Practice Areas

Conveyance – Real Property

Step-by-Step Guide to Property Conveyancing in Queensland, Australia

Conveyancing is the legal process of transferring ownership of real estate from one party to another. In Queensland, property transactions follow specific legal requirements under the Property Law Act 1974 (Qld) and other relevant legislation. Below is a general step-by-step guide for both buyers and sellers in Queensland.

For Buyers

Step 1:  Contract Preparation & Signing

    • The seller (or their solicitor) provides a Contract of Sale (usually a REIQ or ADL contract).
    • The buyer reviews the contract, negotiates terms (e.g., purchase price, settlement date), and signs.
    • If required, the buyer pays an initial deposit (usually held in a trust account).
    • Step 2:  Cooling-Off Period (if applicable)
      • A standard 5-business-day cooling-off period applies (unless waived).
      • If the buyer cancels, a penalty of 0.25% of the purchase price may be deducted from the deposit.
      • Step 3:  Finance Approval & Other Conditions
        • If the contract is subject to finance, the buyer must secure loan approval within the agreed timeframe.
        • Other conditions, such as building and pest inspections, must be completed.
        • Step 4:  Searches & Due Diligence
          • The buyer’s solicitor conducts property searches, including title searches, rates, zoning, and encumbrances.
          • Any issues (e.g., outstanding council rates or restrictions) are addressed before settlement.
          • Step 5:  Unconditional Contract & Pre-Settlement Preparations
            • Once all conditions are met, the contract becomes unconditional, and the remaining deposit is paid.
            • The buyer arranges insurance (recommended from the contract date).
            • Step 6:  Settlement Process
              • Settlement typically occurs 30–60 days after signing (as agreed in the contract).
              • Funds are transferred to the seller, and the buyer takes legal ownership.
              • Transfer documents are lodged with the Queensland Titles Office via PEXA (online conveyancing platform).
              • Step 7:  Post-Settlement Tasks
                • The buyer receives the keys and updates utility providers and council records.
                • If the property was mortgaged, the lender registers the buyer’s name on the title.

For Sellers

Step 1:  Engage a Solicitor & Prepare Contract

    • The seller prepares a Contract of Sale, including any special conditions.
    • Step 2:  Property Disclosure Obligations
      • Sellers must disclose material facts, including encumbrances, easements, and tenancies.
      • Step 3:  Receiving & Accepting an Offer
        • Once the buyer signs the contract and meets conditions (if applicable), the contract moves forward.
        • Step 4:  Satisfying Contract Conditions
          • If the contract is subject to building and pest inspections or finance, the seller awaits confirmation from the buyer.
          • Step 5:  Pre-Settlement Requirements
            • The seller arranges for outstanding council rates, water bills, and land tax to be settled.
            • The seller vacates the property before settlement.
            • Step 6: Settlement Day
              • The seller’s solicitor ensures funds are received and ownership is transferred.
              • The seller provides keys and necessary documents to the buyer.

Important Notes

✅ Queensland uses an electronic conveyancing system (PEXA) for settlements.
✅ Stamp duty (transfer duty) is payable by the buyer before settlement.
✅ Legal and conveyancing fees apply for both parties.
✅ Sellers should be aware of capital gains tax (CGT) implications if applicable.