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BLACK = Old Item/Clause | RED = New Item/Clause | BLUE = Comments About Change (Not Part of Form) | STRIKEOUT = Wording Deleted
09 Nov 2023
Property Inspections - Right of Termination Limited (Unsatisfactory Report)
The Buyer's right to terminate this Contract, pursuant to Clause 4.4(2) of the Terms and Conditions, is subject to the following provisions:
| 1. | The building inspection report may only be deemed unsatisfactory if the report identifies structural defects. |
| 2. | A structural defect is a single defect to the property where the cost of rectifying which exceeds $<<Enter Amount Here>>. |
| 3. | Failing agreement between the parties as to the cost referred to in Subclause 2 of this Special Condition, satisfactory quotations establishing rectification cost must be obtained from a suitably licensed builder or tradesperson. |
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Termination of Prior Contract (see Sunset Clause)
| 1. | The Buyer acknowledges that the Seller is currently a party to a binding and enforceable contract for the sale of the Property with <<Insert Name of the Prior Buyer Here>> ('the Prior Contract'). |
| 2. | The Prior Contract contains a condition allowing the Seller to terminate the Prior Contract if the Buyer in the Prior Contract does not make that contract unconditional upon receiving notice that the Seller has entered into another contract on more favourable terms than the Prior Contract. (the 'Sunset Clause'). |
| 3. | The Seller must invoke the provisions of the Sunset Clause forthwith on the execution of this Contract. |
| 4. | This Contract is subject to the valid termination of the Prior Contract on or by the <<Enter Termination Date Here>> ('the Prior Contract Termination Date'). |
| 5. | If the Prior Contract is not terminated by the Prior Contract Termination Date, either party may terminate this Contract by notice in writing to the other, in which case this Contract will be at an end and the Deposit refunded to the Buyer. |
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Sunset Clause - New Settlement Date (see Termination of Prior Contract Clause)
| 1. | The parties agree, if the Seller receives an offer to purchase the property, in the form of a written contract (‘Alternative Contract’) that is on terms more favourable to the Seller than this Contract, then the Seller must forthwith provide to the Buyer's Solicitor a copy of the Alternative Contract. |
| 2. | Should the Buyer, within <<Enter Number of Days Here>> Business Days of provision of the Alternative Contract as provided in Clause 1 of this Special Condition, not notify the Seller's Solicitor in writing that this Contract is unconditional in all regards, the Seller may terminate this Contract by notice in writing to the Buyer. |
| 3. | If this Contract is terminated under Clause 2 of this Special Condition, the Deposit must be refunded to the Buyer. |
| 4. | Where the Buyer notifies the Seller in accordance with Clause 2 of this Special Condition that this Contract is unconditional, Settlement will take place <<Enter Number of Days Here>> days from receipt by the Buyer of such written notification. |
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Sunset Clause - Existing Settlement Date (see Termination of Prior Contract Clause)
| 1. | The parties agree, if the Seller receives an offer to purchase the property, in the form of a written contract (‘Alternative Contract’) that is on terms more favourable to the Seller than this Contract, then the Seller must forthwith provide to the Buyer's Solicitor a copy of the Alternative Contract. |
| 2. | Should the Buyer, within <<Enter Number of Days Here>> Business Days of provision of the Alternative Contract as provided in Clause 1 of this Special Condition hereof, not notify the Seller's Solicitor in writing that this Contract is unconditional in all regards, the Seller may terminate this Contract by notice in writing to the Buyer. |
| 3. | If this Contract is terminated under Clause 2 of this Special Condition, the Deposit must be refunded to the Buyer. |
| 4. | Where the Buyer notifies the Seller in accordance with Clause 2 of this Special Condition that this Contract is unconditional, Settlement will take place on the Settlement Date as originally set out in Item 12 of the Item Schedule. |
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06 Aug 2019
Gold Coast Local Law 17 Disclosure
1.
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Gold Coast Local Law 17, s15(2) applies to this Sales Contract. The prescribed works to which s15(2) apply are as follows:
Works Details:<<Insert Details of Prescribed Works Here>>
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2.
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Until Settlement it is the Seller’s responsibility to ensure the responsible person at the responsible persons cost maintains, at the Land Owner's cost, the works must be maintained in a safe condition and good working order, repair and condition, so that the prescribed work can continue to perform its intended function. Notices in respect of the prescribed works, if any, are detailed in Item 20 of the Item Schedule.
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3.
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Outstanding Notices in respect of the prescribed works, if any, are detailed in Item 20 of the Item Schedule.
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Prior Contract and Stamped Transfer
2.
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In accordance with Clause 12.3(7) addition to documents required to be delivered in accordance with Clause 12.3 of the Terms and Conditions, the Seller will deliver to the Buyer at Settlement, an executed prior stamped transfer capable of immediate registration, free from other than notified Encumbrances in favour of the Seller, which prior transfer will enable the Seller to become registered as proprietor of the Property.
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All other Clauses of this Special Condition remain unchanged.
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Prior Stamped Transfer
2.
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In accordance with Clause 12.3(7) addition to documents required to be delivered in accordance with Clause 12.3 of the Terms and Conditions, the Seller will deliver to the Buyer at Settlement, an executed prior stamped transfer capable of immediate registration, free from other than notified Encumbrances in favour of the Seller, which prior transfer will enable the Seller to become registered as proprietor of the Property.
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All other Clauses of this Special Condition remain unchanged.
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Seller's Possession After Settlement (No Rental Charged)
Notwithstanding the provisions of Clause 12.3(98) of the Terms and Conditions:
1.
