No longer buyer beware!
Thinking of selling your property? Are you aware of the new changes taking place from 1 August 2025? Up until now, Queensland has operated under a “buyer beware” approach – meaning the buyer carried the responsibility of uncovering any hidden issues relating to a property purchase. This new system flips that model.
From 1 August 2025, the responsibility now shifts to the seller to disclose information upfront. If the mandatory documents aren’t provided before the contract is signed, buyers will have the right to terminate at any time prior to settlement. This includes receiving a full refund of the deposit, and potentially passing any losses on to the seller.
This is a significant change that could severely impact a deal if not done correctly.
Unfortunately the above is not something you can get out of using special conditions in a contract…..it is mandatory.
The information required to be disclosed is substantial and must be provided before a contract is signed. It includes:
- Title search and registered plan
- Easements and encumbrances (registered and unregistered)
- Planning restrictions and statutory notices
- Pool safety and contamination status
- Road and QCAT searches
- Heritage listings
- Tenancy agreements (if applicable)
- Current rates and water charges
- Body corporate records (where relevant)
As you can see from the above, the landscape to property sales is about to change. Compliance is mandatory and the consequences of not fulfilling your vendors obligations could be costly. Speak to your legal representative to ensure you comply with the new rules in your next property sale.
Author
Kim Jay