True Conveyancers
Queensland
Special Conditions
We always recommend you speak with your solicitor prior to signing a contract. We offer this service for free for standard REIQ contracts.
However, to the extent you cannot discuss with a solicitor prior to signing, we have outlined various special conditions that you may wish to consider including in an REIQ contract.
Special Conditions
Subject to the Buyer giving the Seller 24 hours’ notice, the Seller agrees to allow the Buyer and its authorised representatives access to the Property twice a week during the two weeks prior to Settlement for the purposes of:
- Showing prospective tenants through the Property; and
- Allowing tradesmen to view the Property to prepare quotes for work to be done on the Property.
Appliances (less intense version)
Despite any condition to the Contrary, the Seller warrants that all electric, gas and other appliances and equipment (including AC, fans, hot water cylinder and pool equipment as applicable) will be in good working order at the date of settlement.
OR
Appliances (complete version)
Despite any condition to the Contrary, the Seller warrants that all electric, gas and other appliances and equipment (including AC, fans, hot water cylinder and pool equipment as applicable) will be in good working order at the date of settlement. In the event that any of the items are not in good working order, the Buyer shall be able to deduct a sum of money from the Purchase Price for the cost of having the items repaired or replaced (like for like) in a workmanlike manner. The sum to be deducted from the Purchase Price shall be calculated by the Buyer obtaining a quote from a reputable repairer/retailer of their choice.
a. This Contract is subject to and conditional upon the Buyer conducting satisfactory searches (in the Buyer’s absolute discretion) of the Body Corporate records within fourteen (14) days from the date of the Contract (‘the Due Date’).
b. The Buyer must give notice to the Seller that:
(i) it is satisfied with its searches and this special condition is either satisfied or waived; or
(ii) it is not satisfied with its searches and the Buyer terminates this Contract, in which case, the deposit is to be refunded in full.
c. The Seller may terminate this Contract by notice to the Buyer if notice is not given under clause (b) by 5pm on the Due Date, in which case, the deposit is to be refunded to the Buyer. This is the Seller’s only remedy for the Buyer’s failure to give notice.
d. The Seller’s right under clause (c) is subject to the Buyer’s continuing right to give written notice to the Seller of satisfaction, termination or waiver pursuant to clause (b) above.
This Contract is subject to and conditional upon the Seller providing written approval from the Body Corporate within [fourteen (14)] days from the Contract Date that the Buyer may keep [insert nature of pet] of a maximum weight of [insert weight] in the Property. Should approval not be obtained by 5:00PM on this date, or relevant extensions agreed upon, the Buyer may elect to waive the benefit of this clause or terminate the Contract and all deposit monies will be refunded to the Buyer in full.
The Seller acknowledges that this special condition is for the benefit of the Buyer and may only be waived or exercised by the Buyer.
The Buyer acknowledges that the [insert nature of item e.g. shed, carport] does not have Council approval. The Buyer accepts this state of affairs, will take no issue with same, will not make any claim against the Seller for same and enters this Contract in that knowledge.
This Contract is subject to and conditional upon the Seller, at its own expense, engaging a professional cleaner to professionally clean the property to a ‘bond clean’ standard (including oven cleanings and carpet steam clean) prior to the pre-settlement inspection (to be completed no later than 10.00am on the day of settlement) and providing a receipt confirming the works have been completed. In the event the Seller does not have these works completed and/or does not provide a receipt of the professional clean prior to the pre-settlement inspection, the Buyer may deduct the sum of <$1,500.00> from the balance purchase price by way of adjustment in the settlement figures.
Council approvals (less intense provision)
If at the Contract date all permissions, consents and approvals required from the local authority or other body having jurisdiction for the construction of improvements on the land shall not have been obtained or having been obtained have not been complied with in all respects and that has not been disclosed in the Contract, the Buyer may terminate this Contract by notice to the Seller by 5:00PM on the Finance Date <Update due date if there is no finance condition in the Contract>, in which case, the deposit is to be returned to the Buyer immediately.
The Seller acknowledges that this special condition is for the benefit of the Buyer and may only be waived or exercised by the Buyer.
