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    43 views25 pages

    CPPDSM4008A

    Uploaded by

    Malkeet Singh
    4008

    Copyright:

    © All Rights Reserved
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    REIO Office use only Ess CPPDSM4008A Identify legal and ethical requirements of property sales to complete agency work Please reed through this assessment and make your selections using either a black or blue pen. |tisimperative that you retain a copy of your assessment [original or resubmitted) prior to sending to the REIQ for marking. Shouldan assessment be lost in the mail or in processing before a result is recorded, you will be required to provide your copy as a replacement or complete the entire assessment again. Ifyou are asked to resubmit an assessment you MUST return your resubmitted assessment withyour original or previous assessments. Before returning your completed assessment ensure your contact details are filled out in full and you have read and signed the dectaration below. Ifthe declaration is left unsigned the assessment willbe returned (unmarked) to you for your signature First name Last name Phone Mobile Fa Email TRAINING DELIVERY: Location Trainer [Contact Distance Education Rela OFFICE USE ONLY: Has this assessment been reassigned? DECLARATION: | certify that the work in this assessment is my own. | acknowledge and understand that if | copy another studentor trainee’sworkand thisis made known to or suspected by the REIQ, the REIO reserves therightto further assessment. / 12 [o Signature Date ee ee eeccelmice cess ASSESSMENT RESULT Competent Not yet competent Resubmit is required Comments: This assessment instrument has been developed with reference tate elem and performance criteria, required skis and knodedge, he range statement and the teridence guide for this unit of competency This assessment precesshas been conducted with referenca tothe eriel aspects for assessment and evidence required to demonstrate competency in this unt. Thisassessmentinstrumant forme parol the overall avdence of competence for this uni of competency laupparted by relevant supplementary evidence or progressive assessment of competence conducted in class bya trainer or bya ditance education aczese0r. / 1 {2 |o ‘Assessor Signature Date GM Malus ae cet eee esaia co t= racer (UD) ae utes ls koset eGo Solve ay ‘ainers comments: CPPDSM4008A \ YREIQ PART A - Multiple choice questions Please study the questions below and select the most correct answer. Students are advised to record their answers on the marking grid at the end of Part A. 1. What should a seller be able to prove before the sale of the property? All council rates and charges have been paid ‘The property is mortgage free Registered ownership of the property for sale ‘The property is encumbrance free 2. When a property settles, agents must not release (disburse) the deposit or any monies to any party, until written instructions have been received from: a. The buyer or buyer's solicitor b. The seller or sellers solicitor ©. Both seller and buyer or their respective solicitors 3. If the property ownership is tenancy in common, are the tenants required to hold equal shares in the Property? a Yes b. No 4. If an agent is requested by the client to give information about the price a property is likely to be sold, is the agent required to give a either a comparative market analysis (CMA) or a written explanation? a. No b. Yes 5. During the process of listing a property for sale, the client instructed the agent to sell the property at the client's nominated price. If the agent considers the price to be too low, due to the market conditions, should the agent inform the client that the selling price is substantially too low? a. No b Yes 6. An agent must conduct a title search or some form of ownership search before listing or pricing a property. Does the agent have a duty to update information by conducting further searches when necessary? a Yes b. No 7. Prior to the appointment to sell residential property where the appointment is either an exclusive or sole agency listing, the agent is required to clearly bring to the attention of the client the differences between an open, sole or exclusive agency listing before the Property occupations Form 6 {appointment of agent form) is signed. What are the consequences if the agent does not comply? a. The appointment may be considered to be invalid b. Agent is entitled to only half the commission ©. Nothing as the appointment is considered valid 8. The listing agent of the seller's property is invited to conjunct with another agent who is willing to introduce a prospective buyer. Does the listing agent have the discretion to accept or refuse a conjunction without receiving instructions from the seller? ‘a. Yes—whether a conjunction arrangement is made or notis at the agent's sole discretion. b. No—the client must approve ALL conjunctional arrangements ¢. Either a or b depending on the clients lawful instructions ‘DRED vies Desmberioe cPDSMROOEA XN YREIQ 9. In regard to Beneficial Interest, is