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The Buyer and Seller agree the Seller may remain in occupation of the property after Settlement for a period ending no later than 5pm on the <<Enter the Day of the Month Here>> day of <<Enter the Month Here>>, 20<<Enter the Year Here>>.
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2.
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The Seller must vacate the property no later than the time and date referred to in Subclause 1 of this Special Condition. The Seller's right of occupancy ceases on that date.
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3.
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The Seller's occupancy of the Property is under a license to the Seller and does not give rise to the relationship of Landlord and Tenant.
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4.
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The Seller will occupy the Property free of payment of rent.
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5.
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The Seller will occupy the Property at its own risk and will be responsible for maintenance of the Property and insurance of the Property in joint names to the satisfaction of the Buyer.
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6.
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The Seller will remain liable for all outgoings with respect to the Property up until the Property is vacated and insofar as they are ascertainable, such outgoings may be adjusted at Settlement.
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Seller's Possession After Settlement (Rental Charged)
Notwithstanding the provisions of Clause 12.3(98) of the Terms and Conditions:
1.
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The Buyer and Seller agree the Seller may remain in occupation of the property after Settlement for a period ending no later than 5pm on the <<Enter the Day of the Month Here>> day of <<Enter the Month Here>>, 20<<Enter the Year Here>>.
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2.
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The Seller must vacate the property no later than the time and date referred to in Subclause 1 of this Special Condition. The Seller's right of occupancy ceases on that date.
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3.
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The Seller shall, while remaining in occupation of the Property, pay a rental of $<<Enter Amount Here>> per week which shall form an outgoings adjustment at Settlement.
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4.
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The Seller will occupy the Property at its own risk and will be responsible for maintenance of the Property and insurance of the Property in joint names to the satisfaction of the Buyer.
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25 Sep 2018
Deceased Estate Where No Grant of Probate
1.
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The Parties acknowledge the registered proprietor/s being deceased, this Contract is subject to and conditional upon registration in the Department of Natural Resources and Mines – Queensland Titles Land Registry of a Transmission by Death of ownership of the Property in favour of the Seller, in accordance with the provisions of the registered proprietor's will, on or before the <<Enter Day of the Month Here>> day of <<Enter the Month Here>>, 20<<Enter the Year Here>>. The Seller must use its best endeavours to obtain registration of the Transmission by Death as soon as possible.
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Local Government Approval of Plans
1.
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This Contract is subject to and conditional upon the Buyer receiving written approval from the Local Government in accordance with the Sustainable Planning Act 201609 for the construction of <<Enter Details of Required Construction Here (refer to an Addendum if necessary)>> on the Property on conditions satisfactory to the Buyer ('Approval') within <<Enter Number of Days Here>> days of the Contract Date ('Approval Date').
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11.
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Should the application for Approval be granted by the local authority on conditions satisfactory to the Buyer, this Contract is further subject to no appeal being lodged with the planning and environment court under the Sustainable Planning Act 201609. Should such an appeal be lodged the Buyer may terminate this Contract or waive the benefit of this Clause.
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All other Clauses of this Special Condition remain unchanged.
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Prior Contract and Stamped Transfer
3.
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The Seller undertakes to answer at the Seller's expense any requisitions which may be issued by the Registrar of Titles from the Department of Natural Resources and Water or Office of State Revenue in relation to the prior transfer and supporting documents.
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All other Clauses of this Special Condition remain unchanged.
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Prior Stamped Transfer
3.
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The Seller undertakes to answer at the Seller's expense any requisitions which may be issued by the Registrar of Titles from the Department of Natural Resources and Water or Office of State Revenue in relation to the prior transfer and supporting documents.
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All other Clauses of this Special Condition remain unchanged.
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01 Jul 2018
Buyer’s Early Possession
The parties agree early vacant possession of the property shall be given to the Buyer <<Enter the Number of Days Here>> days prior to the date of Settlement subject to the provisions of Clause 221 of the terms and conditions. Possession will not however be given unless or until the Buyer confirms it has completed and is satisfied with all searches with respect to the Property and will make no claim or objection with respect to the results of such searches.
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Foreign Investment Review Board Approval
(1)
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Clause 165 of the Terms and Conditions is deleted and in lieu thereof, this Special Condition is inserted.
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Prior Contract & Stamped Transfer
(2)
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In addition to documents required to be delivered in accordance with Clause 121.3 of the Contract, the Seller will deliver to the Buyer at Settlement, an executed prior stamped transfer capable of immediate registration, free from other than notified Encumbrances in favour of the Seller, which prior transfer will enable the Seller to become registered as proprietor of the Property.
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Prior Stamped Transfer
(2)
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In addition to documents required to be delivered in accordance with Clause 121.3 of the Contract, the Seller will deliver to the Buyer at Settlement, an executed prior stamped transfer capable of immediate registration, free from other than notified Encumbrances in favour of the Seller, which prior transfer will enable the Seller to become registered as proprietor of the Property.
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Seller's Possession After Settlement (No Rental Charged)
Notwithstanding the provisions of Clause 121.3(8) of the terms and conditions:
All other Clauses of this Special Condition remain unchanged.
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Seller's Possession After Settlement (Rental Charged)
Notwithstanding the provisions of Clause 121.3(8) of the terms and conditions:
All other Clauses of this Special Condition remain unchanged.
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Show Cause Notice issued in respect of a Regulated Pool
With respect to the Regulated Pool the parties acknowledge, as at the date of the Contract, there is a Show Cause Notice under Section 246AG of the Building Act 1975, in respect thereof, and notwithstanding the provisions of Clause 232(2) as it relates to Section 246AG, the Seller undertakes to, prior to the Date of Settlement:
All other components of this Special Condition remain unchanged.
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