SPECIAL CONDITIONS SALE OF LAND

For each edition, practitioners have been formulating their own Special Conditions. For whatever reason, each edition of standard terms produced by the Law Society of New South Wales and The Real Estate Institute of New South Wales spawns its own unofficial which filter through the profession, attached to clients’ contracts.

The Special Conditions to the Contract for the sale and purchase of land complement the Standard Terms of the Contract for the sale and purchase of land by:

• Deleting and amending the Standard Terms
• Including new terms which are not included in the Standard Terms

Off The Plan Special Conditions for Sale of Land NSW

Special Conditions NSW are designed to be added to the Contract for the sale and purchase of land right after the Special Conditions and before any annexures. For this reason, the numbering of the Special Conditions begins at 13 or 18 (depending on which edition you use) to follow on from the page numbering in the Standard Terms.

Most new property sales use the Special Conditions for Sale of Land NSW 2018 edition. There are still earlier editions in use, so this precedent set includes all five versions still found in circulation. Note Special Conditions are not intended to be used on their own. You still need to purchase the Contract for the sale and purchase of land from the Law Society of New South Wales. There is an online shop on the website of the Law Society of New South Wales from which you can purchase a one-use-only copy of the Contract for the sale and purchase of land. Select the appropriate set of special conditions, add your annexures and you have your Contract!

Special conditions for the sale of land are additional terms and stipulations included in the sale contract that address specific requirements or contingencies agreed upon by the buyer and the seller. These conditions go beyond the standard terms typically found in real estate contracts and are tailored to the unique aspects of the transaction or the property being sold. Special conditions can cover a wide range of issues and are designed to protect the interests of both parties and ensure that all agreed-upon conditions are met before the sale is finalised.

Importance of Special Conditions

• Risk Mitigation: Helps mitigate risks by ensuring that certain conditions are met before the sale is finalised.
• Customisation: Allows the contract to be tailored to the specific needs and concerns of both the buyer and the seller.
• Clarity and Protection: Provides clarity and protection for both parties by clearly outlining expectations and responsibilities.

Drafting and Negotiation

Special conditions should be carefully drafted and negotiated to ensure they are clear, enforceable, and adequately protect the interests of both parties. It is advisable for both buyers and sellers to seek legal advice when including special conditions in a sale contract to ensure that all potential issues are adequately addressed and that the contract complies with relevant laws and regulations.