"To the best of the REINSW's knowledge these contracts have not been tested in Court and until they are members should be cautious."
The Law Society of NSW and REINSW have jointly issued the standard Contract for Sale and Purchase of Land since 1972, and it has stood the test of time and legal challenge.
The latest 2016 edition of the standard Contract is available in digital form by visiting the ECOS website.
New interim update for 2016/17
A 2016/17 edition of the Contract for Sale and Purchase of Land was released on 21 June to take into account changes to the foreign resident capital gains withholding measure which began on 1 July 2017.
Find out more about the changes to the 2016/17 edition here.
A new 2017 edition is also expected to be released in July/August 2017 to take into account likely changes to the Conveyancing (Sale of Land) Regulation 2010, due to start 1 September 2017. It will also include other legislative updates including the new strata legislation.