This Residential Real Estate Sale Contract (Cash Sale or Seller Financing) is used for residential real estate transactions where the buyer is paying for the property in cash or the seller is financing the purchase of the property. This type of contract is used for the sale of free-standing residential homes, constitutes a formal offer and creates a binding obligation when signed by the parties. This contract contains the traditional terms between a buyer and seller including the property to be sold, purchase price, payment terms and items which are included or excluded items in the property sale. It is imperative that this type of sale contract be clearly set out in writing. A written Residential Real Estate Sale Contract (Cash Sale or Seller Financing) will prove invaluable in the event of disagreements, misunderstandings or litigation between the parties.

This Residential Real Estate Sale Contract (Cash Sale or Seller Financing) contains the following important provisions:

• Parties: Sets forth the seller and buyer of the property;
• Property To Be Sold: Sets forth the address and a detailed legal description of the property;
• Included/Excluded Items: Detailed list of the property items which are included (such as fixtures, appliances, window hangings) and any items which are excluded from the property sale;
• Purchase Price/Payment: Sets forth the total purchase price for the property and if seller financed, the payment terms;
• Credit Check: If seller provides financing under this contract, the buyer must agree to a credit check and to provide all relevant financial information to seller;
• Sale Contingencies: If financing is provided by a third party, the buyer agrees to obtain firm commitment for financing within a certain timeframe and if financing is not obtained, the buyer may cancel this contract;
• Additional Contingencies: Sets forth the contingencies which must be satisfactorily completed (i.e., property, architectural and environmental inspections);
• Home Warranty: Sets forth who will purchase a homeowner’s warranty plan, what this plan should cover and the expiration date of this warranty;
• Delivery of Deed: The seller shall deliver marketable title to the property to buyer via warranty deed and take all necessary steps to complete the closing;
• Closing and Possession: Sets forth the date of closing and that buyer will have immediate possession of the property unless otherwise agreed;
• Closing Costs: A detailed list of how closing costs will be paid (buyer, seller or both parties to share in the cost);
• Disputes: If there are disputes, whether they will be settled by litigation, mediation or arbitration;
• Signatures: The seller(s) and buyer(s) must sign and date this sale contract.

Protect Yourself, Your Rights and Your Property by using this professionally-prepared and accurate form. This lawyer-prepared package includes:

1. Instructions and Checklist
2. General Information
3. Residential Real Estate Sale Contract (Cash Sale or Seller Financing) for use in Australia

Law Compliance: This form complies with the state and territory laws of Australia