a “cousin” included in the definition of an associate in accordance with the Property Occupations Act? a. Yes b. No 10.Your searches reveal a property is registered on a COMMUNITY TITLE SCHEME. What additional documents must the agent SPECIFICALLY provide, along with the contract documentation, for this type of transaction? ‘A Property Occupations Form 7 Disclosure of beneficial interest to seller Lands not useable for residential purposes statement Property Occupations Warning Statement BCCM Disclosure Statement (Section 206) ab&e 14. What indicators should the agent consider when determining the best method to sell a property? The property The market The seller ‘The effectiveness of each method of sale All of the above paogp Now that you have read through the multiple choice questions in Part A please CLEARLY MARK your selected answers below. : Question? | [a] [{[b|[e][a|[e][Ff CPPDSM4008A Question2| [a] [b|[e][a][e]|[F Questions] [a] [b][c][a][e]||Ff Questions] [a] [b][e][a][e]|[f Question 5 a b c d e f Question 6 a b c d e f Question? | [ a | | b c d e f Questions | | a | | b c d e f [questions | [a b c d e ft Questionto] [a] [b][c][d][e]|[F Guestiontt] [a] [b][e][a][e] [Ff ‘BRIG VBS Decarber 201 7 CCPPOSNGDR \ REIQ PART B - Short answer questions. Question 4 Registration of land title under the Torrens System has three basic objectives. What are they? 1. Question 2 What is the difference betwee the Do Not Call Register Act? inferred consent and express consent with respect to telemarketing as per Question 3 You are required to explain to a buyer the obligations of the cooling off period. Please explain: a) when the cooling-off period commences b) the deadline for notification by the buyer should they choose to terminate the contract during the Cooling off period ¢) the penalty that the buyer may be required to pay to the seller in the event they terminate the contract using the cooling off period ‘BREOVIES Docember2074 3 ‘cRPOSiaCER \ S'REIQ ‘Question 4 You are employed as a real estate sales person and hold a certificate of registration. In early December, a seller engaged your agency to sell a unit complex of 30 residential units by signing the appropriate Property occupations Form 6 (appointment of agent). Your sister would like to invest in this unit complex by buying one of the units. What advice would you give your client concerning beneficial interest and what documentary process would you undertake? Your answer must include the statutory form you would need to use to disclose the beneficial interest. Statutory Form: Question 5 When is an agent entitled to receive commission for a real estate transaction? List 3 points as part of your answ ‘OREO vib Decemberaute @ ‘CPROSWADDIA \ ‘REIQ PART C - Case Study You are required to prepare a Contract of Sale and other relevant documentation in preparation for a buyer to sign the paperwork, based on the case study information below. Please note: you are required to complete all necessary documents required for a sale of a residential property. This assessment is based on current best practice recommendations and you will only reach competency upon completion of a valid and enforceable contract. Helpful Hints As the case study states; “prepare the contract and associated documents for the buyers to sign”. You will be required to complete the Contract of Sale along with a PO Form 8 — Disclosure to prospective buyer - DO NOT date the contract. You are given a Contract Date for the purpose of being able to calculate the dates for other conditions noted in this case study. In the real world a contract would not be dated unti all parties have agreed on all the terms and have signed the document. - DO NOT sign or date the contract on behalf of either the buyer or seller. You are preparing the documents for the buyer and seller to sign themselves, - Ensure the sellers names are the same as the title search provided in this case study - Ensure buyers details are the same as what is provided in this case study = Give correct ‘present use’ in the contract documentation ~ Ifthe tenants are not staying on as part of the process (vacant possession may be required) ensure that no tenants details are inserted in the documentation - When calculating the settlement date please ensure that the day you select is a business day - To help calculate all dates needed for the contract (deposit date, finance date, building & pest inspection date and settlement date) we advise you to create a timeline to work this out. There is an example in the manual that you can use for guidance in Unit 18. - Ifyou have access to Realworks you are encouraged to prepare your documentation using this program. If you don't have access to Realworks please use the blank forms provided in this assessment to complete your case study Property occupations Form 8 — Disclosure to prospective buyer - Make sure the form is completed in its entirety including the buyers names in Part 2 and the agency details in Part 3 ~ Insert the correct disclosures, agency details and the date that the agent would sign