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Contract Of Sale Of Real Estate - Standard Real Estate Contract

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Description

This document is the new standard form Contract of Sale of Real Estate for use in the sale and purchase of residential real estate in Melbourne and greater Victoria.

Who can use the Standard Contract of Sale of Real Estate

Any person may use the Standard Contract of Sale of Real Estate document, including estate agents, lawyers, conveyancers and individual consumers, provided that it is used in accordance with the Guidelines For Copying and Use of the Standard Contract of Sale of Real Estate (see below).

How the Standard Contract of Sale of Real Estate document has been set out

This contract document follows the design of the standard form Contract of Sale of Real Estate as it appears in the Estate Agents (Contracts) Regulations 2008.  However, it has also borrowed from the formatting of its predecessors in order to give a more familiar look and feel.

The first 7 pages

The first 7 pages of the document require no writing whatsoever, as they contain the General Conditions and mandatory notices as required by the Estate Agents (Contracts) Regulations 2008.  All variable information is confined to the last 3 pages of the document.

For an explanation of the General Conditions see our document "How To Understand The New Standard Form Real Estate Contract".

The last 3 pages

The last 3 pages of the document contain the Particulars of Sale.

Commencing with the "signatures" section at page 1, the document follows the format set out in the Estate Agents (Contracts) Regulations 2008, with page 2 setting out the details of the parties, the property and its inclusions, the price and settlement date.  Page 3 provides for the standard options, dealt with by writing non-standard options into the boxes provided, and concluding with a clear and easy to complete Loan condition.

The document can be handled as two separately stapled documents, or one single bound document.

Explanation of the General Conditions

The front page of the document informs users that "A detailed explanation of the General Conditions of the standard form of Contract of Sale of Real Estate prescribed by the Estate Agents (Contracts) Regulations 2008 is available at www.RealEstateDocuments.com.au."

Estate agents who are asked by purchasers as to the meaning of the General Conditions can simply refer the purchaser to this notice.  In this way the estate agent is able to save time, avoid a 'conflict of interests' situation, and know that the purchaser will have access to a document that will provide information, without causing confusion or misunderstandings.  (See our document "How To Understand the New Standard Form Real Estate Contract".

Guidelines For Copying and Use of the Standard Contract of Sale of Real Estate

The Standard Contract of Sale of Real Estate document is provided free of charge.  However, it is important that we protect the integrity of the document with a few basic rules of use:

  • The document must be downloaded in its entirety;
  • The document must be used in its original format, and not reformatted in any way;
  • The document must be printed from the original PDF, and not photocopied as a blank form; and
  • The document must not be sold.

A breach of these guidelines will constitute a breach of copyright.

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