Standard Form Contract for Sale of Real Estate in Tasmania
The Particulars of Sale (2023)
© Law Society of Tasmania 2023
The Standard Form Contract for Sale of Real Estate in Tasmania (2023) as approved for use by the Law Society of Tasmania and the Real Estate Institute of Tasmania is made up of two parts:
1. these agreed variables and non-standard clauses, known as “the Particulars of Sale (2023)”; and 2. the standard clauses known as “the Standard Conditions of Sale (2023)”.
The Standard Conditions of Sale are adopted as part of the Contract by signature of the Particulars of Sale.
The parties may add special clauses in the Particulars of Sale, for instance to make their agreement subject to finance, sale, inspection, or other issues.
The Particulars of Sale may vary the Standard Form Contract. The Particulars of Sale have priority if there is any inconsistency with the Standard Conditions of Sale.
The drafting of the Particulars of Sale should make evident changes to the provisions of the Standard Form Contract.
Words defined in the Particulars of Sale have that meaning when used in the Standard Conditions of Sale.
WORDS DEFINITION
Contract Date The ……….. day of ………………………………………………………..2024
Vendor
(The seller of the Property)
Name: Tianhong and Tyche Pty Ltd (ACN 637 782 319) ATF Tianhong and Tyche Unit Trust
Address: Level 33, 31 Market Street
Suburb: Sydney
Postcode: 2000
State: New South Wales
Phone:
Email: ABN: N/A
Vendor’s Solicitor or Conveyancer Firm: Wallace Wilkinson and Webster Person: William Justo
Purchaser
(The buyer of the Property)
Address: 169 Liverpool Street, Hobart in Tasmania
Name:
Address:
Suburb:
Postcode:
State:
Phone:
Email: ABN:
Purchaser’s Firm: Person:
WORDS DEFINITION
Solicitor or Conveyancer Address:
Property
(If part only, accurately describe part)
Chattels
(List the Chattels included in this sale or attach annexure)
The Vendor’s property at: all that part of the Vendor’s property at 8-10 Petchey Street, Bellerive in Tasmania being the Unit number as shown highlighted in yellow on the attached Plan marked “Plan”
Property Identifier Numbers: 9197852 and 5090770
As described by Title References: 12272/6,176866/2, 20370/1, 215493/1, 218311/1, 222744/1 and 12272/5
Sale Price (See Standard Condition 2) $
Deposit (See Standard Condition 2) $
Deposit Holder (See Standard Condition 2)
Deposit Payment Time (See Standard Condition 2)
GST Treatment (See Standard Condition 11)
Harcourts Signature Trust Account
Either On the Contract Date or Other date – (specify): ………………………………………
Mark a box to indicate the GST Treatment
Either The sale is not a taxable supply
or
or
GST Withholding Treatment
(See Standard
The Margin Scheme applies and the Sale Price includes GST
The GST-free Going Concern concession applies
and/or The GST-free Farm Land concession applies and/or If the treatment above does not apply:
The Sale Price includes GST
or The Sale Price is plus GST
Mark a box to indicate the GST Withholding Treatment
Either GST withholding is not required because: The sale is not a taxable supply, or
WORDS DEFINITION
Condition 11)
Completion Date
(See Standard Condition 3)
The sale is GST-free, or
The sale is not of new residential premises or potential residential land, or
The Property is potential residential land and the Purchaser is acquiring with a creditable purpose or GST withholding is required and the sale is: wholly subject to GST withholding, or only partly subject to GST withholding
Either The ……….. day of ………………………………..20…… or
Another date:
Availability On the Completion Date, the Vendor must make available to the Purchaser:
Either Vacant possession of the Property or The right to receive rents and profits of the Property A copy of the lease(s) is attached or Other (specify): ……………………………………………….
