You may have heard that the standard Agreement for Sale and Purchase has recently been updated. No worries though -  the changes are mostly about making things clearer and fairer.

Here’s a simple overview of what’s new:

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More modern definitions
The agreement now recognises things like electronic keys, access codes, and garage door remotes (noting that these are different from the garage door electronic facility/system).

In short: it better reflects how homes actually work today.

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Clearer paperwork
Any changes made to the agreement must be clearly visible.
No hidden tweaks, everything needs to be clearly upfront and transparent.

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Title and legal checks
The process for raising and resolving legal issues with the property title has been tidied up.
This helps reduce confusion and delays.

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What must be working at settlement
Certain items must be in working order when possession is given and this now expressly includes like the automatic garage door facility.

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Building work disclosures
Sellers must warrant that any building work either has the proper consent or qualifies for an exemption (eg. granny flats), in other words the warranty covers all “restricted building work” not just work that required a consent.
This brings the clause up to date with recent changes allowing certain building works to be undertaken without the need for consent.

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Unit title properties
For apartments and similar properties, sellers are only responsible for matters they control (not the whole building).

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Finance condition
If a purchase is conditional on finance, buyers need to show a reasonable explanation of the steps they took to arrange finance, together with evidence, if finance cannot be obtained.  Previously they had to show a satisfactoryexplanation of the grounds relied on.
The use of the word reasonable suggests an objective standard.

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Raising issues early
If there are problems or claims prior to settlement, they must be raised as soon as reasonably practicable.
This helps avoid surprises on the day of settlement.

 

Privacy protection
Updates ensure your personal information is handled in line with modern privacy laws.

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GST clarity
Sellers must clearly state the GST position of the property, there is now an option of “N/A” available for sellers once they’ve provided their GST number.
This reduces the risk of confusion around the GST position and unexpected costs.

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What’s included in the sale
The list of items included with the property (chattels) has been updated and clarified. For example, items like heat pumps are now commonly included and the automatic garage door facility also makes another appearance.

 

Pet bond (tenanted properties)
For rental properties, the agreement reflects recent changes allowing pet bonds in some cases.

 

Overall:
These updates are designed to make the process clearer, more transparent, and better suited to modern property transactions.