this document (remember disclosures should always be prepared and signed before they are presented to a consumer) ~The buyers need to raise finance and have asked your agency for details of a finance broker. Brent ‘Smith from Abel Finance can arrange finance on the best terms and conditions available in the current market. If they decide to proceed with the finance package arranged by your broker, the agency will receive $250 for each loan successfully finalised. = The date to prepare the PO Form & will be 28 January 2015 ‘BREIG ibs Demamber OTe 7 ‘CPPDSMAOOA \ REIQ Contract of Sale - Residential House & Land Contract Date 28 January 2015 PLEASE NOTE: This date must NOT be inserted in to the contract document. You have been provided this date to assist in calculating any condition dates you need for the contract. At this point you are preparing the document for both the buyer and seller to sign Seller Daniel John JONES & Lisa Jane NEWTON Unit 203 / 500 Adelaide Street, BRISBANE QLD 4000 Phone: (07) 3262 1111 Sellers Solicitor Bradley & Partners PO Box 12, MORNINGSIDE QLD 4170 Phone: (07) 3800 4046 Fax: (07) 3800 6464 Email: info@bradiey.com.au ABN: 22456 Ref: Jack DUNNE Buyer Adam Scott DRIVER & Amanda Jane DRIVER 17 Cianthus Street, WEST END QLD 4172 Phone: 0410 612 741 Buyers Solicitor ABC Solicitors PO Box 121, BULIMBA QLD 4171 Phone: (07) 3912 1672 Fax: (07) 3912 1673 Email: abc@abosolicitors.com.au ABN: 73157 Agent NJB Pty Ltd trading as REIQ REALTY 21 Turbo Drive, COORPAROO QLD 4151 Phone: (07) 3249 1111 Fax: (07) 3249 2222 Email: info@reiarealty.com.au Licence Number: 9658245 ABN: 82 651 987 123 Address of Property to be sold 101 Ellerslie Road, MORNINGSIDE QLD 4171 Real Property Lot 69 on RP 71567 = County: Stanley Parish: Bulimba Title Reference: 6179435 Size of Property | 1,076m2 Land sold as Freehold Present Use Residential : eee Local Brisbane City Council Government. Encumbrances Easement Number 168532 Excluded Westinghouse Dishwasher Serial Number: 12345. Fixtures Included Chattels | Kelvinator Fridge Serial Number: AB132 ‘@REIG vi6.3 December 2014 o ‘CPPDSN4005% \ REIQ Tenants Details Daniel & Jade LEVEY Term of Lease: 12 months commencing 5 January 2014 Rent: $560 per week Bond: $2,240 PLEASE NOTE: at the point of preparing the contract the tenants are still residing at the property. Pay particular attention to the type of lease that they would be on when calculating your settlement date. Deposit Holder NJB Pty Ltd trading as REIQ Realty REIQ Realty Trust Account BSB: 064 910 Account no. 1000 1192 Bank: National Australia Bank Contract Price —_| $476,000 Deposit Total Deposit: 5% of the contract price PLEASE NOTE: The deposit will be paid in two instalments with the first instalment just enough fo cover the termination penalty of the cooling off period (should the buyer elect to terminate the contract under this provision), The 2nd instalment will be the balance of the 8% & is payable on 18 February 2015 Finance Finance amount: $250,000 Financer: Westpac Finanee Date: Allow 21 days from the contract date PLEASE NOTE: You MUST insert an actual date in this section to reach competency for this case study Building & Pest Inspection Date Allow 14 days from the contract date, PLEASE NOTE: You MUST insert an actual date in this section to reach competency for this case study Safety switch and The property has both an electrical safety switch & adequate smoke alarms installed smoke alarms Pool safety The seller has provided a copy of the valid Pool Safety Certificate to the buyer prior to the contract being signed. Neighbourhood _ | The property is not affected by an application, or an order made by, the Queensland disputes Civil and Administrative Tribunal (QCAT), in relation to a tree on the land Settlement date | The buyer would like to occupy the property once the contract settles, meaning vacant possession is required as part of the contract terms. In order to calculate the correct settlement date you will need to take in to consideration when itis best to give the tenants notice to leave under the terms of their tenancy. Remember, depending on the type of agreement the tenants are on will determine how much notice must be given on their RTA Form 12 Notice to leave, (Once the tenants have vacated the property the property manager will need 2 business days to conduct the vacating inspection & arrange any remedial work, if need be. For this exercise we will be hand delivering the RTA Form 12 Notice to leave to the tenants and assume there is no delay in the finalisation of the tenancy, before settlement occurs. It's important to calculate a settlement date that falls on the earliest business day (once all conditions have been met, and the tenants have been given appropriate time to leave and the property manager to finalise the tenancy). ‘DREIO Vis Deseo 3 CPROSWAOOTR \ REIQ Property occupatio: Zt) Queensiand Disclosure to prospective buyer —What we must tell you before you sign Property Occupations Act 2014 “This form is efective from 1 December 20%4 ABN 13 846 673994 WARNING ‘The buyer is advised