Purchaser’s Required Purpose
(See Standard Condition 5)
Vendor Warranty
(See Standard Condition 10)
Either The Purchaser’s Required Purpose termination right does not apply or
The Purchaser may terminate this Contract and be refunded the Deposit (if paid) if there are any legal restrictions burdening the Property that may hinder or prevent the Purchaser from using the Property for the purpose of:
Vacant residential land, or Residential dwelling, or
Other (specify):
The Standard Condition 10 exclusion of warranties applies: Either Without qualification – the Property is sold “as is/where is”
Subject to any Additional Special Clause, the Vendor warrants that, as far as the Vendor is aware* or ought to have been aware, there are no outstanding completion certificates or occupancy permits required for existing buildings, statutory orders or permit conditions on the Property. *The Vendor is deemed to be aware if they performed, were responsible for or caused to be performed the relevant work. or The Vendor warrants that to the best of the Vendor’s knowledge the attached statement is accurate
Neighbourhood Disputes About
Is the Vendor aware of an application or order under the Neighbourhood Disputes About Plants Act 2017 (Tas) been made in relation to the Property:
WORDS DEFINITION
Plants Act 2017 (Tas)
Either Yes - a copy of the application and any additional information filed with the relevant tribunal or the order is attached or No
Strata Titles Act 1998 (Tas)
Cooling Off (See Standard Condition 21)
Is the Property subject to a strata scheme under the Strata Titles Act 1998 (Tas)?
Either Yes or No
If the above selection is incorrect, then the Purchaser may terminate this Contract by notice to the Vendor given within seven (7) days after the Contract Date, and the Purchaser will be entitled to any deposit paid but neither party will be otherwise entitled to any compensation.
The cooling off provision of three (3) Business Days: Either Applies or Does not apply
If no selection is made, the cooling off provision does not apply.
SPECIAL CLAUSES
Use Special Clauses to alter the Standard Conditions of Sale.
Finance Clause If this Contract is subject to finance, complete all relevant details below. All relevant details must be completed for the following clause to apply.
It is a condition precedent to the Purchaser’s obligation to complete this Contract, that within the Finance Period, the Financier makes available to the Purchaser a loan of the Finance Amount, on terms currently available in transactions of a similar nature. The Purchaser is the party benefited by this condition precedent.
Finance Amount (Insert amount) $...........................................................................................................
Financier (Insert name)
Finance Period (Complete) Either Until the ……….. day of …………………………20… or (insert number) days from the Contract Date or
Subject to Sale Clause If this Contract is subject to the signing and /or settlement of the sale of the Purchaser’s Property, complete all relevant details below. All relevant details must be completed for the following clause to apply.
Purchaser’s Property (Insert address) …………………………………………………………
• Subject to Contract: It is a condition precedent to the Purchaser’s obligation to complete this Contract, that within the nominated Contract Selling Period, the Purchaser obtains a contract for the sale of the Purchaser’s Property that is free of any unsatisfied condition precedent. The Purchaser must offer the Purchaser’s Property for sale for no more than the Maximum Asking Price.
Contract Selling Period Either Not applicable or By the …… day of …………20…/ or within…….days from
Maximum Asking Price (Insert amount) $....................................
• Subject to Completion: It is a condition precedent to the Purchaser’s obligation to complete this Contract, that a sale of the Purchaser's Property is completed on or before the nominated for Sale Settlement Deadline
Sale Settlement Deadline
Either Not applicable or The …. day of …………20…/ or within …..days from…………………………………………
Inspection Clause If this Contract is subject to a building inspection All relevant details must be completed for the following clause to apply.
The Purchaser may have reasonable access to the Property during the Building Inspection Period to inspect buildings and other improvements on the Property personally or by agents, at the Purchaser’s cost. If, strictly within the Building Inspection Period, the Purchaser serves on the Vendor:
• a copy of a report, by a building inspector holding professional indemnity cover for that work or a licensed Building Services Provider under the Occupational Licensing Act 2005 (Tas), both:
o specifying one or more defects in buildings and other improvements on the Property; and
o certifying that the defects are likely to cost more to remedy than the Defect Limit; and
• notice that the Purchaser terminates this Contract in response to that report, then the parties’ obligations under this Contract end and the Purchaser is entitled to a refund of the Deposit, but neither party is otherwise entitled to compensation.
Building Inspection Period (Complete) until the ……….. day of …………………………20….. or (Insert number of days) …….. days from …………………………………
Defect Limit
Either per cent of the Sale Price or $ ….
Shorter Period Clause If selected below the Vendor may shorten the period to satisfy Special Clauses.
The Vendor may, by notice in writing to the Purchaser, shorten to two (2) Business Days after the day on which that notice is given the period for satisfying:
Either Or Or all of the special clauses to this Contract the following special clauses………………… the Shorter Period Clause does not apply
Additional Special Clauses are annexed
The attached 7 annexure pages are part of this Contract.
Subject to these Particulars of Sale, the Standard Conditions of
Sale:
• allow the Purchaser to terminate without penalty within a cooling off period; and
• provide for sale as is/where is, without promises about physical condition, permits or certificates.
