived or exercised by the Buyer.

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Satisfactory Pool Fence

This contract is subject to and conditional on the Buyer being satisfied prior to Settlement, in the Buyer's absolute discretion, that all final inspections and local authority approvals have been obtained for the swimming pool and swimming pool fence on the Property. In the event that the Buyer is not satisfied, the Buyer may, at the Buyer's election,

1.

1. terminate this contract by notice to Seller and the contract shall be at an end and all the Deposit shall be refunded in full to the Buyer; OR

2.

require the Seller to do all necessary works, complete all necessary paperwork and pay all fees to obtain all such final inspections and local authority approvals prior to Settlement.

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

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Satisfactory Present Use

This contract is subject to and conditional on the Buyer being satisfied, that the planning scheme area in which the Property is located allows for the Present Use, prior to settlement. In the event that the Buyer is not satisfied in their absolute discretion with the planning scheme area, then the Buyer may terminate this contract by notice to the Seller and this contract shall be at an end and all deposit monies shall be refunded in full to the Buyer.

The Seller hereby acknowledges that this special condition is for the benefit of the Buyer only and may only be waived or exercised by the Buyer.

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Satisfactory Searches

This contract is subject to and conditional upon the Buyer being satisfied in the Buyer's absolute discretion with the results of searches to be conducted by the Buyer on the Property prior to settlement. In the event that the Buyer is not satisfied with the results of the searches, the Buyer may terminate this contract by notice, given in accordance with the Terms of Contract, to the Seller and this contract shall be at an end and the Deposit must be promptly refunded to the Buyer without deduction.

The Seller acknowledges that this special condition is for the benefit of the Buyer and may only be waived or exercised by the Buyer.

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Soil Test

  1. This contract is subject to and conditional upon the Buyer being satisfied in the Buyer's absolute discretion with the results of the soil test to be conducted, by the Buyer, on the Property, within 14 days from the contract date. If the Buyer is not satisfied, the Buyer may terminate this contract by notice, given in accordance with the Terms of the Contract, to the Seller and this contract shall be at an end and the Deposit must be promptly refunded to the Buyer without deduction.
  2. The Seller hereby authorises the Buyer and its consultants to enter the Property for the purpose of conducting the soil test.
  3. The Seller acknowledges that this special condition is for the benefit of the Buyer and may only be waived or exercised by the Buyer.

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Survey

Notwithstanding anything to the contrary contained herein, this contract is subject to and conditional on the Buyer being satisfied, in their absolute discretion, with the results of a survey of the Property within 21 days of the contract date. In the event that the Buyer is not so satisfied, the Buyer may terminate this contract by notice to the Seller and the contract shall be at an end and all deposit monies shall be refunded in full to the Buyer

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Termination of Prior Contract

This contract is subject to and conditional on the contract for the sale of (insert street address of property) between (insert name) as Seller and (insert name) as Buyer (hereinafter referred to as "the prior contact") being terminated by 5.00 pm on (insert date). In the event that the prior contract is not so terminated then the Seller must notify the Buyer in writing and this contract shall be at an end and the Deposit shall be refunded forthwith to the Buyer.

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Completion of Dwelling

  1. Despite anything to the contrary contained herein, the Property shall be at the risk of the Seller until Settlement.
  2. This contract is subject to and conditional upon the Buyer being satisfied, in the Buyer's absolute discretion, prior to Settlement with all Improvements constructed on the Land. In the event that the Buyer is not so satisfied then the Buyer may terminate this contract by notice given in accordance with the terms of Contract and this contract shall be at an end and the Deposit shall be refunded forthwith to the Buyer. The Seller hereby acknowledges that this special condition is for the benefit of the Buyer only.
  3. This contract is subject to and conditional upon the Buyer receiving prior to Settlement a copy of all final local authority approvals for the Improvements constructed on the Land. In the event that the Buyer does not receive a copy of the said approvals then the Buyer may terminate this contract by notice given in accordance with the Terms of Contract and this contract shall be at an end and the Deposit shall be refunded forthwith to the Buyer. The Seller hereby acknowledges that this special condition is for the benefit of the Buyer only.

