The NSW Contract for the Sale of Land: A Buyer's Guide
The prescribed documents, special conditions and exchange, explained
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Most NSW homes are sold on the standard contract for the sale and purchase of land, with special conditions added by the seller's lawyer. The standard terms are fair to both sides. The special conditions are where the risk usually sits.
Optimum Lawyers is a property law firm in Parramatta Square, led by principal solicitor Wisam Assi. We act on purchases, sales, settlements and transfers in every Australian state and territory.

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The prescribed documents
The seller must attach certain documents before the property is offered for sale, including the title search, the plan, the section 10.7 planning certificate, the sewer diagram and any section 88B instrument. A pool certificate is needed if there is a pool. For units, strata information is often attached too. See section 10.7 certificates.
Special conditions to read closely
- Penalty interest or fees if you settle late.
- Limits on your right to object to defects or errors.
- Early release of the deposit to the seller.
- Conditions that let the seller delay settlement.
Exchange, deposit and cooling-off
The contract becomes binding when signed copies are exchanged. The deposit is commonly 10%, though a smaller deposit can be negotiated. Private sales have a 5 business day cooling-off period, which can be waived with a section 66W certificate, and there is no cooling-off at auction. See section 66W certificates.
Settlement
The standard contract sets settlement at 42 days after the contract date unless another period is agreed. If a party does not settle on time, the other can serve a notice to complete. See notices to complete.
What clients say
“He represented me through a time-sensitive property purchase and was exceptional from start to finish.”
Jarrod Oliver, Google review
Questions about the NSW contract for sale
When is a NSW contract binding?
When signed copies are exchanged between the buyer and the seller.
How long is settlement under the NSW contract?
42 days after the contract date, unless the parties agree otherwise.
Do I have to pay a 10% deposit in NSW?
Commonly yes, but a smaller deposit can be negotiated with the seller before exchange.
What documents must be attached to a NSW contract?
The prescribed documents, including the title search, plan, planning certificate and sewer diagram.
Related: Contract of sale review | Cooling-off periods | Section 66W certificates
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