Understanding the Joint Form of General Conditions in WA Real Estate

• What Is the Joint Form of General Conditions?
• Why It’s Important for Buyers & Sellers
• Finance Clauses & Deadlines
• Disclosure & Encumbrances
• Settlement Delays & Penalties
• Why Your Mandurah Real Estate Agent Must Understand It
• Key Takeaways for Mandurah Property Owners

What Is the Joint Form of General Conditions?

The Joint Form of General Conditions 2022 is the standard contract used across Western Australia to govern residential property sales. It was developed jointly by the Real Estate Institute of WA and the Law Society of WA. This document sets out the rules for how offers are made, accepted or declined, and how settlement must occur. Whether you’re buying, selling or investing in real estate, this form is the backbone of your contract and directly affects your rights and obligations. I like to think of it as “the rules of engagement for real estate” NOT knowing these rules can be the difference between a buyer taking advantage of you or you getting a fair deal.

Why It’s Important for Buyers & Sellers

Understanding the General Conditions protects both sides of a property deal. For sellers, it sets clear timelines for finance approval, disclosure and settlement. For buyers, it guarantees access to vital information like caveats, encumbrances and title restrictions before you commit. Without this framework, disputes about finance, repairs or possession can quickly become legal battles.

Mandurah’s property market attracts local, Perth-based and out-of-town buyers. A clear contract ensures that no matter where the buyer comes from, everyone is playing by the same rules.

Finance Clauses & Deadlines

One of the most important parts of the General Conditions is the finance clause. Buyers must use their “best efforts” to obtain finance approval and provide written evidence if finance is declined. If finance isn’t approved by the due date, the seller can grant an extension or terminate the contract. For sellers in Mandurah, this clause provides a safety net if buyers can’t follow through. For buyers, it ensures fairness and transparency when finance falls through.

Disclosure & Encumbrances

The General Conditions require sellers to disclose anything that affects the title — such as caveats, easements or encumbrances. This protects buyers from unexpected restrictions after purchase. It also gives buyers the right to inspect the property before settlement and ensures both parties know exactly what is being transferred. In a fast-moving market like Mandurah, these disclosures prevent costly surprises.

Settlement Delays & Penalties

The form also spells out what happens if settlement is delayed. If the buyer causes the delay, penalty interest accrues until funds are paid. If the seller causes the delay, compensation may be owed to the buyer. Clear rules like these keep transactions fair and avoid finger-pointing when deadlines slip.

Why Your Mandurah Real Estate Agent Must Understand It

Buying or selling a property isn’t just about negotiation — it’s about compliance. A skilled Mandurah real estate agent who knows the Joint Form of General Conditions inside-out can:

• Manage finance clauses and deadlines to keep your deal on track.
• Draft or review special conditions that protect your interests.
• Explain your rights around disclosure, risk and possession.
• Prevent costly mistakes that can cause deals to collapse.

At Mandurah City Real Estate, our team combines local knowledge with over 50 years of combined experience. We handle the paperwork so you can focus on your goals. See also: Top 10 Reasons to Hire a Property Manager in Mandurah and Key Insights Into Property Management Fees in Mandurah.

Download The General Form Of Joint Conditions 2022 here

Key Takeaways for Mandurah Property Owners

• The Joint Form of General Conditions governs how offers, finance and settlement are handled.
• It protects both buyers and sellers by laying out disclosure requirements and penalties.
• Having a Mandurah property expert on your side ensures deadlines are met and your rights are protected.

For an overview of the General Conditions, you can view the official guide on REIWA’s website.

Ready to buy or sell in Mandurah? Contact our team today and let us guide you through every step of your transaction with confidence and compliance.