1 week after listing the property Mary receives the section 32 from Tina Azzopardi's conveyancer, so can now start the sales process.

Vendor Conveyancer:

Trenton Conveyancing

Level 1/120 Upper Raleigh Road Ivanhoe VIC 3079

(03) 9499 6177

Section 32 details

Vol 225896/ Folio 568 Lot 4

Plan of subdivision 1245896S Restrictive Covenant: Single dwelling

Having opened the property for 2 consecutive weeks Mary Ward has had a lot of interest and has forwarded several section 32's and Contracts for review. Mary receives a phone call from Maria Summers who has been through the property twice and reviewed the documents. Maria and her husband Dean Summers are wishing to make a formal offer to purchase 29 Maplewood Street, Ivanhoe, Vic 3079. Mary arranges to meet with them at her office later that day.

Maria and Dean make the following offer to purchase with a 10% deposit which is paid on the day of the offer being made which is accepted by the vendor

Mary has arranged to meet the vendors 2 hours after making the offer. They are very keen to hear from Mary as they have seen two properties on the weekend that would be ideal for them. They accept the offer and sign the contract.

a) Complete the Contract of Sale outlining the offer to the Vendor for their consideration. Additional details are as follows:

Purchaser details:

Maria Jane Summers and Dean Summers

115 Union Road

Heidelberg West VIC 3081

Phone: 9756 2588

Mobile: 0410 589

Purchaser conveyancer:

Janis Holland

SDA Conveyancing

88 Hawdon Street,

Heidelberg VIC 3084

(03) 9455 2011

Offer:

Date of offer 25 November 2019

Purchase price $1,650,000.00

10% deposit -paid on signing of contract

Balance payable in 60 days

Special Condition:

Subject to purchaser obtaining finance through Westpac for an amount of $ 500,000.00 within 14 days of signing of contract

b) Describe the process from acceptance of the offer through to settlement. Explain what the agent is required to perform and when in the time from signing of contract to the settlement day. You should cover at least FOUR (4) points in your answer.