Queensland Contract of Sale: 7 Things to Check Before You Sign

Buying property in Queensland? Before you sign on the dotted line, it's important to understand exactly what you're agreeing to.

Most Queensland residential property sales use a standard REIQ contract, but that doesn't mean every contract is the same.

From finance deadlines to unexpected special conditions, here are seven important things to check in your Queensland property contract before signing.

1. Finance Conditions

Buying subject to finance? Your contract should outline when you need loan approval and what happens if your finance falls through.

Remember, home loan pre-approval isn't the same as unconditional approval. Check your finance deadline and understand what action you need to take if your loan isn't approved in time.

2. Building and Pest Inspections

A building and pest condition may give you the opportunity to arrange inspections and respond to issues identified.

Check the inspection deadline, your notification obligations, and what rights you have if something unexpected is discovered.

3. Settlement Date

Your settlement date is when the property purchase is finalised.

Make sure you understand when settlement is due, what needs to happen beforehand, and the consequences of delays. Don't assume an extension happens automatically.

4. Deposit Requirements

Your contract outlines how much deposit you need to pay and when it's due.

Missing a deposit deadline could put you in breach of contract, so check the payment requirements carefully.

5. Seller Disclosure Documents

Since 1 August 2025, Queensland sellers have been required to provide a Seller Disclosure Statement (Form 2) and relevant prescribed documents before buyers sign.

These documents contain important property information, but they don't replace your own due diligence.

6. Special Conditions

Special conditions can change the standard terms of your contract.

They might relate to repairs, existing tenancies, property inclusions, or additional buyer obligations.

Never assume a special condition is unimportant just because it's only a few lines long.

7. Default and Termination Clauses

What happens if you miss a deadline, can't settle, or need to withdraw from the purchase?

Default and termination clauses explain the potential consequences, including deposit losses, interest, or other financial liabilities.

Understanding these terms before signing can help you avoid costly surprises.

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