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The Owner Finance Contract is utilized in situations where traditional bank financing is either not preferred or not available to the property purchaser. This arrangement, governed by Australian federal and state laws, enables property sellers to act as financiers, creating a direct lending relationship with the buyer. The document must comply with the National Consumer Credit Protection Act 2009 when used for consumer purposes, or include appropriate business purpose declarations for commercial transactions. It typically includes comprehensive terms covering the property sale, finance conditions, security arrangements, payment schedules, default provisions, and property maintenance requirements. The agreement is particularly relevant in private sales, family transactions, commercial property deals, and situations where flexible financing terms are desired.

1. Parties: Identification of the Owner-Financier (Seller) and the Purchaser-Borrower, including full legal names, addresses, and ACN/ABN if applicable

2. Background: Context of the transaction, including property details and parties' intention to enter into owner-financing arrangement

3. Definitions: Defined terms used throughout the agreement, including financial terms, property description, and relevant dates

4. Purchase Price and Finance Terms: Total purchase price, down payment, finance amount, interest rate, and payment schedule

5. Security and Property Transfer: Details of the security arrangement, including mortgage terms and conditions for final property transfer

6. Payment Terms: Detailed payment obligations, including payment method, due dates, and application of payments

7. Default and Remedies: Events of default, cure periods, and available remedies including foreclosure rights

8. Insurance and Property Maintenance: Requirements for property insurance and maintenance obligations during the finance period

9. Rates, Taxes and Outgoings: Responsibility for property-related expenses during the finance period

10. Credit Disclosure Statements: Mandatory credit information disclosures required under National Credit Code

11. General Provisions: Standard contract clauses including governing law, notices, and entire agreement provisions