What to fill in on a sale and purchase agreement

[fergie01]

I am selling a property privately, what sections are required to be filled in by me. I know a lawyer helps in this area, but have an open home this evening, so no time and want to have one ready, if I get an offer

[gizzyjosh]

Hmmm. If you don't know what you're doing then leave it to a lawyer. Otherwise you could just get yourself in legal trouble. Not many buyers will sign an S&P tonight without getting their lawyer to look over it anyway.

[fergie01]

yeah, Cheers Josh, just wanting to write in the basics and leave the indepth legal stuff for the lawyers.

[Dean@Massiveaction]

You fill in the vendors name may be you personally or an entity.
Fill in the property details that you know, you should be able get most of them off your rates bill. And on the back page fill in your lawyers details.
On the bottom of the front where the agents details usually goes you print SALE BY PRIVATE TREATY and if it is a rental fill in the tenancy details.
On the signature page there is a standard list of chattels. Cross out any you don't have and add in any specific chattels that you are including, like spa pools, fixde tv's large mirrors, anything that you are leaving. This can help you get a better price.
Everything else the buyer fills in.

[mortgage broker]

Be weary of any clauses which give the buyer a lot of time (more than 7 working days) to check things and lets them get out easily for any reason.

Unless of course you have not had any decent offers for a long time.

[Orkibi]

If I was a seller I would try to putt a 3 day cash-out clause in the contract.
that is if you get a better cash unconditional offer at the time when the first buyer is conditional offer you can give them 3 days to confirm or the deal is canceled.

[Green Fish]

gizzyjosh: I can't agree with your comment about most people checking with their lawyer before they sign. That hardly ever happens. Anyone who has purchased a property knows how agents work. They want to "get something on paper", which is a standard-form agreement signed by one party. They then drive to the other party's residence to "present" the offer. After the usual crap about "meeting the market" they obtain a counter-offer, whereby the price is amended. They then drive back to the other party's residence, spout some more crap about the market, and, hopefully, get the counter-offer accepted. No lawyers are involved in any of this. The only way that happens is if one party directs that a "subject to lawyer's approval" clause is inserted.

If I'm wrong (and I'm not), then I stand to be corrected.