Contract

The contract of sale outlines all the essential details of the transaction including the purchase price, settlement date, deposit amount, inclusions, exclusions and any special conditions. Once both parties sign the contract, it becomes legally enforceable, although buyers may still have a cooling-off period depending on the state and the selling method. Contracts also include key legal documents such as the title search, zoning information, strata details (if applicable) and disclosures about easements, defects or restrictions. A clear, well-prepared contract reduces the risk of disputes, delays or misunderstandings later in the process. Sellers usually rely on a solicitor or conveyancer to draft or review the contract before listing the property, ensuring everything is compliant and complete. A skilled agent explains contract terms to buyers in plain language, manages questions and ensures deadlines are met during the negotiation, exchange and settlement stages. Understanding the contract helps sellers stay informed and confident throughout the transaction.

Practical Example

Before listing your home, your conveyancer prepares the contract of sale including the title documents, drainage diagrams and a list of inclusions such as fixtures and appliances. When buyers attend inspections, your agent provides copies of the contract and answers questions about settlement timing and deposit conditions. One buyer requests a minor change to the settlement date due to their loan approval timeline, and your agent negotiates this adjustment smoothly between both parties. When the buyer submits an offer, your agent ensures all contract terms are clear and agreed upon before signatures are exchanged. Once the contract is signed, your agent monitors key deadlines such as the cooling-off period, deposit payment and finance approval. The sale progresses smoothly because the contract was well-prepared and the agent managed every detail professionally.

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