Residential conveyancing

Residential conveyancing in Queensland.

Most residential conveyancing problems begin at the contract. The contract is also where they are easiest to fix.

The majority of residential property transactions in Queensland proceed without difficulty. Contract signed, conditions satisfied, settlement completed, keys handed over. The process is well-established and, when the contract is right, largely follows a predictable sequence.

The cases that do not proceed smoothly almost always have a common feature: a condition that was not properly understood, a special clause that was drafted loosely, a disclosure that turned out to be incomplete, or a timeline that was agreed without understanding its practical implications. Those problems are almost always more expensive to resolve after signing than before.

The Property Law Act 2023 (Qld), which replaced the 1974 Act on 1 August 2025, introduced a seller-disclosure regime requiring the seller to provide prescribed information before the contract is signed. That obligation sits alongside the standard REIQ contract conditions that govern finance, building inspection, and settlement.

Fraser Lawyers acts for buyers and sellers of houses, units, townhouses and vacant land across Queensland. The work starts at the contract, not at exchange.

Process

What happens after you are charged.

Framework.

The legislation that applies to residential conveyancing in Queensland:

Property Law Act 2023 (Qld). Governs the formation and content of property contracts. From 1 August 2025 it replaced the 1974 Act, introducing the seller-disclosure regime that now applies to most residential sales before the contract is signed.
Property Occupations Act 2014 (Qld). Provides residential buyers with a cooling-off period of 5 business days from the contract date under section 166. The right applies to most residential contracts and cannot be contracted out of.
Land Title Act 1994 (Qld). Establishes the Queensland Torrens title system. Governs registration, dealings, easements, mortgages and caveats.
Duties Act 2001 (Qld). Imposes transfer duty on residential purchases. The home concession and the first-home concession are each available where the eligibility criteria are met.
Body Corporate and Community Management Act 1997 (Qld). Applies to community title schemes. Governs the disclosures required when a lot in a scheme is sold, and the ongoing obligations a buyer assumes on purchase.
Land Sales Act 1984 (Qld). Applies to vacant land and proposed lots in subdivisions, including off-the-plan transactions.
Legal Profession Act 2007 (Qld). Section 308 requires written costs disclosure before any work begins.

Cooling-off

What the cooling-off period does and does not cover.

Section 166 of the Property Occupations Act 2014 (Qld) gives a residential buyer 5 business days from the contract date to terminate the contract without having to give reasons. The right is statutory and cannot be excluded by agreement.

The cooling-off period is not a due diligence window. It is a short statutory right designed to protect buyers who may have committed under pressure. It does not extend the time for finance or building inspection. It does not replace the need to read the contract before signing.

If a buyer terminates during the cooling-off period, the seller is entitled to retain a termination penalty of 0.25% of the purchase price. The balance of any deposit paid is refunded. Auctions are not subject to the cooling-off right.

Seller disclosure

What a seller must disclose before the contract is signed.

The Property Law Act 2023 (Qld) requires a seller to provide a prescribed disclosure form to the buyer before the contract is signed. The form covers title details, encumbrances, body corporate information (if the property is in a community title scheme), planning and building matters, and other prescribed information. Failure to provide the disclosure, or providing one that is materially defective, gives the buyer a right to terminate the contract after signing.

On a sale file, Fraser Lawyers prepares the disclosure form before the contract is provided to a prospective buyer. On a purchase file, the disclosure received from the seller is reviewed and any gap or concern is identified before the contract is executed. The obligation is not a formality; it is a substantive pre-contractual step under the 2023 Act.

Time limits

Deadlines and risks.

The standard REIQ contract treats time as of the essence. That has a practical consequence: a party who misses a contractual deadline, whether for finance approval, building inspection, or settlement, may lose rights they thought they had, or expose themselves to a claim they did not anticipate.

The most common risks on residential files are these: a finance condition that is not properly satisfied or extended before the deadline; a building and pest report that discloses a defect but the buyer does not understand their termination rights; a seller-disclosure form that is incomplete, leaving the buyer with rights they have not exercised; and a settlement that is delayed without a properly documented extension.

Cooling-off rights under section 166 of the Property Occupations Act 2014 (Qld) give a residential buyer 5 business days from the contract date to terminate. That right exists independently of the contract conditions, but it expires. After 5 business days, termination requires a contractual ground.

What we do

How Fraser Lawyers acts in these matters.

Fraser Lawyers does not make promises about how a property transaction will proceed. Transactions are affected by lenders, valuers, body corporate managers, councils and the other party. Most of those variables are outside the lawyer's control.