to seek independent legal advice before signing this form. The buyer must sign ths form BEFORE 2 contract fer sale ofthe property is signed. lryou need more information about this form including what an agent needsto cisclose,youcan ithe Ofice ot Fai Fading webste at rw ftrading lé gov aur phone on 3 QGDY (1 74 68) Gormeea nacre leak provide dati ofthe | propery. Descriation of roperty 7 | Address SUBUD een i satel osteodel ILI Let eae sees Pla Tie eren 6 aon PorishyCounty Part 2—Disclosure to prospective buyer— (property agents and property developer: Insertreteredensty's tall | Agent or beneficiary Relationship to agent Benefit) or value name rwhere apaleable registred business name Tbe signed bythe buy wheres preperty agent ot property developer nas ees Fetered the buyerto anyone for services (persenal commercial) and veclves of expects e receive benefit (nonetary or otherwise from the rferal or promotion of the propery. Notes The property agert cr developer may ether Uwe, the buyers, dosiare the agent has daclosad the rect and/or indirect baneits ited complete this sation or sttach annexures. In ether case, the buyer's declaration | Buyernsme. aed | disclosureis listed. Sojersenelt a YY | Buyer signature atel LLL na Buyer signature pe Datel, WOOO fae why yyy ‘SREIG Vib a December 3074 © CPROSMAORA REIQ Property developer or property agent details and declaration Property developers only | []. Lamaproperty developer or person acting a a property developer and hold an interest of at are required to disclose their least B% nthe propery. interest ina development tha they reselling Theinfermatint hav provided inthis fermiatuetothe test of my knowledge information ané bolt tame 7 ; Fropedy desopers or j Signe patel I propery agents dcration |S oly! q Licenc/registration eet number (ice apie) ropeny age on) | | | Party expt Fam = Ve Decembw 20% age 22 ‘SRG Vi6s Bossman aT 4 ‘GPROSMADDRA Ss ‘REIQ Queensland WP Law Society ~REIQ inmats eee Bea Contract for Houses and Residential Land vent Eaton Rs cocumert hs hen approved The Rea Extae site of Queens Lmtd an fe Queers Law Seity incor as Dg suit th ate on purchase of fos and rea ann Quota except fo nee resident property which case the ssuo oF GST kabily must be deal mith By special condition ‘The Seller and Buyer agree to sell and buy the Property under this contract. REFERENCE SCHEDULE - fe arr roarcoes | Ee eee PARTIES SELLER suetre | i i. nae a be SELLER'S SOLICITOR ony oter ste neeeg 0 ne Byer rosteooe:|___ ee ‘BREIG Vib Decerbe: 2014 @ CPPOSMATDRR XN ‘REIQ BUYER ES eee eee f= WRRUSSSBSS ORGS EE Ta SSUSzT STS 6d SsinaaPaTETEESTSTSIEES ESTES! {SESS ES SESS ESSE E SEED en an nS n nD EnEESSOnEIES ny vou EEannISEEEEES) sure srare|__ posteone fom = - ~ SB GEC GB GPEC Pu a Hae PHONE ORK = am: BUYER'S SOLICITOR | or any emer ote rete the Sees Re ‘onTacr l nee PROPERTY tana: aoo2ess Ieee eee ea ae eat susune: ATE |_PosTooD= anon Evecare scoters ‘cour: Pari ‘ae Retwarens PEE SC a eee eel et eit etiam a Temes) tandsosas: [] Peemid [) aaeaold 1 goer sate ete Present Use ‘Local Goverment eluded Fcures: cluded Chattels: inmacs ‘GREG vi6 Ss Besember 2076 CPROSADOEA PRICE en oop et = racers maar een pecene eco See ees Teen os Serra rete nner peated below 5 [aos vat tan pai on ; ee snmp Gm ae pig tbe Coat a hd ye DSeimstinmestras|__w > SadBimaareepcoamae oa FINaNce France amount: 5| "oss ae free apc fancy and ange Dee ll a paar EEE eee eee eee eee eee eee ee eer Cee Pree France oa: | BUILDING AND/OR PEST INSPECTION DATE: Lr specton Date not compas th cana mapecton Date fotalieerte an nspaaon por sid se ose a UUATTERS AFFECTING PROPERTY ‘ar Crone Ctchoee siatetamsramseeen? [JW] — evesisuietoam earnaees; [}to C]vesinedot WA SE eee anaes stom Eahiee 2 — He is sit with vacant possession from seftiement. ser? Mir Foon ‘Seouaernanteacomnets are l te a eae Managing Agent: L Sone su: srare|__ osteo |__ yeight The. ‘SREIG i863 Desamber 2014 % ‘GPPOSHAODER \ YREIQ inmiacs Ee (Q1 Is there 2 pool onthe Land or onan adjacent land used in association wath te Lang O ves Gi No Clause 07 ofthis contract does not apply 2 he ansuerto Qs Yen: hae a Compliance o: Exemption © Corte eb pao ae te of ones ves clause 5312) apnties Tso Case apne excent for auction and some ter G3. sTthe answer io O2 is No, has @ Nove of na pool safety cottcate ‘been gen rior io contract? O vee Ow POOL SAFETY INSPECTOR Pool Safety inspector! Pool Safety nspeeton Date: ELECTRICAL SAFETY SWITCH AND SMOKE ALARM ‘The Seller gives natce to she Buyer that an Approved Safety Switch forthe Goneral Purpose Sosket Outet =: oe (Gale ticaver i appa) insted inte resicence T1notinstated inthe residence The Seller gives noice to the Buyer that a Compliart Smoke Alarm(s) sare: (Goee nchever is geod) insta in the residence Ci retinctaed in te residence YapUING TO SELLER Far to comply wan ene earSnoy Neauteronts son oe wah ‘usa pena VARIG TO BUYER: nw no Compianse or ‘Grit entrant Baer ‘Beane report as conta anf» Poa Sey Const atin Ba ar stot The Bayar cn ao twcame hale pay arcs csi recs ca wt Pot Eek Be comin rs on eneb umineregacmon