You are invited to answer as many or as few of these questions as you see fit.
Tip:  You will need a printed current version of the Law Society | REIT Standard Conditions of Sale in front of you before answering (supplied with link).

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* 1. Is the Standard Conditions document user friendly?

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* 2. Is the preamble sufficiently comprehensive?

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* 3. Should Clause 2(a) include a provision stating what it means for the Deposit Holder to hold the Deposit ‘as stakeholder’?

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* 4. Should clauses 2(c) and 2(d) regarding the value of chattels be removed?

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* 5. Have sub-clauses 3(d) and 3(e) been found to be adequate and effective in practice?

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* 6. Are the time periods in sub-clauses 3(d) and 3(e) appropriate?

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* 7. Are the provisions of sub-clauses 4(a) and 4(b) an improvement on similar provisions in previous versions of the standard form contract?

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* 8. In what way, if any, are sub-clauses 4(a) and 4(b) less preferred than similar provisions in previous versions of the standard form contract?

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* 9. Does Clause 4 in your view require amendment?

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* 10. Although sub-clause 4(b) offers examples of legal restrictions, without limitation, should there be additions to the list of examples in paragraphs (i) – (iv)?

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* 11. Is the term “The Property is sold As Is/Where Is” sufficiently clear and unambiguous?

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* 12. Does the provision referred to in Q11 compromise the rights of a purchase pursuant to sub-clause 4(a)?

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* 13. Should clause 4(f) be amended to include rights for the party benefitted by a condition precedent when the condition is unable to be met?

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* 14. Are the provisions of Clause 9(b) satisfactory as a default position?  Bearing in mind:

  • The sub-clause is prefaced with the words “Except as otherwise provided…”; and
  • Simply saying that the Vendor makes no legally binding warranty, description, or representation as to the matters mentioned does not preclude other remedies being available to a purchaser such as pursuant to sub-clause 4(a).

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* 15. Should sub-clause 15(a) be amended to insert the words “at any time before or after completion of this Contract” between the word “Vendor” and the words “to contribute to the cost”?

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* 16. Should sub-clause 15(a) be prefaced with the words “Unless this Contract otherwise provides”?

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* 17. Have the provisions of Clause 16 been found to be adequate and effective in practice?

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* 18. Have the provisions of Clause 17 been found to be adequate and effective in practice?

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* 19. Have the provisions of Clause 20 been found to be adequate and effective in practice?

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* 20. Should the provisions of Clause 21 be amended to spell out the procedure that is actually followed in accordance with long-established custom? Specifically, the term “must be apportioned” in sub-clause 21(b) does not make it clear that, at settlement, a purchaser is obliged to pay relevant monies for rates and land tax.

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* 21. Should the contract provide that risk in the property and chattels passes to the purchaser on completion or possession (whichever is the first to occur)?

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* 22. Should the contract provide for disclosure of Neighbourhood Disputes About Plants Act notices/disputes?

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* 23. Should the contract provide for disclosure of:

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* 24. Should the contract contain suggested time frames i.e. for payment of the deposit, finance clause and inspection clause?

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* 25. Should the contract refer in greater detail to leases that affect the property and the respective rights of the parties

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* 26. Are there any other issues not covered by the document that should be covered?

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* 27. Do you have any other feedback (suggestions, complaints, recommendations)?

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* 28. Your name (optional):

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