What the firm does on each residential file is this: review the contract before it is signed and advise on the standard conditions and any special conditions; assess the seller-disclosure form provided and identify any gap or concern; run the requisitions and searches between exchange and settlement; prepare the settlement statement and coordinate with the buyer's lender; and attend to registration of the transfer and discharge of any mortgage at settlement through PEXA.

Where a problem arises, a defect on title, a condition that cannot be satisfied, a dispute about adjustment figures, the firm advises on the options. The aim is to identify problems early enough that there is a practical solution.

Pathway

The likely path.

Step 1 — Contract review before signing.

The contract is reviewed before exchange. Standard conditions, special conditions, the settlement date and the finance and building inspection timelines are identified and explained. On a purchase, the seller-disclosure form is reviewed at this stage. On a sale, the disclosure form is prepared before the contract is provided to the buyer.

Step 2 — Conditions period.

Finance approval is pursued within the contract period, typically 14 days from the contract date. The building and pest inspection is arranged and the report reviewed. If a defect is identified, the buyer's options under the contract are explained and any termination or renegotiation is managed within the contractual time limit.

Step 3 — Searches and requisitions.

Title, rates, body corporate (where applicable) and other relevant searches are obtained. Requisitions are raised on the vendor's solicitor. Any adverse result is assessed and, where necessary, addressed before settlement is booked.

Step 4 — Settlement preparation.

The settlement statement is prepared: purchase price less deposit, with adjustments for rates, water charges and body corporate levies calculated to the settlement date. The PEXA workspace is established. Transfer duty is assessed and paid. The buyer's lender is coordinated for mortgage advance.

Step 5 — Settlement and registration.

Settlement completes electronically through PEXA. The transfer is lodged with the Titles Registry and the vendor's mortgage (if any) is discharged. The buyer receives the title free of the vendor's encumbrances.

Frequently asked

Questions we hear often.

Plain-English answers to the questions clients tend to ask. If your question is not here, call us.

Get in touch

How long does a standard residential contract take to settle?

The standard REIQ contract has a 30-day settlement period from the contract date. Within that period, a buyer typically has 14 days for finance approval and 14 days for building and pest inspection. Some contracts negotiate a longer settlement period; cash contracts can settle sooner. The timeline is set by the contract; once agreed, the dates are binding and extensions require the other party’s consent.

What stamp duty concessions are available on a residential purchase?

The home concession applies where the buyer will occupy the property as their principal place of residence. The first-home concession is available to first-home buyers where the purchase price falls within the threshold under the Duties Act 2001 (Qld). Eligibility criteria and thresholds can change; Fraser Lawyers assesses the stamp duty position on every residential file and advises on what concession, if any, applies.

What does the seller-disclosure regime require?

Since 1 August 2025, the Property Law Act 2023 (Qld) requires a seller to provide a prescribed disclosure form to the buyer before the contract is signed. The form covers title, encumbrances, body corporate information (if the property is in a scheme), planning, building matters and other prescribed details. A disclosure that is absent or materially defective gives the buyer a right to terminate after exchange. Fraser Lawyers prepares the disclosure on a sale file and reviews it on a purchase file.

What does a building and pest inspection clause allow me to do?

A building and pest inspection clause gives the buyer a defined period to obtain an inspection report and a right to terminate if the report discloses a defect to the buyer’s reasonable satisfaction. The clause is buyer-protective, but its operation depends on timing and the form of notice. Whether a particular defect is sufficient to trigger the right, and whether it has been raised within the contractual window, are questions that warrant advice before any action is taken.

Do I have a cooling-off period after I sign a residential contract?

Yes. Section 166 of the Property Occupations Act 2014 (Qld) provides a 5 business day cooling-off period from the contract date on most residential contracts. The buyer may terminate during that period without giving reasons; the seller retains 0.25% of the purchase price as a termination penalty. The right does not apply to contracts formed at auction. After 5 business days, termination requires a contractual ground.

What is a caveat, and does my contract need one?

A caveat is a notice on title that prevents further dealings without the caveator’s consent. Most standard residential contracts do not require the buyer to lodge a caveat: the deposit-and-settlement structure, combined with the standard contract conditions, ordinarily provides adequate protection. Where a transaction is unusual, a long settlement, a vendor finance arrangement, or circumstances where there is a risk of a dealing being registered against the title, a caveat may be appropriate. Fraser Lawyers advises on whether one is warranted.

Talk to Fraser Lawyers about your residential conveyance.

An initial call or email is usually enough to understand the transaction and what is involved. Fraser Lawyers is based at 86 Bundall Road, Bundall QLD 4217, and acts for buyers and sellers across the Gold Coast and Queensland.

Send a brief Call (07) 5554 6116