Somapeamaae remeron tes i an. he Sete uncer ‘Sean is rte suhag Sesban 2008 ‘he Post 20 ms Be Rongeur the eulng Aat 17> and Batang Regan 2008, Caz 4.72) apes oxen eres corectis. ‘eipeg ans ga0 ase and ae ik Tae sschanmatb compe se Lan can WARNING: 2y ovng ae oc men orm in alton Se yar {Tara he Seb shoul oo end. WARRING: Fane 1 stl 9 Compliant smoke Zien ote indet ns iw nnd oe ‘Se es 100 ‘NEIGHBOURHOOD DISPUTES (DIVIDING FENCES AND TREES) ACT 2012 ‘The Seller gives notice wo te Buyer in aosordance with Secton 3 ‘ol the Netghbcurhood Csputes (bwaing Fences and Trees) Act 2012, ‘hate lan acne ttl tot aed yay epiaon mo notre ST geeeterey ar mpi ma ese oe, ‘Saver on the Land or i tect ty an apleaton oor an oer ade by, QCAT in Oi ranen ese eee ee AT {othe bye pre es rats con eee WApNING: ale to compy wi 289 Itai Bk Presa ‘as Ash 3014 by gg copy on aro snpicatin oh Biv te aoa) e Bir cgang oe anal eons Bipor "nat tn conraxt pra Senenere BREIO VSS December zaTe = ‘CPPOSIADORA SREIQ ‘The REIQ Terms of Contract for Houses and Resident Land (Pages 6-18) (Eleventh Edition) contain the Terms ofthis Contract. ‘SPECIAL CONDITIONS SETTLEMENT Settlement Oste: or nxt Busse Day tats nor Sisto Bayi Peco Place for Selement ascoane incre eis a ‘efrenc to Brsbane 2B. SIGNATURES “The contact may be subject a5 business day statutory cooling off period. A termination panaty of 0.25% of the purchace price appicn she Guyer terminates the contrat darn te statulry cooling of fered, [ris recommended the Buyer obtain an independent property valustion and independ legal advice about the Contract and his or her esoiing-ot rights, batoresigeng ever: ness: bayer: = ae Sele ness: epost Holder ins sextape gag ened Int Dat age ‘phot wana ary Bue Oxpat whence ‘Bagot rf ares a road te Coie inmats Oe eel ‘@REIO Wi6 December 2014 © CPPOSIODEA REIQ TERMS OF CONTRACT FOR HOUSES AND RESIDENTIAL LAND 1. DEFINITIONS 14 inthis contract (2) Terms bo inthe Reterence Schedule have the ‘Reanigs Shown onposte eth an (2)Uniess be context eherise nical: 6) "Approved Satety Swit moan esd Galen’ gevce a= etned inthe eco Satey Fepuason Sore (e) “Balance Purchase Price® means tne Puchase Pree: eos the Depost agusted under case 23, (0 fen meane an autora pest ng ition wn tne meanng che Banking Act 1559(Cn) (© "Bond means a bond under the Resident Tenancies and Roomng Recommosaton At 2008 (© "Building inspector" means «pesen cence o catty outtomplte reser acing pees Shwe the Queensland Buisng and raieese Sonim Reuter 2005, () "Business Day” means a day oter than () a Saturday or Sunday, {0 2 puke naicaym tne Place fr Settement ane {ida day nthe pores 27 to 21 December (acute) (© *Compianee or Exemption Ceriate” means () aoa SatetyCertfete or 0) Bling Certs ht ay be ues instead Post Safety Cort feate er Secton 2482NG) of te Balog Act 1975 oF (nan exemton om compliance on te rounds § impracticality under Section 2458 of the. Sulang act 1973 €) SCompian Smoke Alarm” sears a smoke arm corning aioe eats he Chath Fre and Energon Serivces Aa 1905 ©) “Contract Date” or “Date of Contact” means the date nzonsd nine Reeves Sees © ‘Court intues any trbunal stashed under sae (© "Encumbrances" nudes 0) unvegetered encumbrances (Sauter encamerances, aa {Ghsecumy terest (0 “Essental Term incudes, inthe case of breaa oy 6) the Bayer causes 22, 25) $1 and 6.2; and (he Seer causes 5115 43} (4 5.3(1)(2)(ii) & (ii), 5.3(4)(, 5.5 and 6.1; but noting nts dentin pecudes a Coun Fomtnary oer ernst te essen (=) “Financial instution® means 2 Bark, Buidng Sonetyr edt Union; (©) SGeneral Purpose Socket Outlet” reans an etna! soar ters dchnedn he Becca Sey equa S013 (© 56ST" means the goods an seroes tax unter meester (© “GST Act” means A New Tax system (ods ” and Sees Sa Ac en cas eos et rested iogslaion (@ “Improvements” means tied srucures onthe Und snd tnsuces a tase oon ach INTALS. ses. te gros ape ct, Sa eet aie oee, Seca eevee teach 0) Moe nensioe cet se ne i memo eg ea Se geen a eeey Seon o Sian ou conte may (paseo or tare: nee eiresense 1) Satine nee tems ‘ec eaeotemie rem ara, oa iacarts Seer 0) orang secon ed isoprene mee gezesotn iar: anew ca ae (Rae nengerecoienat sep meats es ee aoa eeea mee, SERGE cmeeoeaee 0 Sele Seok peat Seeremien eras (ey cn aed SO eane meine tees Sib heatoreean rset, F Renee bayer ianieacre (ieee chen ve ston 0» Spotatey nena cae oot oereee ae Saget Gen tant an os Sedans sen ese eee (at nes Pen te $e ae arene Sena ee oo emsrace oe 8 a ens Sushma an pra one co oven (‘ered pee teens SESaer mneee mastucs (eye ae pgm es CRIN nee deatey (ff) “Transfer Documents” means: () the form of transfer under the Land Title Act opment ate te ee oes yee See eal yon the transfer; and tH iad cated nthe Tenspor inrasmctar act 1664, ‘BREIG Vib 3 December aT 7 CPPOSMADORA As, REIQ 2. PURCHASE PRICE 24 est (2) Unless otherwise specified inthis contract, the Purchase Pres nce ay GST soya ovine apny che Prone tote Sher eit ear le egureso make any ter paynentor rebtsueement ree acoegte ne een ‘Smnbursenent woe recoes bye ey [orcs fownih he ae pay rs IGpeseiaive menberiors Ge¥ gus lunch tis Thrbay were 22 deposi {the Buyer mst pay te Deposit oe Depost Holder nthe ines shomn hfe Sohehue. The Bepeat Picker wl Rod Beat uals sey Sereceriaders the Boyett So tet (2) dos nt pay tre Depest wen required; {S pave bepost pa posted chee: or {8 fay ne bepoat by cheqve wheats shone on pesertaicn cay me Sale ay rood fon be Buje asa euiated Chany and e Ceost nihil Sle ae one 23 Investment of Deposit t {ithe epost Holders insted by eter he eter peposs ne (2) itis lawful to do so; the Depost Helder mist {@)imestas much ofthe Depostas hasbeen pid wth sry ensncal nonunn han eres pean saunt inte names ofthe priesand (@)prorde te pares axe numbers tote Financial Institution (if they have been supplied). 