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Transmission

This contract is subject to and conditional upon the registration of the Request to Record Death of (insert name) in the Department of Natural Resources, Mines and Energy prior to (insert date), then the Buyer or Seller may terminate this contract by notice given in accordance with the Terms of Contract, and this contract shall be at an end and the Deposit must be promptly refunded to the Buyer without deduction.

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Valuation

This contract is subject to and conditional on the Buyer being satisfied in their absolute discretion with an independent valuation of the Property to be arranged by the buyer. In the event that this valuation is not satisfactory in every aspect to the Buyer then the Buyer may terminate this contract by written notice to the Seller and this contract shall be at an end and the Deposit shall be refunded promptly and in full to the Buyer.

The Buyer and Seller hereby acknowledge that this special condition is for the benefit of the Buyer and can be waived or exercised by the Buyer only.

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Sunset Clause

  1. The Buyer acknowledges that, despite the existence of this contract, the Seller will continue to offer this property for sale.
  2. In the event that the Seller signs a contract on terms more acceptable to the Seller in the Seller's absolute discretion, than this contract, prior to (insert eg the finance approval date); then the Seller shall give written notice (hereinafter referred to as the "Notice of Better Offer") of this to the Buyer.
  3. If the Buyer does not give notice in writing to the Seller within 72 hours of receiving the Notice of Better Offer, that the Buyer will proceed unconditionally with the settlement of this contract, then this contract shall be at an end and all deposit monies shall be refunded to the Buyer.

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Time for Acceptance

This offer may be accepted by the Sellers signing and returning the contract to the Buyer prior to 5.00 pm on (insert date). If not accepted by then, this offer is deemed to have been withdrawn.

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Visual Inspection of Property

This Contract is subject to and conditional upon the Purchaser on or before 7 days from the date of the Contract being satisfied with a visual inspection of the property. If the Purchaser is not satisfied, then the Contract will be at an end and the full deposit will be released to the Purchaser.

The parties agree that this clause is inserted for the benefit of the Buyer and Buyer may waive the benefit of the provision at any time on or before the date stipulated by giving to the Seller notice in writing.

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Facsimile Transmission

This contract may be entered into by and becomes binding on the parties named in the contract upon one party signing the contract that has been signed by the other party (or a photocopy or facsimile of that contract) and transmitting a facsimile copy of it to the other party or the other party's agent or solicitor.

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Pool Safety Certificate Not Required Prior to Settlement for REIQ House and Land 8th Edition Contract

Clause 4.7 and Clause 5.3(1)(e) of the Terms of Contract do not apply. The Buyer and Seller agree that this contract is not subject to a Pool Safety Certificate being obtained prior to settlement. The Buyer acknowledges and agrees that they will be liable for any costs (which may be significant) that may be incurred in obtaining a Pool Safety Certificate as required by the Building Act 1975. The Seller must still provide a Notice of No Pool Safety Certificate to the Buyer as required by the Building Act 1975. The Buyer may not terminate this Contract due to there being no Pool Safety Certificate in effect for this property.

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Pool Safety to be Obtained and Paid For By the Seller for REIQ House and Land 8th Edition

Clause 4.7 and Clause 5.3(1)(e) of the Terms of Contract do not apply. If there is no current Pool Safety Certificate, the Seller must provide a Notice of No Pool Safety Certificate to the Buyer as and when required by the Building Act 1975. Notwithstanding this, the Buyer requires that the Seller obtains, pays for and provides to the Buyer a current Pool Safety Certificate prior to Settlement. In the event that the Seller is unable to provide a current Pool Safety Certificate prior to Settlement, the Buyer may terminate this Contract by Notice given in accordance with the Terms of Contract to the Seller and this Contract shall be at an end and the Deposit must be promptly refunded to the Buyer without deduction. The Seller acknowledges that this special condition is for the benefit of the Buyer only and may only be waived or exercised by the Buyer.

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Existing Registered and Unregistered Title Encumbrances

Irrespective of whether the Reference Schedule of this contract has been completed to include reference to any encumbrance (including administrative advices or notices), the buyer agrees to accept the property with all title encumbrances (including administrative advices or notices) registered or unregistered with the exception of any mortgage, writ or caveat (which must be released at or by settlement). The buyer warrants that it has satisfied itself in relation to any such encumbrance (or administrative advice or notice) and will make no objection or claim against the seller or any related party in relation to any such encumbrance (or administrative advice).

