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The standard Queensland contracts provide that all fixtures and fittings are sold with real property, whereas the parties will need to specifically list out any goods (also known as chattels) that are to be sold with the land. In the absence of a detailed list of goods included in the sale, the buyer is only […]

Furniture is generally not sold with the property because they are considered goods. If you want to sell the furniture or there has been an offer to purchase your furniture along with the real property, you can do so as a part of the same contract for sale of the property. All you have to […]

The general settlement period for a property sale in Queensland is 30 days after the contract date. This is generally enough time for the seller to prepare for the sale to be completed. This timeframe is also to allow the buyer sufficient time to prepare for settlement, including to complete their due diligence and loan […]

A discharge of mortgage is a document that your mortgagee will bring to settlement to handover to the buyer’s conveyancers at settlement. It will allow the buyer to register their interest over the property after your mortgage has been removed from the title. To notify your bank that you have sold your property and start […]

General conditions are the conditions that you will see most frequently on all standard contracts. They are the terms that are contained in the standard Real Estate Institute of Queensland (REIQ)  or ADL contracts and will generally be sufficient to cover for standard residential sales. However, you should also ask your conveyancing lawyer what special […]

A deposit bond is a document provided by a bond issuer, which the buyer can use in place of a cash deposit. It is a form of security over the contract of sale and acts as a guarantee. If the buyer is unable to complete settlement and the seller enforces their rights, they can present […]

If your buyer does not have the cashflow for the purpose of making a cash deposit payment upfront, they may offer to give you a bank guarantee as security for the full deposit amount. A bank guarantee is basically a document provided by the buyer’s bank to confirm that they have the requisite amount of […]

It is up to you how much deposit you want to ask for but by law it should not be higher than 10% of the purchase price. A deposit does not have to be paid under the contract, however it is in your interest to have it paid as it is your security under the […]

In all contracts you will need to disclose the correct property details for the property you are selling. This will include the property address, lot and plan details, property area, current use of the property and any body corporate details. You will also need to disclose any tenancies in the property that will remain after […]

In Queensland the Sellers obligation to disclose matters in relation to the property are relatively minimal compared to States such as Victoria and New South Wales. This will make the contract much easier to complete and also means you do not always have to have a conveyancing lawyer draft your contract for you. There are […]