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Under most Queensland contracts you will need to obtain insurance on the property from the first business day after the contract date. This will include for vacant land as you will still need to obtain public liability insurance. Most insurers will generally issue a cover note to cover you until settlement, with some even offering […]

With the availability of electronic conveyance identity requirements across all States have become more standardised. What this means is that the requirements for how you confirm your identity should be the same across all States.

It is more common to buy or sell property via a real estate agent or private treaty than it is to buy or sell at auction in Queensland. You can still buy or sell by auction in Queensland and you should speak to the real estate agent on which method would be best for you.

Queensland is a buyer beware State which means it is up to you when you buy to make sure the property is the right property for you. The seller has very limited requirements when it comes to having to disclose matters to you and you will need to do more searches or investigations to make […]

Like any contracts, once signed, both parties have an obligation to settle the contract by the appointed date. If the buyer is not able to do so, then generally you as the seller can enforce your rights against the buyer. This means that you would be able to claim penalty interest and damages caused by […]

If you are not available to sign the contract, because you are travelling for work or is otherwise predisposed, you can nominate another person to sign the contract on your behalf. You can consider creating a power of attorney document that allows your representative to sign the contract on your behalf. If you choose this […]

However, if the reserve price is not met and the auction sale is passed in, you can also negotiate with the next highest bidder to come to a mutually agreeable purchase price. If your property is sold to the next highest bidder, then the contract would still be an unconditional one and not subject to […]

The reserve price is a price that you set and inform the auctioneer. The auction will not be successful unless the bidders have given bids that are higher than the reserve price. Hence, it is important that you set a reasonable reserve price taking into consideration that if it is too low, you may not […]

A sale by private treaty is no different to asking for and accepting private offers to purchase the property. It is a common form of sale where any potential buyers can make offers to you at any time, you can consider each as they are made and determine if you have obtained the best offer. […]

An owner-built property is a property that is either fully or partially built by the owner of the property itself. The owner does not have to be a registered builder to be an owner-builder. There are additional disclosure requirements applicable if you are an owner builder. Hence it is very important that you tell your […]