Overall Assessment

Grade: Amber. The contract is broadly in order but contains two disclosure gaps in the Section 32 and one special condition that materially shifts planning-risk to the purchaser. Proceed with vendor amendments as recommended below before signing.

Standard Contract of Sale of Real Estate (LIV/REIV October 2023 edition), with 4 special conditions annexed. Settlement 60 days.

Key Risks

Red — Immediate attention

• Special Condition 17 (planning certificate). Vendor disclaims warranty as to accuracy of planning information in the Section 32 and refuses to provide a current planning certificate. Arguably offends s.32C of the Sale of Land Act 1962 and shifts due diligence onto the purchaser. Recommend insisting on current certificate and striking the disclaimer.

Amber — Verify before signing

• Section 32 — building permits. No copies of permits for the rear extension (visible in contract photos) have been annexed. Vendor should annex permit and occupancy certificate, or confirm in writing none exist and that works were pre-1994.
• Sunset clause — General Condition 11. 18-month sunset. Given current Monash Council approval timeframes, this is at the outer edge of acceptable. Flag to purchaser and confirm their appetite.
• Owner's Corporation levies. OC1 certificate dated 4 months ago; a fresh certificate should be requested before settlement under s.151 of the Owners Corporations Act 2006.

Green — Standard / no action

• Deposit 10%, held in vendor's conveyancer's trust account — standard.
• Finance clause (GC 14): subject-to, 21 days — standard.
• Cooling-off: 3 business days as per s.31 of the Sale of Land Act — standard.
• PEXA settlement — standard.

Section 32 Review

Disclosures present

• Certificate of Title (folio 9821/342).
• Rates — Monash Council, State Revenue Office, Yarra Valley Water.
• Planning zone: General Residential Zone (GRZ3).
• Owners Corporation disclosures for OC1 (common driveway).

Disclosures incomplete or missing

• Building permits. See Key Risks above — no permit documentation for the rear extension.
• Planning certificate. Annexed certificate is dated 11 months ago. Request current.
• Bushfire declaration. Not applicable — property outside BMO.

Special Conditions (4)

• SC 15.Vendor's right to access post-settlement for removal of chattels — 7 days. Narrow enough to accept.
• SC 16. Purchaser acknowledges tenancy in dwelling ends 14 days pre-settlement. Confirm written notice to tenant.
• SC 17. See Key Risks — red.
• SC 18. Default interest rate 10% p.a. — above standard 2% over Bendigo Bank cash rate. Recommend striking.

Recommended Actions Before Signing

1. Strike SC 17 in its entirety; require a current planning certificate annexed to the Section 32.
2. Request vendor annex building permit and occupancy certificate for the rear extension, or a statutory declaration.
3. Request fresh OC1 certificate dated within 28 days of settlement.
4. Negotiate SC 18 default interest rate to standard (2% over cash rate).
5. Confirm tenant has received valid notice to vacate under the Residential Tenancies Act 1997.

Generated by ContractReview. Produced as a first-pass summary — not a substitute for your own review and professional judgement.