In the process of buying real estate in Australia, the government has issued this set of policies, laws and regulations (related to Australian real estate law) in order to ensure the fairness and justice of the transaction and put an end to fraud. So far, the most common way to buy a house is through private treaty contract exchange. Whether through a real estate agent or directly with the owner, it belongs to this form, and another way is public auction. Property rights are transferred from one owner to another. There is still a lot of work to be done to achieve this step. Here are some basic steps. The seller declares the sales contract, Victoria sells the main statement, while New Zealand calls it the land sales contract. The seller's statement tells you a lot about this property. You can get the seller's statement from the seller's real estate agent, or you can ask the real estate agent in charge of auction or sales for this document before the auction. The seller's statement or sales contract shall include the following attachments: 1. Copy of deed 2. Copy of program certificate 3. Relevant certificates issued by the local municipal council, which should list in detail the use mode of the main land of the property and other relevant information. 4. sewer map. Letter of approval for house decoration in recent 7 years. 6. Copies of relevant documents and restrictive contracts of the building annex. 7. Statement of cooling-off period. 8. A detailed description of the existing mortgage of the property. 9. If the seller fails to disclose the above information when selling equipment or devices attached to the property in New Zealand, the buyer has the right to declare the contract invalid within 14 days after the contract exchange. The real estate sales contract is prepared by the seller. Generally speaking, the seller's lawyer will send the contract to the buyer's lawyer, who will be responsible for explaining the terms of the contract to the buyer. If there is no objection, the buyer will sign it. A formal real estate contract must have the names of the buyer and the seller, the description of the property, the price, etc. If both parties agree on the delivery date, it is very important to ensure smooth delivery on the same day. Contracts usually have a standard format and rarely need to be revised. Of course, special transactions can require special conditions. The buyer's lawyer or property transfer undertaker will carefully check the contract to prevent factors that are not conducive to the purchase and use of the property. These factors include: land use restrictions, sewer plans, contractual restrictions and seller's guarantees. If you expect movable parts of the house, such as stoves, curtains, carpets, lights, etc. If you want to sell it with the house, make sure it is included in the contract. Contract exchange Once the house inspection is completed and the financial arrangement is formally approved, the contract can be exchanged. This contract is made in duplicate, one for each party. The seller keeps the contract signed by the buyer, and the buyer keeps the contract signed by the seller. Generally speaking, the exchange contract is completed by the lawyer of the buyer and the seller, and also exchanged by the buyer and the seller themselves, but in order to avoid possible disputes, it is better for the lawyer to do it for him. What needs to be clear is that before the contract exchange, both the buyer and the seller are not bound and can terminate the negotiation at any time. The situation is the same in all provinces. If the seller signs the contract you signed, it will produce a binding contract. After the exchange of contracts, it does not mean that you have the ownership of the property, but if one party breaches the contract, it may lead to legal proceedings and potential claims. Cooling-off period means that the buyer is allowed to go back on his word within a certain period of contract exchange (5 working days in New Zealand, counting from the date on the exchange contract). However, if the buyer reneges after the cooling-off period, the buyer will lose 0.25% of the purchase price in the contract as a fine. The cooling-off period only applies to private agreement sales, not to auction property sales. Most new home sellers generally do not provide a cooling-off period. In Western Australia, there is no cooling-off period for any villa. If the property you buy includes both houses and land, the cooling-off period of houses and land may be different. The main function of the cooling-off period is to give the buyer time to get legal advice, make financial arrangements and inspect the house after the contract exchange. Once you find a problem, you can go back on your word (the buyer will be fined). The cooling-off period avoids improper decision-making behavior. If the buyers can't get the inspection results and financial mortgage before signing the contract, they may have to bear the risks. During the cooling-off period, the seller cannot accept any other purchase requirements. In the land use zoning system, the property transfer undertaker or legal adviser will check the approved use and use restrictions of the land where the property is located. This determines whether the local municipal council or public department can develop industrial zones or build expressways here. Model House Purchase and Sales Contract The text of Australian House Purchase Contract is 1. Of course, the price must be clearly marked; 2. Transaction date (that is, the date when you have admitted that the property delivered to you is in full compliance with the contract and are willing to own the property and pay the purchase price in full); 3. Movable property (all the properties included in the movable purchased property marked in the contract when buying a house, such as curtains and electrical equipment configuration, etc.). 4. Special offers or terms: for example, your loan terms and methods (related to Australian real estate loans). Special standards for housing quality requirements. And everything before the final transaction. What should be done within the seller's responsibility. 5. There shall be no unfavorable contents in the contract to the buyer or the user. 6. The sales contract must specify in detail the ancillary facilities and related appliances that you think should be included in the purchase right, such as the movable iron house in the ancillary facilities. 7. Only when you are satisfied with everything and the funds are approved in writing can the contract be signed. This contract is made in duplicate, and both parties sign their own house purchase and sales contracts. Then there is the "exchange contract", where the seller holds the contract text signed by you and you hold the contract text signed by the other party. It is reasonable that once a contract is signed by both parties, it cannot be changed. However, Australian law also stipulates a "cooling-off period". For example, according to Queensland government regulations, all residential transactions require a time limit for considering changes, that is, * * * five legal working days from the date when the buyer signs the contract with the seller or developer and receives the contract. During this so-called cooling-off period, the buyer can cancel the contract without giving any reason, even because the buyer suddenly changes his mind.