OR
Inspection of Council Records (full provision)
- This Contract is subject to the Buyer conducting due diligence investigations of Brisbane City Council records for the Property within 10 business days of the Contract (‘Due Diligence Date’) and the results of those investigations being satisfactory to the Buyer in all respects.
- The Buyer must give notice in writing to the Seller no later than 5pm on the Due Diligence Date that either:
- The Buyer’s due diligence investigations are satisfactory and this Contract is proceeding; or
- The Buyer’s due diligence investigations are not satisfactory and this Contract is not proceeding, in which case, this Contract shall be at an end and the Deposit shall be returned immediately to the Buyer.
- The Seller may terminate this Contract by written notice to the Buyer if notice is not given under Special Condition (b) by 5pm on the Due Diligence Date. This is the Seller’s only remedy for the Buyer’s failure to give notice.
- The Seller’s right under special condition (c) is subject to the Buyer’s continuing right to give written notice to the Seller of satisfaction, termination or waiver pursuant to special condition (b).
Joint tenants – Request to Record Death
It is acknowledged by the Buyer that the property hereby sold is presently registered in the name of two parties, one of which is deceased.
This Contract is conditional upon the Seller causing a Form 4 Request to Record Death in relation to the [DECEASED]’s interest in the Property to be registered with the Land Titles Registry on or before X days from the Contract Date (‘Due Date’).
The Seller must use its best endeavours to arrange for registration by the Due Date.
In the event that this special condition is not satisfied by 5.00pm on the Due Date, either party may terminate the Contract and the deposit will be refunded in full to the Buyer.
Tenants in common – Transmission Application
It is acknowledged by the Buyer that the property hereby sold is presently registered in the name of two parties, one of which is deceased.
The Contract is conditional upon the registration with the Department of Natural Resources, Mines and Energy/Titles Registry Office of a Transmission by Death in favour of the Seller within X days from the Contract Date (‘Due Date’).
The Seller must use its best endeavours to arrange for registration by the Due Date.
In the event that this special condition is not satisfied by 5.00pm on the Due Date, either party may terminate the Contract and the deposit will be refunded in full to the Buyer.
Executor – Transmission Application
The Contract is conditional upon the registration with the Department of Natural Resources, Mines and Energy/Titles Registry Office of a Transmission by Death in favour of the Seller in the Seller’s capacity as personal representative within X days from the Contract Date (‘Due Date’).
The Seller must use its best endeavours to arrange for registration by the Due Date.
In the event that this special condition is not satisfied by 5.00pm on the Due Date, either party may terminate the Contract and the deposit will be refunded in full to the Buyer.
a. This Contract is subject to and conditional upon the Buyer conducting satisfactory investigations, including but not limited to, searches on the Property within ten (10) business days from the date of the Contract (‘the Due Diligence Date’).
b. The Buyer must give notice to the Seller that:
(i) it is satisfied with its due diligence investigations and this special condition is either satisfied or waived; or
(ii) it is not satisfied with its due diligence investigations in the Buyer’s absolute discretion, and the Buyer terminates this Contract.
c. The Seller may terminate this Contract by notice to the Buyer if notice is not given under clause (b) by 5pm on the Due Diligence Date, in which case, the deposit is to be refunded to the Buyer. This is the Seller’s only remedy for the Buyer’s failure to give notice.
d. The Seller’s right under clause (c) is subject to the Buyer’s continuing right to give written notice to the Seller of satisfaction, termination or waiver pursuant to clause (b) above.
e. The Seller agrees to allow the Buyer and its representatives with access to the Property during the due diligence period for the purpose of carrying out investigations of the property.
Early possession (with rent)
The Seller agrees to provide early possession to the Buyer for the Property from [date / upon this Contract becoming unconditional in all respects]. This early possession is granted on the same terms as those in Clause 8.5 of the Terms of Contract for Houses and Land with the following additions and amendments:
- The Buyer takes early possession of the Property as a Licensee pursuant to the Terms of Contract for Houses and Land at a licence fee of $[xxx.xx] per week, payable weekly in advance to the Seller with the first payment to be made before taking possession and after that weekly in advance from the date of taking possession until completion.
