Bellco Law's Conveyancing Special Conditions

Property at Seller's risk until settlement date

Notwithstanding the provisions of Clause 8.1 of the Terms of the Contract, the Seller and Buyer hereby agree that the property shall remain at the Seller’s risk up to and until completion of the Contract.

Pool Safety Certificate to be provided by Seller

The Buyer requires that the Seller obtain, 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 the Contract by Notice given to the Seller and this Contract shall be at an end and the Deposit must be promptly refunded to the Buyer. The Seller acknowledges that this special condition is for the benefit of the Buyer only and may be waived or exercised by the Buyer.

Buyer completing prior contract

This Contract is subject to and conditional upon the Buyer completing the Contract of Sale for (insert street address of property) dated (insert date of Contract), 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.

Repairs prior to settlement

This Contract is subject to and conditional upon the Seller repairing at his/her/their expense, the (insert applicable) in the property to full and complete working order prior to settlement. In the event that the (insert applicable) 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 applicable). The sum to be deducted from the Purchase Price shall be calculated by the Buyer obtaining a quote from a qualified repairer of their choice.

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 to the Seller and this contract 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.

All finals being issued

This contract is subject to and conditional upon the Buyer being satisfied by (insert number of days) 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 satisfied, the Buyer may terminate this contract by notice to the Seller and this contract shall be at an end and the Deposit must be promptly refunded to the Buyer.

Subject to a 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 (insert number of days) from the contract date. In the event that the Buyer is not 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.

Buyer entering contract of sale

1. This contract is subject to and conditional upon the Buyer entering into a contract for the sale the Buyer's property at (insert street address of property) by (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 refunded to the Buyer.
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 refunded without deduction.
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.

FIRB approval

This Contract is subject to the Foreign Investment Review Board (hereinafter called "F.I.R.B.") granting approval to this transaction. 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.

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, prior to this Contract going unconditional, then the Seller shall give written notice of this to the Buyer.
3. The Buyer must agree to go unconditional on this Contract within 72 hours of receiving the Notice, or this Contract shall be at an end and all deposit monies shall be refunded to the Buyer.

Seller to provide vacant possession

As disclosed in the 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. If the Seller cannot provide the Buyer with vacant possession upon Completion then the Buyer may:

1. Terminate this Contract by giving notice to the Seller; or
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.

Sale subject to bank release of mortgage

The Seller hereby discloses and the Buyer acknowledges that the sale price is insufficient to pay out the Seller’s mortgage with respect to this property. This Contract is subject to and conditional upon the Seller obtaining written confirmation, within (insert number of days) from the date of the Contract, that the mortgagee will release the mortgage at settlement. If the Seller is unable to obtain written consent within (insert number of days) then the Seller shall be entitled to terminate this Contract by notice given in writing to the Buyer and the deposit shall be refunded to the Buyer without deduction.

Access prior to settlement for storage of goods

1. The Seller has agreed to allow the Buyer access to the property prior to the settlement date on (insert date) to store goods (at the property/inside the dwelling/shed only/garage only).
2. The Buyer will provide a copy of the relevant Certificate of Currency for the insurance to the Seller prior to possession being permitted.
3. All goods stored by the Buyer at the property are stored at the sole risk of the Buyer, and 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 property.

Possession prior to settlement

1. The Seller has agreed to allow the Buyer to enter into possession of the property from (insert the date of possession) in accordance with Clause 8.5 of this Contract.
2. The Buyer will provide a copy of the relevant Certificate of Currency for the insurance to the Seller prior to possession being permitted.
3. 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.

Registration of record of death

This Contract is subject to the Seller obtaining registration in the Department of Natural Resources, Mines and Energy of a Record of Death allowing the Seller to become the registered owner of the Property.

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 that registration of the Transmission by Death has occurred.

If the registration of the Transmission by Death has not occurred within 60 days of the date of this Contract then the Buyer may terminate the Contract and the deposit will be refunded to the Buyer.

Inspection of the property

This Contract is subject to the Buyer (or their appointed agent) undertaking a physical inspection of the property within seven (7) days from the date of this Contract and being satisfied in all respects with the results of such inspection. In the event that the buyer is not satisfied with the inspection, the Buyer may terminate the contract and all deposit moneys paid shall be refunded in full without deduction.

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 cannot for any reason related to the lack of a fully operational and functional Body Corporate terminate this Contract.

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.

Pool inspection

This Contract is subject to and conditional upon the Buyer obtaining, at his expense, a satisfactory report from a licensed Pool Inspector to ensure that the Pool pump and all equipment are in good working order within (insert number of days) from contract date. In the event that the Buyer is not satisfied, the Buyer may, at the Buyer’s election, 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.

Electrical or plumbing inspection

This contract is subject to and conditional upon the purchaser obtaining, at his expense, an electrical/plumbing report from a licenced Inspector within (insert number of days) from the contract date. In the event that the Buyer is not satisfied, the Buyer may, at the Buyer’s election, 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.

Useful Links

• Building and Pest Inspections
• Searches
• Instant Quotes
• Stamp Duty Calculator
• Registration Fee Calculator