Buying property in Queensland is a significant financial commitment—and one that comes with real legal risks. Whether you’re purchasing a home in Brisbane or an investment property on the Gold Coast, it’s essential to understand what you’re signing when presented with a Queensland property contract.
At Ensure Legal, we help buyers navigate their contracts with clarity and confidence. This article outlines key clauses in the standard REIQ contract, the importance of due diligence, recent legislative changes, and how a lawyer can help you negotiate better and safer terms.
What Is the Standard Queensland Property Contract?
In Queensland, most residential property sales use the REIQ Contract for Houses and Residential Land, jointly issued by the Real Estate Institute of Queensland and the Queensland Law Society. This standard form sets out the rights and responsibilities of both the buyer and the seller.
Despite its standardised format, every property transaction is unique. Agents may add special conditions, and new disclosure obligations now apply under Queensland’s seller disclosure regime.
That’s why legal review is critical—before signing.
Key Conditions in a Queensland Property Contract
Finance clause
This clause gives the buyer a set number of days—commonly 14—to obtain unconditional finance approval. If approval isn’t secured in time, and the buyer fails to terminate correctly, they may be required to proceed or risk losing their deposit.
A lawyer can help align the finance condition with realistic bank timelines or seek extensions where necessary.
Building and pest inspection
Buyers typically have the right to conduct inspections within 7–14 days. If the property has serious issues—such as termite activity or structural faults—you can terminate or negotiate repairs.
A lawyer can ensure the inspection clause is properly worded to preserve your right to exit or request amendments.
Deposit
The contract will specify a deposit, usually paid in two parts: an initial deposit on signing and a balance shortly after. The standard deposit is up to 10%, and if the buyer defaults, the seller may be entitled to retain it.
It’s important the deposit conditions are clearly defined and that any deadlines are achievable.
Special conditions
Many contracts include additional terms added by the agent, seller, or developer. These might cover tenancy arrangements, early access, conditional clauses, or sunset dates in off-the-plan sales.
We strongly recommend buyers never agree to special conditions without legal review.
Settlement date
The REIQ contract includes a fixed settlement date, usually 30 days from contract date unless otherwise agreed. If either party is not ready, penalties or even termination may result.
Your lawyer can help negotiate an appropriate timeframe based on your circumstances and ensure there are provisions for extensions if needed.
Recent Legal Changes: Mandatory Seller Disclosure
Since 2023, Queensland has introduced a new mandatory seller disclosure framework under the Property Law Act 2023 (commencing in 2024 and 2025). This means sellers must now provide a disclosure statement and key documents—such as title search, easements, and notices—before a buyer signs the contract.
This reform strengthens buyer protections, but also means your lawyer must carefully check that the documents provided are accurate and complete.
Can You Negotiate a Queensland Property Contract?
Yes. Many buyers assume the contract is non-negotiable, but that’s not true. At Ensure Legal, we routinely negotiate:
- Changes to finance and settlement dates
- Protection clauses for building and pest
- Amendments or removal of unfair special conditions
- Buyer-friendly terms in off-the-plan and developer contracts
Legal advice is especially important if you’re buying in a competitive market and need to move quickly without compromising your rights.
Off-the-Plan and Non-Standard Contracts
If you’re buying an apartment off-the-plan or dealing directly with a developer, you may be presented with a lengthy contract drafted by the seller’s legal team. These documents often include:
- Extended sunset clauses
- Limitation on your rights to terminate
- Minimal protection against construction delays
- Requirements to accept changes in layout or finishes
We have helped many clients negotiate better protections or avoid contracts that carry disproportionate risks.
Why Work With Ensure Legal?
At Ensure Legal, we provide legal support tailored to Queensland buyers—from first home owners to experienced investors. Our services include:
- Fixed-fee contract reviews before signing
- Legal advice on key conditions and risk areas
- Negotiation with the seller’s agent or solicitor
- Guidance throughout the settlement process
We keep you legally protected at every step—so you can buy with clarity and peace of mind.
Ready to Sign a Contract? Let Us Review It First.
Before you commit to a Queensland property contract, get expert legal advice. A small legal fee now could save you thousands later.
Call us today or book a contract review with Ensure Legal.