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No Objections by Buyer Regarding Approvals, Certifications, Inspections or Requirements of Authorities

The Buyer has made their own enquiries, or does not wish to undertake any enquiries in relation to any outstanding requisitions, notices, approvals, certifications, inspections or requirements of any kind by any competent authority and therefore agrees with the Seller that the Buyer will not be permitted to make any objection or claim or deliver any requisition to the Seller for any such requisition, notice, approval, certification, inspection or requirement of any kind regardless of whether raised before, on or after the Contract Date.

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Property Accepted As Is (Building & Pest Does Not Apply)

The Buyer has relied upon its own prior judgment and investigations when entering into this contract, and therefore agrees that Clause 4 of this REIQ contract does not apply and accordingly the Buyer may not terminate this contract or make any claim against the Seller in relation to:

  1. any building defects of any kind;
  2. any pest infestation or risk of infestation of any kind;
  3. any inadequacy of any kind in relation to pool safety;
  4. any requirement of any competent authority in relation to the property in any way including all of the matters referred to in sub-points a) to c).

Further, the Buyer acknowledges and the Seller states that without this assurance, the Seller would not have agreed to enter into this contract.

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Property Sold and Accepted “As Is, Where Is” – No Objections by Buyer

This property is sold by the Seller and accepted by the Buyer on an “As Is, Where Is” basis. The buyer has relied upon their own investigations and judgement in assessing:

  1. the condition of the property;
  2. the location of the property (including but not limited to any and all encroachments and / or misdescriptions);
  3. the encumbrances on the title (with the exception of any mortgage, writ or caveat which must be released at or by settlement); and
  4. the requirements of any competent authority;

and hereby waives any right they may have under the Contract or otherwise to terminate this contract or to claim compensation from the seller or any related party in connection with the abovementioned matters.

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Deposit To Be Released Prior to Settlement

Both the Buyer and the Seller agree that [$INSERT] of the deposit in this matter will be released to the seller prior to settlement after [DATE/condition is satisfied/is unconditional with respect to finance and buyer’s inspections] at the direction the the parties’ solicitors and on the following terms:

  1. the parties do not intend to for this contract to take on any of the features of an Instalment Contract, and therefore the amount of the deposit (including any additional deposit) released under this Special Condition remains refundable to the Buyer in all circumstances in which it would have been required to be refunded to the Buyer if not for this special condition;
  2. if, after its release, the deposit (including any additional deposit) becomes refundable to the Buyer, the Seller will, from the date on which the Buyer gives a valid notice to refund the deposit, be allowed [30/90/120] days in which to refund the deposit (including any additional deposit) to the Buyer as a single payment or otherwise and no interest can be charged by the Buyer on this amount;
  3. to avoid doubt, the deposit (including any additional deposit) in all cases remains payable:
    1. to the Buyer in the event of the Seller’s breach of contract; and
    2. to the Seller in the event of the Buyer’s breach of contract;
  4. if for any reason, it is unlawful for the deposit holder to release funds from the deposit, the Buyer agrees to pay an additional deposit of [$INSERT] directly to the Seller.
  5. The buyer understands that this may cause the total amount of the deposit to be [$INSERT – original deposit amounts + additional deposit amount (which must not exceed 10% of the purchase price)].

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Penalty if Finance Condition Not Satisfied

In the event that the Buyer advises the Seller that the Buyer terminates the contract due to the Buyer’s failure to obtain satisfactory finance approval, the Seller is entitled, as their only remedy, to retain [$INSERT] of the deposit. To the extent that this Special Condition is inconsistent with Clause 3 of this REIQ contract, then this Special Condition prevails.

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Vacant Possession

The Contract is not subject to any tenancies, and accordingly the Seller will provide the Buyer with vacant possession upon settlement. If the Seller can not provide the buyer with vacant possession upon settlement then the Buyer may:

  1. erminate this Contract by giving the Seller notice in accordance with the terms of the contract. This is the Buyer’s only remedy when terminating due to the Seller’s failure to provide vacant possession.
  2. b) elect to proceed with this Contract and claim compensation from the Seller for loss or damage they suffer as a result of not being provided with vacant possession. The right to claim compensation is preserved despite settlement of this contract.