- The Buyer will provide a copy of the relevant Certificate of Currency for the insurance to the Seller prior to possession being permitted;
- 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;
- The Buyer accepts the Property in the condition that it is in when they take possession and will not make any claims, proceedings, actions or demands against the Seller in relation to the condition of the Property when they take possession;
- Title to all chattels and improvements included in the Contract will not pass to the Buyer until completion; and
- If settlement does not occur, the Seller will allow the Buyer fourteen (14) days from the termination of the Contract in which to remove its possessions from the Property and will provide the Buyer and its reasonably necessary invitees further access to the Property upon reasonable notice for the purpose of removing these possessions from the Property.
Early possession (with no rent)
The Seller agrees to provide early possession to the Buyer for the Property from [date / upon this Contract becoming unconditional in all respects]. This early possession is granted on the same terms as those in Clause 8.5 of the Terms of Contract for Houses and Land with the following additions and amendments:
- The Buyer will provide a copy of the relevant Certificate of Currency for the insurance to the Seller prior to possession being permitted;
- 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;
- The Buyer accepts the Property in the condition that it is in when they take possession and will not make any claims, proceedings, actions or demands against the Seller in relation to the condition of the Property when they take possession; and
- Title to all chattels and improvements included in the Contract will not pass to the Buyer until completion.
If settlement does not occur, the Seller will allow the Buyer fourteen (14) days from the termination of the Contract in which to remove its possessions from the Property and will provide the Buyer and its reasonably necessary invitees further access to the Property upon reasonable notice for the purpose of removing these possessions from the Property.
- This contract is subject to and conditional upon the Foreign Investment Review Board (“FIRB”) granting approval to this transaction within thirty (30) days of the Contract Date. Should approval not be obtained by 5:00PM on this date, or relevant extensions agreed upon, the Contract will be at an end and all deposit monies will be refunded to the Buyer in full.
- The Buyer will apply to the FIRB for approval to purchase the Property (the “Application”) at the Contract Date and will comply with all requests for further information and take all steps necessary to pursue the Application.
- The Seller will provide the Buyer with all information that is reasonably available to the Seller as may be required by the FIRB for considering the Application.
- The Buyer agrees that it will notify the Seller or the Seller’s solicitor immediately upon becoming aware of the result of the Application.
- 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 Settlement of the Contract. The Seller is responsible for ensuring the property is adequately insured up until the Settlement Date.
Notwithstanding anything to the contrary, the Buyer and Seller agree that it is the Seller’s responsibility to obtain a current Pool Safety Certificate prior to settlement of this Contract. Should the Seller fail to obtain the Certificate, the Buyer may terminate this Contract and all moneys paid shall be refunded and the Contract will be at an end. The buyer may waive the benefit of this clause.
This Contract is subject to and conditional upon the Seller, at its own expense, having the property professionally cleaned prior to Settlement. If the Seller does not have these works completed prior to Settlement, the Buyer may deduct a reasonable amount from the balance of purchase price at Settlement, equivalent to the cost of a professional cleaner to clean the property.
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 including the Settlement Date.
The Seller agrees to allow the Buyer to advertise the property for rent on commercial websites, provided the Contract is unconditional and within 21 days of the Settlement Date, and will deliver and authorise the use of raw, unbranded campaign photographs for the purposes of the rental advertising.
Seller Rent Back | no Residential Tenancy Agreement (only to be used for rent back periods 28 days or less)
- The Buyer agrees that after settlement of this matter, the Buyer shall allow the Seller to remain in possession of the property until [insert date] at the weekly rental amount of $[insert amount] and a bond of $[insert bond amount] payable in advance at the time of settlement.
- During the period of possession, the Seller agrees to maintain the property in substantially the same condition as at the date of settlement, fair wear and tear excepted.
- The parties agreed that no relationship of landlord and tenant shall be created by possession being given to the Seller and that possession is under licence personal to the Seller revocable at any time by [insert party].
- The Seller agrees to insure the property to the Buyer’s satisfaction.
- The Seller agrees to indemnify the Buyer against the damages or expenses incurred by the Buyer as a result of the Seller remaining in possession of the property.
