Contract of Sale & Form 1 Preparation: Your Essential Guide for Selling Property in SA

The Contract of Sale is a legally binding agreement between the vendor (seller) and purchaser (buyer). It outlines the agreed sale price, deposit amount, settlement date, and any special conditions.

Key components include:

• Names and details of vendor and purchaser.
• Purchase price and deposit terms.
• Settlement date and conditions.
• List of included or excluded chattels.
• Any special clauses or subject-to conditions (such as finance or building inspection).

Once both parties sign, the Contract of Sale becomes legally binding, protecting each side and setting the framework for settlement.

Eckermann Conveyancers review each contract to ensure accuracy and that your interests are properly represented before it’s signed.

A Form 1, often called the Vendor’s Statement, provides mandatory disclosures about the property’s title, zoning, charges, and restrictions. It must be accurate and complete at the time of serving on the purchaser, as any missing or misleading information could allow the purchaser to withdraw up to settlement.

Typical details include:

• Title particulars and ownership details.
• Mortgages, easements, and encumbrances.
• Council rates, zoning, and planning details.
• Details of any leases or tenancies.
• Community or strata corporation information (if applicable).

Eckermann Conveyancers prepare and verify Form 1 documents on behalf of vendors to ensure compliance with disclosure obligations under South Australian law.

1. Engage a conveyancer early — ideally before listing your property, so guidance is provided from the start.
2. Gather all necessary documents, council rate notices, and ID documents.
3. Draft and review the Contract of Sale, most regularly prepared by your real estate agent once a firm offer has been received.
4. Prepare and serve Form 1 to the purchaser — this formally starts the cooling-off period.
5. Allow for review and signing by all parties to ensure everything is correct.
6. Proceed to settlement once all conditions have been satisfied.

Working with Eckermann Conveyancers early ensures both the Contract of Sale and Form 1 are prepared accurately, served on time, and fully compliant with South Australian law — helping you avoid costly delays or legal issues.

Selling property in South Australia involves more than signing a contract. Key points to consider include:

• Cooling-off period: Buyers have two clear business days after receiving Form 1 to withdraw (unless sold at auction).
• Vendor warranties: Confirm you are legally entitled to sell and disclose any encumbrances, easements or defects.
• Special conditions: Protect your interests with clauses if needed.
• Disclosure obligations: Form 1 must include all easements, zoning, and other required property details.
• Deposits & settlement: Ensure deposits are secure when transferring and the settlement date is met.
• Taxes: Stamp duty with likely apply when purchasing which your conveyancer can assist with and capital gains tax may apply when selling which your Accountant would need to advise on.
• Contract amendments & coordination: Any changes must be formally documented, and effective communication with the Agent and Conveyancers is essential.

For South Australian property sellers, accurate and timely preparation of the Contract of Sale and Form 1 is essential. These documents protect both the Buyer and Seller, ensuring transparency, compliance, and confidence at every stage of the sale process. Partnering with Eckermanns Conveyancers gives you peace of mind that every detail meets South Australia’s legal requirements.

By working with our team, you benefit from:

• Expert guidance: Ensuring Contracts of Sale and the Form 1 are accurate, compliant, and tailored to your transaction.
• Smooth settlements: Coordinating with agents, councils, Banks and Land Services SA to avoid delays.
• Clear communication: Keeping you informed at every step so you can sell with confidence.
• Local knowledge: Deep understanding of South Australian property law and market practices.

With Eckermann Conveyancers, you’re not just completing documents — you’re partnering with a trusted team committed to a seamless, stress-free property sale.