REIQ Contract for Residential Lots in a Community Titles Scheme (13th edition)

These Special Conditions are the intellectual property of Enterprise Legal, which we make available for non-exclusive use by agents, lawyers and other persons, in an effort to ensure that Contract Special Conditions are drafted to reflect the intention of the parties and reduce disputes arising as a result of poor drafting! We hope that you find these Special Condition useful, however, we note that these Special Conditions, nor any explanation on this page, does not constitute legal advice and as such, we strongly recommend that you engage Enterprise Legal to provide you with advice specific to your circumstances. Contact our conveyancing team not to see how we can assist you.

Smoke Alarms

Purpose of Special Condition: the purpose of this special condition is to amend the operation of Standard Condition 7.8(2) to alter the deduction to the Purchase Price that the Buyer is entitled to at Settlement, in circumstances where the Seller fails to install compliant smoke alarms in the Property prior to Settlement.

When to use this Special Condition: A Buyer may wish to include this special condition where the deduction as per the Contract Standard Terms would not be sufficient to cover the cost of installing compliant smoke alarms. A Seller may wish to include this special condition if they would prefer for a deduction to be made (rather than arrange the smoke alarm works to be completed) or where the deduction as per the Contract Standard Terms would far exceed the actual cost for the Buyer to install compliant smoke alarms.

Special Condition:

Standard Condition 7.8(2) is amended to delete the words, ‘equal to 0.15% of the Purchase Price’ and replace them with the words, ‘of $[insert fixed figure required by Buyer, expressed both numerically and written].

Deletion of Unilateral Right to Extend Settlement
Deletion of Default Location for Settlement

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