The introduction of the new Statutory Seller Disclosure scheme marks a significant change in Queensland’s conveyancing landscape. With the passing of the Property Law Act 2023, Queensland will implement in 2025 a formal Seller Disclosure scheme for residential land transactions. Previously, Queensland had no formal requirement for sellers to disclose property defects or issues, placing the onus solely on buyers to conduct their own searches. However, the new Seller Disclosure scheme will require.....
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Top 5 Mistakes to Avoid When Selling a House in Brisbane, Queensland Selling a house in Brisbane, Queensland, involves a multistep conveyancing process with many legal and financial considerations. Whether you're upgrading, downsizing, or relocating the most critical aspect of selling a property in Queensland is conveyancing, which ensures the legal transfer of ownership is carried out smoothly. However, many sellers make avoidable mistakes that can lead to delays, added costs, or legal complica.....
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Why Your Conveyancing Solicitor Shouldn’t Represent Both the Seller and the Buyer in Real Estate Transactions in Queensland. Across Australia there are no laws preventing Conveyancing Solicitors from acting on behalf of both the Buyer and Seller in a property conveyance. However there are significant risks involved if there are any disputes or complications during the property transaction. When a solicitor takes on the role of representing both parties in a property transaction, they are require.....
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Five Updates for Queensland Buyers & Sellers of House and Land  1. Queensland Population Growth & Housing Supply A marked imbalance between housing supply and demand in the sunshine state has been observed due to various factors throughout 2023 and into 2024. According to the Australian Bureau of Statistics, Queensland has seen the highest level of interstate migration in the country from the start of 2023 to September. ‘Queensland welcomed about 110,000 interstate movers, and data.....
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What is the First Home Owners Guarantee Scheme (FHBG) in Queensland 2024? The First Home Guarantee (previously called the First Home Loan Deposit Scheme FHLDS) is available for eligible purchasers of their first home to get into the property market by paying only a 5% deposit on their mortgage with the Queensland Government’s Aid. It is organised by Housing Australia on behalf of the Australian Government. It is referred to as the FHBG. What are the benefits of the FHBG? The scheme offers three .....
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Queensland Conveyancing News: Sunset Clause Crackdown The Queensland government has taken decisive action to address conveyancing transaction concerns by cracking down on the misuse of the sunset clause in off-the-plan contracts. These contracts, whereby the property is purchased before the construction on the land is complete have become controversial due to the problematic practice involving developers and the sunset clauses. In the past, instances occurred where developers, using sunset claus.....
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