24 Entitlement to Deposit and terest (@) Te pary ered wo receve he Depost (fine conrac sties th Se {3 fins contacts wrinated weet detaut bythe ‘the Byeand (6 BAS com eaS inated ovina he Buyer's dealt Sete (2) Te imeret onthe Dopo must be pai tote person ho wanted tothe Depot (@) tthe conracttarnated, the Buyer hes ber Gam onoetreezves the Segue sh tea ules fhe anemic ee Gales dears ata (Te Depadt 6 veced atte rskot he pay who is Tima eros ot 25 Payment of Balance Purchase Price 4) On the Salem Date, the Buyer must pay te (1 BBanco Burchase Pe by tank oqseey te Sxiorer ne Solers Soler dress 2) Desa any cher provson ffs conrad, avetrence Oeste theque! cause 250) fe) notes a cheque dra by a Bulting Society or 8 ‘Credit Union on itself; ve eee (& does not nde cea eran bya Buin 2 ‘Society or Credit Union on a Bank; E and the Seles ret chigd to accept cheque feed cause 2650) on he Sete at, mums 26 Adjustments to Balance Purchase Price {The Seler sae for Ougoigs and sented shen ipo ane rlog Satenc e {Tae Buyer's itl tar Outomgs and ened DRen’ ae the Setfemed Dae, (@ Sudjcttociauses 263), 2 68), 26(), and ” Sota, Ouigangs or acids Reudig ie Betieront Sate ust be adjusted (@) for those pad onthe amour pac {5 for those assessed but unpad onthe amount Beyable(exchatng ary dscoun) an (o forthose not assessed () one amount the reevartauory aavses ‘tbe assessed (eccudng any cseoun o (i fino advee onthe assessmentto be made ‘srahabi,on the amount ofthe latest Sopuriesicescment fxcuang any aiccour. (9 ifthere sno separato assessment of rates forthe Uandat the Semen Date an ine Loca Government forme tie Buyer tet vl not fpporton ates benvaon fe Buyer and Seler, an (2) te amount of atest be adusted i that Hopton ofthe assent cule to ithe aren of te Land othe eta of he pare! inthe assesement an (0 tan assessment of ates includes charges Impose on ape bast te fe ton ctivose charges to Be atte ee amount ‘Ssossed dive bythe rumoer of ts n tat seessitent (0) The Seleris habe fr land tax assessed on the lid forte nancial year curenrat he Sotfement Date land tx sung af te Settement Date fd the Oies of Sate Revenue adsos ta til ‘Shue sna lerancefortoe Land on payin ot ‘Spectied amour hen tne Buyer may Coduat he Spsctiec amount tom the Balance Purchase Pree a setlerent ane must pay Krom the Ofer ata Revenue (©) Any Outgoings assessable on the amount of water used must be adjusted on the charges that would be astessed on the total water Usage for he assessment period, determined by assuming that the actual rate of usage shown by the mete reading made before settement continues throughout te assessment period. The Buyer must obtain and pay for the meter reading, (©) any Outgoings are assessed but unpaid at te Settement Date, hen the Buyer may deduct the amount payable from the Balance Purchase Price {at setlement and pay it prompt tothe relevant ‘authority, fan amounts deducted under this ‘Clause, the relevant Outgoing wl be treated a, Bal a he etlementDate rie puroses of (7) Arreais of Rent for any renal period ending on or before the Settemant Date belong to the Seer and are not adjusted at setlement (@) Unpatd Rent for the rental period including both the Senlement Date ana the folowang day ('Cutrent Period’) isnot acjusted unt itis paid (6) Rent already paid for the Current Periad or beyond ‘must be adjsted at settiement eee ‘EREGVI6S Decemberz08 @ ‘cPRDSTNOER A, REIQ (00) Rem payments are reassessed ater he Setterient Dao for needs reusing the Settement at, an acdtional Aen payment ifoma Tenant ekind due toa Tenant must ‘be apportioned under clauses 2,6(7), 2.6(8) and 2.6(9). (2 Payments unde cus 2.630) mse made within 14 days after notification by one party to the other but ony ator any adtbonal payment ftom Tenant ntseen recevee (12) The cost of bank cheques payable at settement: {@)to te Sele ots mongagee are the responsibly of he Buyer and (0)10 partes other tran te Solr ots margegee ae the responsibilty ofthe Seler. (29) The Seler not ented to requre payment of he Belence Purchase Pree by means oer an Bank cheque wiht te consent ofthe Bue. (14) Upon writen request by the Buyer, he Seller wi, (4 sferio senor ge the Bur a rnen $Eatement supporcd by reasonable evidence {@)at Outgongs and al Rent forte Property ihe exe hey are not capable of Gseavery By search or enquiry at any office of bie ‘cord or pursvsnt ote pve 6 any 0) ary ot ork