The contract of sale is a legal agreement between the seller and the purchaser.
In NSW, the contract of sale would usually contain;
Title documents
Sewerage and drainage diagram
Property inclusions and exclusions
Statement of the buyer’s rights under the cooling off period
Information on restrictions placed upon the property and section 10.7 certificates (section 149 certificates) issued by the local council
Relevant strata information (if a strata scheme property)
It also sets out the terms and conditions of the sale and clearly states any fittings being purchased with the property.
If the property for sale has a swimming pool or spa pool, one of the following must also be attached to the contract;
A copy of a valid certificate of compliance or;
Relevant occupation certificate and evidence that the pool has been registered or;
A valid certificate of non-compliance
It’s also important to note that this requirement does not apply;
To a lot in strata or community schemes that have more than two lots or;
For any off-the-plan contract
It’s also worth noting that all contracts of sale vary depending on the complexity, type of property offered, local councils and the property details. It’s best to have a solicitor / licensed conveyancer look over all potential contracts of sale to ensure everything is in place.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