By signature the parties confirm:
• they have read these Particulars of Sale and the Standard Conditions of Sale 2023;
• their intention to be bound by this Contract for the sale of real estate;
• they had the opportunity to take necessary advice before signing the Particulars of Sale; and
• the Standard Conditions of Sale 2023 form part of this contract
Vendor Signature
in the presence of: Witness Signature
Name, Address, Occupation of Witness
Purchaser Signature
in the presence of: Witness Signature
Name, Address, Occupation of Witness
1. Guarantee
Should the Purchaser be a Corporation of a Trust then the Directors of such Corporation of Trustees of such Trust shall execute the attached Guarantee Schedule 1.
2. Deposit
Notwithstanding the treatment of the deposit in the Particulars, should the Vendor be unwilling or unable to complete the Contract through no fault of the Purchaser then the Vendor shall repay the Purchaser the full deposit without deduction or addtion of interest.
3. Subject to issue of Title
This Contract is conditional upon the issue of a separate Title to the Property on or before 18 months from the date herein.
The Vendor must use all reasonable endeavours to fulfil the condition precedent in Special Clause 3 within the time allowed for doing so. The Vendor is responsible for all costs and expenses relating to the strata plan and the acceptance of the strata plan for the Development.
If Title is not issued within the period permitted by this period, then either party to this Contract may avoid the Contract by notice in writing to the other party.
4. Purchaser’s Planning Application
The Purchaser shall consent to any reasonable Planning Application lodged by the Vendor’s representatives for the development of the Property and their consent will not be unreasonably withheld
5. Purchaser accepts Development
The Purchaser acknowledges that the Property is part of a development of 18 Strata Title Units (the Development) (including the Property). A draft Plan is annexed hereto and marked “A” The Purchaser also acknowledges that the Vendor may, at their absolute discretion, increase the number of units to be built in the Development absent of any approval from the Purchaser subject to it not materially prejudicing the Purchaser by reducing the size of the unit or title to the Property by more than 5% of the size shown on the Plan.
6. Development
6.1 The Vendor may make changes to the Property and the Development, including, without limitation, changes to:
(a) the design, size, materials, location, configuration, the total number of lots, units or use of lots and units and roads to the extent that the Vendor takes reasonable steps to adhere to the strata plan for the Development where possible;
(b) the Plan if the change does not materially alter the Property and/or the Development or materially prejudice the Purchaser;
(c) the size of the Property and/or the Development, by up to five (5) per cent of that shown on the Plan;
(d) the name of the Strata Corporation and the common property including the size, layout, car parks and configuration;
(e) any requirement, authorisation or permit issued by any local or other authority in respect of the Development provided that any alteration does not materially alter the Property and/or the Development or otherwise materially prejudice the Purchaser; and
(f) settle the form of the Body Corporate Rules.
6.2 No objection or requisition or claim for compensation will be made by either party arising out of any alterations contemplated by Special Clause 7.2.
6.3 The Purchaser acknowledges that the Vendor will have the sole and absolute discretion as to the pace at which the entire Development will be carried out.
6.4 If requested to do so by the Vendor, or by any other applicable authority, the Purchaser will, within seven (7) days of being requested to do so, sign any consents or authorities that the Vendor may reasonably require to enable the Vendor to obtain any variation or amendment to any planning permit or any further or additional planning permits that may be required to be applied for by the Vendor with respect to the Development.
7. Body Corporation Establishment
The Purchaser acknowledges that:
(a) upon acceptance by the Recorder of Titles of the strata plan relating to the Development, a body corporate will be established;
(b) the Purchaser will become a member of the body corporate after Completion of this Contract;
(c) the Purchaser will be required to pay levies to the body corporate and the Purchaser will be subject to the bodycorporate rules or by-laws.
8. Strata Development
The Property is sold and the Purchaser will take title subject to the provisions of the Strata Titles Act 1998 (Tasmania) (the “Act”) and the by-laws of the body corporate and in particular;
8.1 the unit entitlement and all other matters contained in or endorsed onthe Plan;
8.2 the easements for support, shelter and services expressed or implied in favour of or against an owner or a lot as defined in the Act and all ancillary rights thereto by virtue of the Act;
8.3 the proposed by-laws of the body corporate as attached and marked Annexure “D”’; and
8.4 accepts all necessary body corporate adjustments at Completion and acceptance of any priority rights and the like and no objection or requisition will be made by the Purchaser with respect to the above matters.