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Vacant Possession - Seller to End Existing Lease Early

  1. As disclosed in the relevant section of the Reference Schedule of this contract, there are tenants currently in the property with a lease that continues beyond the Settlement Date, however the Buyer has entered this contract requiring vacant possession upon settlement.
  2. As the existing tenancy continues beyond the Settlement Date, the Seller has agreed to use their best endeavours to bring the tenancy to an end before settlement.
  3. The Seller has contemplated that there may be costs to them in attempting to bring the tenancy to an end before settlement and accepts these costs as their own to bear.
  4. If the Seller can not provide the buyer with vacant possession upon settlement despite using their best endeavours and being prepared to incur reasonable costs in doing so, then the Seller may elect to either:
    1. terminate this Contract by giving the Buyer notice in accordance with the terms of the contract and must refund all deposits paid to the Buyer. Neither party will have further rights against the other;
    2. proceed with this Contract in which case there must be a reduction in the settlement figures in the amount of [$INSERT] in the Buyer’s favour. This will then be the only remedy that the Buyer has in relation to any loss or damage they suffer as a result of not being provided with vacant possession.
  5. The rights of the seller in sub-clause 4 above, are subject to the Buyer having the option (if the Seller can not provide the buyer with vacant possession upon settlement), to terminate the contract by giving the Seller notice in accordance with the terms of the contract. If the Buyer terminates the contract on this basis, the deposit must be refunded to the Buyer and neither party will have further rights against the other.

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Access Prior to Settlement for Storage of Goods

The Buyer has requested and the Seller has agreed to allow the Buyer and their reasonably necessary invitees access to the property prior to settlement [on DATE] to store goods [at the property / inside the dwelling / shed only / garage only / etc]. This access is granted on the same terms as those in Clause 8.5 of this REIQ Contract with the following additions and modifications:

  1. the access granted specifically excludes the Buyer or their invitees from staying in the property outside the hours of [INSERT (eg 8:00AM to 6:00PM)]
  2. all goods stored by the Buyer at the property are stored at the sole risk of the Buyer;
  3. ownership of the goods remains at all times with the Buyer;
  4. if settlement does not occur the Seller will allow the Buyer [7/14] days from the termination of the contract in which remove the items from the property and will provide the Buyer and their reasonably necessary invitees further access to the property upon reasonable notice for the purpose of removing these items from the property.
  5. the Buyer will provide a copy of the relevant Certificate of Currency for the insurance to the Seller prior to possession being permitted;
  6. the Buyer indemnifies the Seller against any and all loss, damage, action, claims, suits or demands arising from or through or in connection with the access to the property and in particular that which might arise as a result of the injury or death to any person occurring during the access.

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Possession Prior to Settlement

The Buyer has requested and the Seller has agreed to allow the Buyer to enter into possession of the property from [DATE] (the date of possession) in accordance with Clause 8.5 of this REIQ Contract with the following additions and modifications:

  1. the Buyer will provide a copy of the relevant Certificate of Currency for the insurance to the Seller prior to possession being permitted;
  2. the Buyer indemnifies the Seller against any and all loss, damage, action, claims, suits or demands arising from or through or in connection with the possession of the property and in particular that which might arise as a result of the injury or death to any person occurring from the time of possession;
  3. by taking possession, the Buyer accepts the property “as is” and:
    1. will not be entitled to raise any further objections in relation to the condition of the property or in relation to any approvals, certifications, or other requirements of authorities which may or may not exist;
    2. waives any rights they may have:
      1. in relation to any undisclosed encumbrance; and
      2. under Clause 7.7 of this REIQ contract; and
      3. in relation to any other breach by the Seller prior to the date of possession;

if settlement does not occur the Seller will allow the Buyer [7/14] days from the termination of the contract in which remove their possessions from the property and will provide the Buyer and their reasonably necessary invitees further access to the property upon reasonable notice for the purpose of removing these items from the property.