which the Buy Sny ofr ntomaton which the Buyer may ‘elconaby roqure forme purpose of Crlcuatng or Soporsonng any Ouigongs or Rent uncer tha Geuse 2 itt Seler becomes nave ofa change tthe inlormaten provided te Sele villas Soon 2s prachoably provce the ipated information 1 fhe Buyer FINANCE, 1 This contract is concitional on the Buyer obtaining approval of a loan for te Finance Amount from the Fhancir by the Finance Date on terms satstactory to the Buyer. The Buyer must take al reasonable steps 10 obtain approval 32 The Buyer must give notice tothe Seller that @) approval has not been obtained by the Finance Date She the Buyer termnates this contact OF (@) the fnance condition has been either satsfled or waved by the Buyer 33 The Seller may terminate tis contract by notive tothe Buyer ifnotice is not given under cause 3.2 by Spm on the Fnanee Date. This isthe Sellers ony remedy for ne Buyers faiure to give notice, 34 The Selle’ right undor cause 2.3 is subject tothe Buyers contring ght to ge wrten notice to me ‘Sele of salisfacion, temmivation or waver pursuant 10 clause 32, 4, BUILDING AND PEST INSPECTION REPORTS AND POOL SAFETY 4.1 Building and Pest Inspection (@) This contract is conditonal upon the Buyer obtaining 2 whiten Building Report trom a Building Inspector 42nd awit Pest Report Fom a Pest Ins Spector (which may be a single repor) on the Property by the Inspection Date on terms satisfactory to the Buyer ‘The Buyer must take all reasonable steps t obtain ‘he reports (subject io the right of the Buyer to elect to obtain ony one of te repos). inmats (2) The Buyer must give notice w the Selle that: a satsfactry inspectors repet unde Cause Ta) has nooeen obaines by te Inspection Date and the Buyer terminates tus contact. The Byer must act eesonaby, or aause 4.10) has been elie saisfea or waived by the Buyer. (@)iftme Buyer terminates this contact ane the Seller sks the Byer for @ copy ofthe bul and pest ‘epontg, the Buyer must eve a copy of each report {othe Seles vathout delay. (4) The Seller may teminate tis cortract by notice to the Buyer notice isnot qven under clause 410) by spr on the Inspecton Date. Ths isthe Salis cofiyzemaay fer te Buyers faire to give notice (©) The Sellers rght under clause 4.1(4)s subject the Buyers continuing night to giv written notice {othe Solr of satsfacion termination or walver pursuantte cause 4.1(2) Poo Safety (0) this clase 42 apes i (@) tne answer © 02 of te Reference Schedule ISNoo: G2 hoi completes ane (oy ns eonracts nota conract oa ype refered {@inseaton 60d) ofthe Property Sceupations Act 2028 (2) This contacts condtonel upen: a) the issue ofa Poo! Safety Centficate: o¢ goo Seley nspector Seng Hoe of Foncontormty tty the works requved before 2 Poo! Safety Carica can be issued! ty the Boal Safely rapecton Date. {@ The Buyers responsible for arranging an inepeston ty'a Pool Salty inspector atthe Buyers cost The Serer actress {@ tne Buyer to arange ms inspection: and {0) the Poo) Safety Inspector to aevise the Buyer ttn results of te napecton and te gue the Buyer a copy of any notice Issued (4) a Pool Safety Certfeate nas not been issued by the Pool Safety epecion Data, he Guyer may fie notice tthe Soler mat ne Buyer {@) terminates ts contactor {&) waives the beneft of hs clause 42 he Buyer mass ct easonably (©) The Seler may teminate ts contrat by noice Bite Bert nonce et gn under don ‘2408 by Spm onthe Boo! Safely Inspection Date (© The Selers rgit under cause 476) 's subject to » fsbuyers cantnung righttogve writen note {ore dele of temnaton or waver pursuant fo Case £20) (2) The rich of pary wo terminate under this Cause 1B coases uoon Yeon ay that party of a copy of ‘Seurrent Pool Safety Ceres (@ ie Buyer terminates tvs convact under clause 1106) and tne Sele has ot obtained copy ofthe Notes of Nonconermity lssued by the Poel iter spac te Selor may equedls copy and be Buyer must provge mio the Scie snout dey Estate inst Poe ut BREIO IES Bacamber 251— © ‘CPPDSNAGDOA \ ‘REIQ 5. SETTLEMENT 5. Time and Date (2), Settement must occur between Gem anes apm AEST on ine Setlement Date. (2) Ite partes do et aaree on whee setlementisto Dota must fake piace inthe Pace for Settemest Stine offeeo a sohtor or Francia nsttaton Aomnated byte Sele, or in Sele” does not ‘make a nomination, at the Land Registry Offee n Screares fo he Pace for Setement 52 Transfer Documents (Q) The Transfer Documents must be prepared by the Buyers Sovetorand eavored wo fe Seller ‘reesonhie ime betore the Setlemont Date, (2) Ifthe Buyer pays the Seller's reasonable ‘expenses itmeyrequre the Sele to preduce the Transier Dotaments at ihe Office of State Revenue nearest ne Pace for Sotierent fot Stmpng before setioment 53 Documents and Keys at Settement A) Inexcnange for payment ofthe Gaiance Puchase (ree te Seer ma dave te Sayer Setteinent (@)any nsument of te forte Land requreds ‘oegiterthe tanstecto he Buyer ayo (b nstamped Transfer Documents capabe of comme edraton oer sae. ar (©) any nsunert necessary to recuse a Entumarance over ine Propery m compkance ‘wtntne Severs obigtlon fv esuse £2, ana (q) if requesied by the Buyer not less than 2 clear Business Days tetore the Setiement Date. the Keys, ame (ooithere are Tenances: {) the Seiers copy of any Tenancy ‘screements (VD @ notice to each Tenant advising of the Salen form requred by awe and iay notice requred by lt tons © he Buyer the Solers meres m any Bone and (0 she anciver to Q2 in he Reference Sehedile is¥es, a copy ofa curent Complzce of Exempion Contes, not seedy povided tome Buyer (2) ttt insrument of efor the Land aso eltes {oomner land the Seer need not Geiver tio he Buyer, bit the Seller must make arangements Saltctory tee Suyerto produce t Br ‘egstranon of tre rater. (2) Ith Keys are net delvered at sertement under Cause 8 906) the Soler must aetver tw keys {othe Buyer Me Seler mey discharge te opsgaton ar win by auoang he Sle’ Agent to release the Keys to the Buyer. 5.4 Assignment of Covenants and Warranties Atsefement, the Seler assigns to the Buyer the benef of all: aes oe (0) “covenaris by te Tenants under the Tenancies: (2) guarantees and Bonds (subject to the requirements Stine Residenza Tenances and Resring ‘cconmedaton Aci 2008) sspoorang ine Tenancies: (©) manutactirers warranties regardng he eluded hates and (@) Solder! warrantes onthe Improvement; Inmiats 56 62 to the extent they are assignable. However the right to recover arrears of Rent not assigned to the Buyer and Section 117 of the Property Law Act 2974 does not 2p. Possession of Property and Tile to Included ‘Chattels ee ‘Onthe Settlement Date, in exchange fr he Balance Purchase Pia, to Salar must que to Buyer vacant fosuceon alte Land anno Inport vert he Terances, he © he cued Chale passes st setter Reservations, {) The Seller must move the Reserved tems tom the bropery belore Sctionent @ The Seler must repar atts excense any damage lone tthe Mover ntemoving the Reserved temo ne Seler tals wo go sorte Bayer ay ‘eparrtat damage (© fany Reserved ems not removed before setement five conedered ckandoned snd the Sayer nay. Winoutimfng ts ahr nis, compete iis Contract and Soroprate Rose Reseed tems or dispose or tnem'n ay Way. (@ Te Selarindomvfes the Buyer agent ay > Yamages and expences resubrg fam he scion under dases's 6) 0° 00) Consent to Transter (@) te Land sid is leasehold tis conractis subject toary aocecery consent tote venue’ of ie ease to te Buyer bers ootaned by he Settemont Dat, (The Sees mest app the coset equred es Soon a3 possible €@ The euyer mis do evering reasonably requed ‘Dheip Soran ths consent yers Time Time ofthe Essence Tine ttn essence th contra excgt roqurding any spree between the partes on STiime of day tor setvement f Suspension of Time 2) This cls 62 apes a pay ie unable to (© ‘ovo aetlementeblgson soe ca.a Enneequence ofa Natural Desster Dut does not Spply where he iabily we atbutabe to {@} damage ta, destruction ofordeninuton in value sf te Property ot cher propery ofthe Sele orbuyer or (©) fermion or variation of any agreement Bemeen a party and another person whether ‘eletng tothe owen of finance he release tan Ereumbranco, tne sale or pirchase of Snather propery orotverwse (2) Time forthe performance of te partes settement obigation suspended vl ceases tobe of tre cecenee of the convant andthe partes are deemed nat to be m beach of ther settementcoigeions {@) An fected Party must tae reesonable steps to ‘mnimise te eer ofthe Nata’ easter ons Ty to perfor ts settement oiganens (Wen an ects ary 0 anger reverie rom performing ts settement obigatons due to the Natura Deaster the Aten Barty must give ihe omer pany a notee of ta fact prompoy ‘SREIG vib December 2074 @ ‘CPRDSAODRA (©) When the Suspension Period ends, whether notice under clause 6.2(4) has been gen or fot, ether party may give me other pay a Notice to Seria ANotce to Satie must be in writing and state: (a) thatthe Suspension Period has ended: and (0) a date, being not ess than S nor more than ‘10 Business Days affer the date the Notice {e Sette s ven, which shall become the Settlement Bate? (© tattime is of te essence. Wen Notice to Sette is given, time is again of the essence ofthe contract, Inthis cause 6.2 (@) "Affected Party’ means a party referred to inclause 62); (2) Natal Disaster means 3 tuna food, , earthquake, bushfire or otter act of nature: (©) "Settlement Obligations” means, inthe case ofthe Buyer, ts obligations under clauses Z5(2) ané 9214) ann the case of he Sele, ts obligations under clauses 5 (1), 53(i}ie)-(e) and 55, (@) "Suspension Period: means the period during aie the Aeced Paty (oc fot ne Buyer and Seller are Affected Parties, either if tem) remains unable to perform a Settlement obligation solely 2s a consequence ofa Natural Disaster 7. MATTERS AFFECTING THE PROPERTY Title “The Lend is sold subject to: (G) iy reservations or conditions onthe tie or the ‘ordinal Deed of Grant it freenol): or (2) the Conditions ofthe Crown Lease (ifleasehold). Encumbrances “The Proven is sold fee ofall Encumbrances other than te Tile Encumbrances and Tenances, Requisitions ‘The Buyer may not delver ary reqistons or

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