Property Law FAQs

In Queensland, most residential property contracts have a statutory 5-business day cooling-off period that allows buyers to withdraw from a contract after signing.

How the Cooling-Off Period Works

Duration: 5 business days (excludes weekends and public holidays)

Starts: On the day you or your solicitor receives a copy of the contract signed by both parties

Penalty: The seller may charge a termination fee of 0.25% of the purchase price

Example Calculation

If you purchase a property for $600,000:

Conveyancing fees in Queensland typically range from $800 to $2,500 depending on the complexity of the transaction.

What’s Included in Conveyancing Costs?

Professional Fees:

• Contract review and preparation
• Communication with all parties
• Searches and title investigations
• Settlement coordination

Additional Costs:

• Title searches: $50-$150
• Local authority searches: $100-$200
• Water authority searches: $20-$50
• PEXA settlement fees: $150-$300
• Registration fees: varies by property value

Not Included:

• Stamp duty (transfer duty) - calculated on purchase price
• Building and pest inspections
• Mortgage registration fees (if borrowing)

Always request an itemised quote upfront so you understand exactly what you’re paying for.

Yes, you can terminate a property contract after signing, but the circumstances and consequences vary.

During the Cooling-Off Period

If the cooling-off period applies (typically 5 business days for residential sales):

• You can terminate for any reason
• The seller may charge a 0.25% penalty on the purchase price
• You must give written notice
• Not available for auction purchases

Outside the Cooling-Off Period

You can only terminate if:

1. Contractual Conditions Fail:

Yes, all property buyers in Queensland must pay transfer duty (commonly called stamp duty) when purchasing real estate.

How Stamp Duty is Calculated

Queensland transfer duty is calculated on a sliding scale based on the property value:

• Up to $5,000: $0
• $5,001 - $75,000: $1.50 for each $100 or part of $100 over $5,000
• $75,001 - $540,000: $1,050 plus $3.50 for each $100 or part over $75,000
• $540,001 - $1,000,000: $17,325 plus $4.50 for each $100 or part over $540,000
• Over $1,000,000: $38,025 plus $5.75 for each $100 or part over $1,000,000

First Home Buyer Concessions

First home buyers may be eligible for:

Buying property off the plan (purchasing before construction is complete) carries several unique risks that buyers should understand before signing a contract.

Major Risks

1. Construction Delays:

• Projects often take longer than anticipated
• Your settlement date may be pushed back months or years
• You remain committed to the purchase during delays

2. Developer Insolvency:

• If the developer goes into liquidation, construction may stop
• Your deposit may be at risk
• The project may never be completed

3. Market Value Changes:

A building and pest inspection is a professional assessment of a property’s structural integrity and pest infestation status. While not legally required in Queensland, it’s one of the most important steps in protecting your property investment.

What Does a Building Inspection Cover?

A qualified building inspector examines:

• Structural integrity: Foundations, walls, roof, and load-bearing elements
• Major defects: Cracks, subsidence, water damage, and structural movement
• Safety hazards: Electrical issues, asbestos, inadequate ventilation
• Minor defects: Cosmetic issues, maintenance requirements
• Compliance: Building code violations, unapproved additions

What Does a Pest Inspection Cover?

A licensed pest inspector checks for:

The Queensland First Home Owner Grant provides $15,000 to eligible first home buyers purchasing or building a new home. Here’s everything you need to know about eligibility and how to apply.

Eligibility Criteria

To qualify for the grant, you must meet ALL of these requirements:

1. First Home Buyer:

• You’ve never owned a home in Australia (before 1 July 2000 for applicants born before 1 July 1985)
• Your spouse has never owned a home in Australia
• Neither of you has previously received a first home grant

2. Property Requirements:

Yes. A Form 6 is a legally binding contract that governs how much and when you pay an agent. Standard terms often require you to pay commission even if a sale doesn’t complete due to a vendor “default”. With new disclosure laws, a buyer terminating for disclosure errors might be claimed as a vendor default. Having a solicitor review and negotiate “commission on settlement only” terms before you sign can save you tens of thousands of dollars in “commission traps.”