Sales advice

1.1 This Sales Advice is non-binding and does not create any obligation on the part of the Seller to sell, nor the Buyer to purchase, the property referred to herein (the Property). A legally binding arrangement will only be formed upon execution of a formal contract for sale (Contract) or a Put and Call Option Deed (Option Deed) signed by both parties on mutually acceptable terms.

1.2 The Seller is not legally bound to undertake or complete the proposed development referenced in the Property Details section of this Sales Advice. Any such references shall not be interpreted as a representation, warranty, or commitment by the Seller concerning any aspect of the Property or the proposed development.

1.3 The Buyer acknowledges and agrees that any representations, statements, or information (oral or written) made by the Seller that relate to the Property shall not be relied upon for any reason whatsoever and the Buyer further acknowledges that it shall only rely on the information contained within the Disclosure Statement, the Contract of Sale, or the Put and Call Option Deed as prepared by the Seller’s appointed solicitor and signed by the Buyer.

1.4 The Buyer agrees to pay the Initial Deposit to the Seller’s Solicitor and for the Seller’s Solicitor to hold the Initial deposit and to only deal with it in accordance with the terms of this Sales Advice.

1.5 The parties agree that the Initial Deposit paid remains fully refundable to the Buyer, unless or until a Sales Contract is fully signed, in which case the Initial Deposit will be dealt with in accordance with the terms of that Sales Contract.

2.1 The Buyer will pay the sum of ten thousand dollars ($10,000) (the Initial Deposit) as an indication of the Buyers legitimate intention to enter into a binding Contract to purchase the Property. For clarity, a confirmation of the transfer of the Initial Deposit is to be forwarded to the Seller or its agent in order for this Sales Advice to be considered valid.

2.2 The Deposit is to be paid into Bell Legal Trust Account at the time of signing this Sales Advice and upon execution of the Contract, will represent payment of the Initial Deposit.

2.3 If the Contract is issued and the Buyer does not execute the Contract for the dwelling reserved under this Sales Advice, in a form acceptable to the Seller and pay the balance of the Deposit of 10% of the price of the dwelling as required under the Contract, any rights of the Buyer under this Sales Advice will lapse and the Initial Deposit will be refunded to the Buyer (less a $600 Administration Fee, which the Seller may elect to charge in its sole discretion). In the event that the Seller becomes entitled to the Administration Fee in accordance with this Sales Advice, the Buyer hereby irrevocably authorises the Seller’s solicitors Bell Legal to withdraw from its trust account the Initial Deposit and pay to the Seller the Administration Fee for its benefit solely and return the balance of the Initial Deposit to the Buyer.

3.1 Subject to clause 3.2, the Seller shall be deemed to have accepted the terms of this Sales Advice only upon delivery of the Contract or Option Deed (executed or otherwise) to the Buyer by the Seller’s solicitor or agent. The Buyer has 10 (ten) business days to sign the contract, or the nominated lot will be put back on the market.

3.2 The Buyer acknowledges that the Seller may receive other offers for the same Property. In such an event, the Seller, its agent, or its solicitor will provide the Buyer with a Multiple Offer Disclosure form as prescribed by the Real Estate Institute of Queensland (REIQ). The Seller reserves the right to accept or reject any offer at its sole and absolute discretion.

3.3 Where the Seller rejects the Buyer’s offer, the Deposit shall be refunded to the Buyer in full and negotiations shall be at an end.