This contract is conditional upon the Seller entering into a contract of sale to purchase an alternative property of their choice and upon that agreement becoming unconditional within [insert number of days] days from the Contract Date. This condition is inserted for the sole benefit of the Seller and can be waived at their sole discretion.
BUYER'S RIGHT TO ACCESS PROPERTY PRIOR TO SETTLEMENT TO CARRY OUT RENOVATIONS:
The Seller agrees to allow reasonable access for the Buyer, and appropriate tradespeople, to the property for the purpose of obtaining quotes to conduct renovations to the property.
Once this contract becomes unconditional the Seller agrees to allow access to the property so the renovations can be commenced. The renovations must be conducted in a satisfactory and workmanlike manner by appropriately qualified and/or licensed tradespeople.
The Buyer hereby agrees to pay all costs for the renovations being conducted. In the event that settlement does not occur, through no fault of the Seller, the Buyer agrees to pay all the costs to ensure the renovations are completed in a satisfactory and workmanlike manner and agrees to indemnify the Seller against any costs, damages or other liability caused by the renovations.
The Buyer hereby agrees that they must take out ‘appropriate’ insurance to the Seller’s satisfaction.
SUNSET CLAUSE (“72 HOUR CLAUSE):
The Buyer acknowledges that, despite the existence of this Contract, the Seller will continue to offer the Property for sale.
If the Seller signs a contract on terms more acceptable to the Seller, in their absolute discretion, prior to the Contract going unconditional, then the Seller shall give written notice (‘Notice of Better Offer’) of this to the Buyer.
If the Buyer does not give notice to the Seller waiving the benefit of the conditions benefiting the Buyer within 72 hours (time being of the essence) of the Buyer receiving the Notice of Better Offer, the Seller may, at its option, terminate this Contract and the Deposit will be refunded to the Buyer in full, and no party shall have any claim against the other.
SUBJECT TO DUE DILIGENCE
This contact is subject to and conditional upon the Buyer being satisfied with due diligence inquiries regarding the Property within [no.] days from the Contract Date (“the Due Diligence Date”).
If the Buyer is not satisfied with its inquiries, the Buyer, may by notice in writing to the Seller given not later than 4pm on the Due Diligence Date terminate this Contract and receive a refund of the Deposit.
If the Buyer fails to give notice that due diligence is satisfied or waived by 4pm on the Due Diligence Date then, at any time after that the Seller or the Buyer may terminate this Contract, and the Deposit will be refunded to the Buyer in that case.
CONTRACT SUBJECT TO SALE OF BUYER'S PRIOR PROPERTY (WHERE CONTRACT ALREADY ENTERED INTO FOR THE PRIOR PROPERTY)
This contract is conditional upon the successful settlement of the buyer's existing property situated at [insert property address] on or before [insert number of days] from the contract date.
Should settlement of the property at [insert property address] not be effected for any reason by the date specified above, then either party may terminate this contract and all deposit monies will be refunded in full to the buyer, with neither party having any claim against the other.
PET APPROVAL BY BODY CORPORATE:
- This contract is subject to and conditional upon the seller providing written approval from the Body Corporate within [insert no of days] from the contract date that the buyer may keep a [insert nature of pet] in the property.
- If approval is not obtained by [insert no of days] from the contract date, the buyer may elect to waive the benefit of this clause, or terminate the contract and all deposit monies will be refunded in full to the buyer, with neither party having any claim against the other.