A Covenant is a voluntary agreement that imposes some form of restriction or guideline to the parcel of land. Most frequently, the Covenant, in some cases known as a design guideline, is used to protect the physical appearance of the property for the benefit of the Suburb or Estate in question. There are two forms […]

REIQ Contract Update: Pool Compliance Certificates

Do you have a pool at the property you’re just about to sell? Do you have your Pool Compliance Certificate on hand?  Sellers are required to provide the buyer with a Pool Compliance Certificate prior to settlement. The new updates to the REIQ Contract have simplified the pool related provisions of the contract and a […]

What happens after the contract goes unconditional?

After the contract goes unconditional, all parties are eager to get settlement across the line. Something important to note is the work involved from the unconditional stage to settlement to ensure that all parties rights and interests are protected. It is important that steps are taken to ensure that the buyer and seller can transfer […]

Weather Events and Recent Floods

Weather Events and Recent Floods - Fast Facts

Our hearts go out to anyone in Southeast Queensland who has been affected by the recent floods. Weather events cause a great deal of stress to all property owners especially those bound by contractual obligations. It is often unclear when something goes wrong which party is responsible for the property at that time, when settlement […]

Pre-Settlement Inspection

As per the terms of the contract (8.2), the buyer is entitled to various inspections of the property for specific purposes. One inspection allowed is an inspection of the property prior to settlement also known as a pre-settlement inspection. This inspection is to confirm that the buyer is satisfied that the property is in the […]

REIQ Contract Update: Right To Extend

The REIQ (Real Estate Institute of Queensland) has made many changes to the newest released contract versions (13th and 17th editions). To combat the issues experienced with settlement delays and the severe consequences suffered by buyers as a result of issues outside of their control the REIQ has introduced Clause 6.2.

Disclosure Statements

It is important to remember to include the disclosure statement with the contract prior to the buyer receiving it to sign. The seller is required to provide relevant disclosure to the buyer prior to the contract being signed. Failure to do so results in the seller being in breach of contract and the buyer is […]