Terms & Conditions

1. Definitions and interpretation

1.1 Meaning of ‘purchase’
‘purchase’/’purchases’ means the Purchaser and the Vendor have Entered into a Binding Contract of Sale in relation to the Property.

1.2 Meaning of ‘Introduced to the Property’
‘Introduced to the Property’ means the Agent made the Purchaser aware that the property is available for purchase, by whatever means, notwithstanding that the Purchaser may have been able to become aware by other means that the Property was available for purchase, and/or after being made aware by the Agent subsequently received information from sources other than the Agent that the Property was available for purchase.

1.3 Meaning of ‘Entered Into’
‘Entered Into’ means a Binding Contract of Sale in relation to the Property has been signed by and exchanged between the Purchaser and the Vendor.

1.4 Meaning of ‘Binding Contract of Sale’
‘Binding Contract of Sale’ means –

a contract enforceable by an order for specific performance or on the breach of which the Purchaser or Vendor is entitled to the
award of damages;
aright of first refusal;
an option to purchase

For the purposes of this Authority, a contract is an enforceable contract even though the Purchaser may or does exercise the right to terminate or rescind it in accordance with the Sale of Land Act 1962 or the contract is subsequently cancelled by agreement or rescinded or repudiated as a result of the default of the Purchaser or the Vendor.

1.5 Meaning of ‘Commission’
‘commission’ has the same meaning as defined in the Estate Agents Act 1980 ‘Commission’ is the aggregate of the Engagement Fee, Search Fee, Service Fee and Purchase Fee described under the heading Agent’s Commission in the Schedule.

Commission should not be a percentage of the purchase price as a purchase may not take place, and if a purchase does take place it would create a conflict of interest by giving potential to reward the Agent for spending more of the Purchaser’s money.

1.6 Meaning of ‘Purchaser’
‘Purchaser’ is the person named in the Particulars of Appointment or their nominee, assignee or Associate named as the purchaser in a Binding Contract of Sale.

1.7 Meaning of ‘Associate’ of the Purchaser
‘Associate’ of the Purchaser named in the particulars of appointment means their spouse, domestic partner, child, parent, brother, sister, brother-in-law, sister-in-law, child of their spouse or domestic partner, business partner, trustee of any trust or superannuation fund in which they have a beneficial interest, and any corporation in which they have a beneficial interest.

1.8 Meaning of ‘person’
‘person’ means a natural person of full age and capacity, a corporation or an incorporated association.

1.9 Meaning of ‘Vendor’
‘Vendor’ includes any person to whom the rights of a vendor under a contract have been assigned

1.10 Meaning of Exclusive Authority Period
Exclusive Authority Period

1.11 Meaning of Engagement Fee, Search Fee, Service Fee, Purchase Fee
‘Engagement Fee’, ‘Search Fee’, ‘Service Fee’ and ‘Purchase Fee’ have the meanings set out in the Schedule, under the heading Agent’s Commission

1.12 Meaning of ‘Agent’s Expenses’
‘Agent’s Expenses’ are the expenses listed under the heading Agent’s Authorised Expenses in the Schedule.

1.13 Meaning of ‘Authority’
‘Authority’ means this agreement.

1.14 Meaning of ‘GST’
‘GST’ means the goods and services tax payable on a taxable supply in accordance with the A New Tax System (Goods and Services Tax) Act 1999.

1.15 Meaning of ‘Property’
‘Property’ means land and/or a business that the Purchaser seeks to acquire or acquires with the assistance of the Agent under the terms of this Authority.

2. Interest payable on unpaid invoices

If the Purchaser does not pay an invoice issued by the Agent in respect of Commissions and/or Agent’s Expenses by the due date for payment the Purchaser will pay interest on the amount overdue and unpaid at the current rate fixed in accordance with section 2 of the Penalty Interest Rates Act 1983. Interest will be calculated and payable from the due date for payment of the invoice to and including the date on which the invoice is paid in full, if demanded.

