The agreement that sets the price, payment terms and conditions before ownership is transferred.
A contract of sale is signed early in a deal, often when a deposit is paid. It fixes the price, how and when the balance will be paid, what happens if either side backs out, and what the seller must deliver.
It does not transfer the property by itself. Transfer happens later through the Deed of Assignment and Minister’s Consent.
What to check
- Include a refund clause if the title fails Due diligence.
- Spell out who pays which fees.
- List the documents the seller must hand over at completion.
Related terms
General information about property in the FCT, not legal or tax advice. Rules, fees and processes change, so confirm the current position with AGIS, a lawyer or our team before you act.