- The Seller may vacate the property prior to [insert date] by giving at least two (2) weeks’ notice in writing to the Buyer.
Seller Rent Back | with Residential 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 will include the following essential terms:
- Term: [insert number] months;
- Commencement Date: [insert date];
- Rental amount: $[xxx.xx] per week payable weekly in advance;
- Bond amount: $[xxxx.xx] (payable to RTA on or before the Commencement Date)
In the event that the Residential Tenancy Agreement is not signed prior to Settlement, the Seller may elect to terminate this Contract and all deposit monies will be refunded to the Buyer in full.
Notwithstanding anything to the contract, the Seller must provide the Buyer with a smoke alarm compliance certificate issued by a qualified electrician, as evidence that the smoke alarms in the property comply with the Fire and Emergency Services Act 1990 (and Regulations thereto), by the Settlement Date, failing which the Buyer may deduct 0.15% of the purchase price at Settlement.
- 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 (the “Soil Test Date”). If the Buyer is not satisfied, the Buyer may terminate this Contract by giving written notice to the Seller or Seller’s solicitor at any time before 5.00pm on the Soil Test Date and all deposit monies will be refunded in full to the Buyer.
- The Seller authorises the Buyer and/or its consultants to enter the Property for the purpose of conducting the soil test.
- This Special Condition is inserted for the benefit of the Buyer and may only be waived or exercised by the Buyer.
- This Contract is subject to and conditional upon:
- (a) The Buyer entering into a Contract for the sale of the Buyer’s property at [Insert Address] (‘Buyer Sale Contract’) within [insert number of days] days of the date of this Contract.
- (b) The Buyer Sale Contract settling within [insert number of days] days from the date of this Contract.
- If the Buyer is unable to comply with any of the above conditions by 5.00pm on the relevant due date then either party may terminate this Contract and in such event any Deposit paid by the Buyer shall be refunded in full to the Buyer. The refund of any Deposit to the Buyer will be the Buyer’s only remedy.
- This special condition has been inserted for the benefit of the Buyer and may be waived by the Buyer at any time.
- Settlement of this contract shall be contemporaneous with the settlement of the Buyer Sale Contract.
* Consider also including the Sunset Clause to benefit the Seller.
This Contract is subject to and conditional on the Buyer completing the Contract of Sale for [Insert Address] 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.
- In the event that the Seller receives an offer for the sale and purchase of the Property on terms considered more favourable to the Seller in their absolute discretion prior to satisfaction or waiver of special condition [insert clause reference] (Subject to Sale) by the Buyer then the Seller may give notice to the Buyer of such offer being received (‘Notice’).
- If the Buyer does not give written notice to the Seller that the Buyer will proceed unconditionally with the purchase of the Property under this Contract within 3 business days of the Seller giving the Notice, then this Contract will be automatically terminated and any Deposit paid will be refunded in full to the Buyer. The refund of any Deposit to the Buyer will be the Buyer’s only remedy.
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 (“the Prior Contract”) being terminated by 5.00 pm on [insert date]. In the event 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 all deposit monies shall be refunded to the Buyer in full.
Despite the fact that the contract discloses a tenancy, the Seller will provide vacant possession at settlement. Should the Seller fail to provide vacant possession this contract is at an end, failing any agreement to extend settlement, and the Buyers damages shall be limited to the deposit paid herein and shall be refunded without deduction.
(a) This Contract is subject to and conditional upon the Buyer obtaining a satisfactory valuation of the Property in the Buyer’s absolute discretion within 14 days from the Contract Date (‘Due Date’).
(b) The Buyer must give notice to the Seller that:
(i) It is satisfied with its valuation and this special condition is either satisfied or waived; or
(ii) It is not satisfied with its valuation in the Buyer’s absolute discretion, and the Buyer terminates this Contract.
(c) The Seller may terminate this Contract by notice to the Buyer if notice is not given under clause (b) by 5pm on the Due Date, in which case, the deposit is to be refunded to the Buyer. This is the Seller’s only remedy for the Buyer’s failure to give notice.
(d) The Seller’s right under clause (c) is subject to the Buyer’s continuing right to give written notice to the Seller of satisfaction, termination or waiver pursuant to clause (b) above.