3. Payment of Agent’s Expenses

The Purchaser will pay the Agent the total of the Agent’s Expenses on signing of this Authority, unless otherwise agreed. When this Authority ends the Agent will provide the Purchaser with an itemised list of the Agent’s Expenses actually incurred and any applicable State or Federal Taxes. The Agent will provide a similar itemised list at any other time reasonably required by the Purchaser. If an expense is not incurred any amount paid in advance for the Agent’s Expenses will be refunded

4. GST

4.1 Subject to cl 4.2, if the Agent is entitled to reimbursement from the Purchaser for any amount paid or payable to a third party, the
Purchaser is to pay the Agent the full amount paid by the Agent, including GST.

4.2 If the Purchaser’s reimbursement payment to the Agent is not a taxable supply, the Purchaser is not required to reimburse the Agent
for the GST component of the reimbursed payment.

5. Liability of a person signing on behalf of the Purchaser

A person signing this Authority on behalf of the Purchaser is personally responsible for the Purchaser’s obligations as if the person was the Purchaser. If requested by the Agent, the person will procure the signing of a guarantee and indemnity in favour of the Agent by the directors of a Purchaser which is a corporation or by the committee members and public officer of a Purchaser which is an incorporated association, in a form acceptable to the Agent’s legal practitioner.

6. Charge over Property purchased

This General Condition applies if –
1. the Purchaser is indebted to the Agent for an amount of $1,000 or more; and
2. the debt is unpaid for a period of more than 30 days after the due date or due dates for payment stated in an invoice or invoices issued by the Agent in respect of Commissions and/or Agent’s Expenses; and
3. the Purchaser has Entered Into a Binding Contract of Sale to purchase a Property.
If clause (a) applies, the Purchaser agrees the Property purchased or the Purchaser’s interest in the Property purchased is charged with the amount owing to the Agent together with interest payable (if demanded) and the reasonable costs and expenses incurred by the Agent in connection with
1. (i) if the Property includes land, the preparation and lodging of a caveat on the title of the Property and its withdrawal; and/or
2. (ii) if the Property includes a business, the registration and removal of a security interest on the Personal Property Securities
  Register(PPSR)
The Purchaser agrees with the Agent that the creation of the charge is reasonable to secure the debt owing to the Agent together with interest, costs and expenses and that this General Condition will continue to apply even if this Authority has come to an end.
The creation of the charge does not prevent the Agent from commencing legal proceedings about the debt owing by the Purchaser.
On payment in full of the monies referred to in clause (b) the Agent will promptly, at the cost of the Purchaser –
1. provide the Purchaser with a written acknowledgement that the charge no longer applies;
2. provide a signed withdrawal of caveat, if a caveat has been lodged; and
3. will arrange for removal of the PPSR registration, if a security interest has been registered on the PPSR.

7. Cancellation /termination of contract

If a Binding Contract of Sale is rescinded or terminated for any reason or in any circumstance, including but not limited to:

rescission in accordance with the Sale of Land Act 1962;
by agreement between Vendor and Purchaser;
as a result of default of or repudiation by the Vendor or Purchaser; the Purchaser must still pay the Commission and Agent’s Expenses.

8. Agent may sign contract of sale on Purchaser’s behalf

The Agent may sign a contract of sale in the name of and on behalf of the Purchaser at a price and upon terms and conditions advised by the Purchaser in writing, if the Agent has been appointed by the Purchaser as their Power of Attorney. The Purchaser indemnifies the Agent in relation to any liability whatsoever which the Agent may incur in signing a contract of sale as attorney for the Purchaser. The indemnity continues even though this Authority has come to an end. ‘Writing’ includes all modes of representing or reproducing words, figures and symbols in a visible form.

9. Agent may provide details of purchase

The Purchaser agrees the Agent may provide details of a purchase made by the Purchaser to the REIV and/or realestateview.com.au Ltd to enable either or both to collect and/or disseminate details of the purchase of real estate. The Agent may provide the details even though this Authority has come to an end.