9. Amendment to Strata Plan and Boundary Adjustment
9.1 The Purchaser acknowledges that the Property forms only a part of the Development and that it is the intention of the Vendor to complete the Development in accordance with the actual plan approved by the City of Clarence Council and, for that purpose, the Vendor may cause the Plan to be amended
9.2 Provided that the Property is not materially affected, the Purchaser will make no objection or requisition or claim for compensation in respect of any further development. The Purchaser acknowledges and agrees that the Vendor will have the sole and absolute discretion as to the time and manner in which the Vendor's property is developed and the Vendor will, under no circumstances, be obliged to proceed with further development of their property to the intent that the Purchaser will have no action, right, remedy or claim for compensation against the Vendor for failure to carry out further stages of the Development.
9.3 The Purchaser will consent to any amendment of the Plan to give effect to any other aspect of the Development as contemplated by this Special Clause provided that the amendment does not materially affect the Property If required by the Vendor, the Purchaser will also use its best endeavours to procure the consent of all mortgagees of the Property to any amendment.
9.4 For the purpose of facilitating any amendment of the Plan to give effect to any further development contemplated by this Special Clause, and otherwise to assist with the Boundary Adjustment, the Purchaser will, on the Completion Date, execute and hand to the Vendor:
(a) an irrevocable general proxy in the form of Annexure "B" to vote at meetings of the body corporate or strata corporation at which any resolutions are proposed which relate to the Development and Boundary Adjustment; and
(b) a limited power of attorney in the form of Annexure "C".
9.5 The Purchaser will neither make nor support any appeal or objection against plans or proposals lodged by the Vendor or against works carried out by the Vendor in relation to any further development contemplated by this Special Clause and the Purchaser will, at the Vendor’s cost, execute any documents reasonably required by the Vendor for this purpose.
9.6 The Purchaser and the Purchaser’s legal personal representatives and successors, covenant with the Vendor to procure that any person who purchases, takes an assignment of or succeeds to or in any other way in law or in equity becomes entitled to the whole or any part of the Purchaser’s interest in the Property will, on or before becoming entitled, enter into and execute with the Vendor a deed which will effectively bind the person to comply with the terms of this Contract.
9.7 The provisions contained in this Special Clause 8 do not merge in the transfer upon completion.
10. Defects
10 1 The Vendor must repair:
(a) scratches, chips, dents, stains or marks in any surface, covering, Inclusion, fixture or fitting provided that such defects are notified to theVendor on or before the Completion Date or possession (whichever occurs first); and
(b) any other defects of workmanship and materials that are notified to theVendor within three (3) months after the date of possession or the Completion Date (whichever occurs first).
10.2 The Purchaser may inspect the Property, once in the presence of the Vendoror the Vendor's representative prior to the Completion Date for the purpose of establishing the condition of the Property
10.3 Special Clause 10.1 does not apply to defects caused by
(a) temperature changes and normal settlement;
(b) fair wear and tear or minor shrinkage;
(c) minor cosmetic damage; or
(d) matters that would normally be rectified by ordinary maintenance.
10.4 The Purchaser must complete this Contract and pay the Purchase Price regardless of any defect in the Property or in the Inclusions, whether due todefective materials, workmanship or other cause.
11. The Purchase Price and other monies payable by the Purchaser and the Vendor pursuant to the terms of this Contract are inclusive of GST. The Vendor must provide the Purchaser with a Tax Invoice at completion.
I of in Tasmania, being the Purchaser of Unit No , being defined as the Property in the annexed Contract of Sale, authorise and irrevocably appoint my proxy to call or attend and vote at any meeting of the body corporate constituted pursuant to Section 71 of the Strata Titles Act 1998 (Tasmania) called for the purpose of dealing with any matter in any way directly or indirectly bearing upon the registration of any application by the Vendor or the body corporate to amend the Strata Plan in which my Property is defined [for the purpose of facilitating any amendment of the Plan to give effect to any further development contemplated by the Contract, and otherwise to assist with the Boundary Adjustment and to vote at any meeting on any motion relating or ancillary to any matter and this appointment will not merge on Completion and may be acted upon or exercised before or after the Completion of the Contract to which this form of proxy is annexed.
Dated this day of 2024
Executed by the Purchaser in the presence of
Witness Signature
Witness Printed Name:
Witness Address
Witness Occupation
