- 1Once signed, your ability to walk away is generally limited to the conditions and rights written into the contract.
- 2A pre-signing review lets you negotiate special conditions — finance, building and pest, due diligence — before you are committed.
- 3Cooling-off rights for residential buyers exist, but they come at a cost and are not a substitute for a proper review.
Why the review should happen before you sign
Most residential property in Queensland is sold on a standard-form REIQ contract, completed by the agent with the price, dates and any special conditions. Because the form is familiar, it is tempting to treat it as routine. But the specific details — the conditions, the dates and the special conditions — determine your rights if something goes wrong.
Before signing, you can ask for amendments: a longer finance period, a building and pest condition that suits your plans, or a special condition dealing with an issue you have noticed at the property. After signing, the seller has no obligation to agree to any change.
What a lawyer checks
- ✓The parties, the property description and the title, including easements and encumbrances that could affect how you use the property.
- ✓The seller's disclosure material and whether anything in it needs follow-up.
- ✓Finance and building and pest conditions: whether they are included, how long they run and how they can be relied on.
- ✓Special conditions added by the agent or seller, which can shift risk significantly.
- ✓Settlement date, deposit amount and when the deposit is payable.
- ✓For units and townhouses, the body corporate information, levies and by-laws.
Cooling-off rights and their limits
Residential buyers in Queensland generally have a short statutory cooling-off period after they receive the signed contract, during which they can terminate. Terminating in the cooling-off period means forfeiting a small percentage of the purchase price, and the right does not apply in every situation — for example, it generally does not apply to purchases at auction.
Cooling-off is a safety valve, not a plan. It gives you limited time and costs money to use. A review before signing is the more reliable way to make sure the contract reflects what you have agreed.
What happens after you sign
Once the contract is signed, the key dates start running. We diarise the finance, building and pest and any due diligence dates, liaise with your broker, the agent and inspectors, and make sure any notices are given correctly and on time — because a notice given late or in the wrong form can cost you your right to terminate.
We then prepare for settlement: searches, the statement of adjustments, transfer documents and coordination with your lender, before attending electronic settlement on your behalf.
Common questions
Can I get a contract reviewed after I have already signed it?+
Yes. Even after signing, a review helps you understand your conditions and deadlines, and whether you have any rights to terminate or negotiate. The earlier you act, the more options you have.
Do sellers need a lawyer too?+
Sellers benefit from advice on the contract, their disclosure obligations and settlement. Getting the seller's side right reduces the risk of a buyer later seeking to terminate or claim compensation.
Sources & further reading
- ↗Queensland Legislation — Property Law Act 2023 (Qld)
- ↗Queensland Government — law and justice — buying and selling property in Queensland
- ↗Titles Queensland — title searches
This guide is general information about Queensland and Australian law and is not legal advice. Laws change and every situation is different — speak with us about your specific circumstances before acting.
