Exchange of Contract for Sale

Exchange of Contract for Sale
Residential property cannot be offered for sale unless there is a Contract for Sale available and ALL the required documents are available for inspection at the Agent’s office.  It is not sufficient to have just the front page of the contract and a s149 Certificate.

The required documents are:

  • Proposed Contract
  • The prescribed documents (s52A Conveyancing Act) eg full title search, S149(2) Certificate, Sewer Reference Sheet – it is important to note that one of the prescribed documents is a s88G Certificate which relates to any positive covenant registered on title
  • If Option – a copy of the proposed Option Agreement

Penalties apply for failure to comply with the above if there is an indication that the property is being offered for sale. Indications include advertising, erecting signs, advertising an auction, displaying a description, photographs in the office, showing the property to a prospective purchaser or giving the address of the property to a prospective purchaser.