Examples of Special Conditions in Contract of Sale Qld

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When it comes to buying or selling property in Queensland, there are a number of special conditions that may need to be included in the contract of sale. These conditions are designed to protect both the buyer and the seller, and can cover a wide range of issues. In this article, we will look at some common examples of special conditions in a contract of sale in Queensland.

1. Building and pest inspection

It is common for buyers to request a building and pest inspection as a condition of the sale. This allows the buyer to identify any potential issues with the property, such as structural damage or pest infestations. The contract may specify who is responsible for paying for the inspection and what happens if any issues are identified.

2. Finance clause

A finance clause is a common condition that allows the buyer to cancel the contract if they are unable to secure finance for the purchase. This clause may specify a timeframe within which the buyer must obtain finance and may also outline the consequences of failing to secure finance.

3. Settlement date

The settlement date is the date on which the buyer takes possession of the property. The contract may specify the settlement date and any penalties that may apply if either party fails to meet this date.

4. Chattels and fixtures

A chattel is a movable item that is not attached to the property, such as furniture or appliances, while fixtures are items that are permanently attached to the property, such as light fixtures or built-in wardrobes. The contract may specify which items are included in the sale and which are not.

5. Special conditions

Special conditions can cover a wide range of issues, such as zoning restrictions, special requirements for land use, or environmental concerns. These conditions may be specific to the property or the buyer’s requirements and can be negotiated between the parties.

In conclusion, when buying or selling property in Queensland, it is important to include special conditions in the contract of sale to protect both parties. Building and pest inspections, finance clauses, settlement dates, chattels and fixtures, and special conditions are just some examples of the types of conditions that may need to be included. A qualified solicitor or conveyancer can assist in drafting a contract of sale that includes the necessary special conditions.

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