Property Buying Process in Queensland: A Lawyer’s Step-by-Step Guide

Signing a property contract in Queensland can lock you in before you’ve even had your building inspection done. That’s how quickly the property buying process moves, and how easily it can go wrong without the right advice at the right moment.

This guide walks through the entire process of buying a property in Australia, Queensland-style: finances, research, offers, contracts, cooling-off rights, inspections, stamp duty, settlement, and the legal traps buyers fall into at every stage. Along the way, we’ll show you exactly where a conveyancing lawyer protects you and where Aylward Game Solicitors’ Mark Game and Josie Stokes have helped Brisbane, Gold Coast and Sunshine Coast buyers avoid costly mistakes.

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What Is the Process for Buying a Property?

At a high level, the process of buying a property in Australia runs through eight stages:

1. Arranging finance
2. Researching the market
3. Making an offer
4. Signing the contract
5. Using your cooling-off period
6. Completing inspections
7. Paying transfer duty and
8. Settling

In Queensland, this journey is shaped by the Property Law Act 2023 (Qld), the Property Occupations Act 2014 (Qld), the Duties Act 2001 (Qld), and the Land Title Act 1994 (Qld).

Step 1: Get Your Finances in Order

Before inspecting properties, speak to a lender or mortgage broker about pre-approval. It gives you a realistic borrowing limit and signals to sellers that you’re serious.

• Confirm your borrowing capacity and pre-approval timeframe
• Check your eligibility for the Queensland First Home Owner Grant
• Review stamp duty concessions in our First Home Buyers Guide
• Budget for costs beyond the deposit: legal fees, inspections, insurance

Step 2: Before Buying Property Research and Due Diligence

Before buying property, research goes well beyond browsing listings online. It’s about understanding what you’re actually walking into, legally and financially. That means looking at recent comparable sales in the suburb, checking flood mapping and zoning restrictions, and reviewing body corporate arrangements if you’re considering a unit or townhouse.

A title search at this stage can reveal easements, unregistered plans, or caveats that affect what you can and can’t do with a property later on, information that rarely shows up in a real estate listing. Getting legal advice here, rather than after signing, is one of the simplest ways a conveyancing solicitor adds value to the buying a property process.

Choosing What to Buy: Established, Off-the-Plan, or House and Land

Each option carries a different legal risk profile:

• Established homes: You can inspect the finished product, but building and pest issues need checking before you commit
• Off-the-plan properties carry sunset clauses and seller disclosure obligations under the Property Law Act 2023 (Qld); construction delays can affect your finance approval
• House and land packages stamp duty is often only payable on the land component, but council approval delays can push out your move-in date

Step 3: Making an Offer, Private Treaty or Auction

Queensland properties sell either by private treaty or auction, and the process differs significantly for each.

Private treaty:

• Discuss pricing with the seller or their agent
• Sign the standard REIQ/QLS contract
• Pay a deposit, usually 10% of the purchase price, on exchange
• Cooling-off rights apply

Auction:

• No cooling-off period applies
• The highest bid over the seller’s reserve wins
• Finance must be approved, and the contract reviewed, before auction day
• The sale is binding immediately on the fall of the hammer

Whichever method you use, have your solicitor review the contract before you make an offer, not after.

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Step 4: What Does a Conveyancing Solicitor Do?

This is one of the most common questions buyers ask, and it’s a fair one; many people assume any conveyancer will do. A conveyancing solicitor, unlike a conveyancer, can also advise on the legal risk sitting behind the paperwork, not just process it.

At Aylward Game Solicitors, Mark Game (founding partner, accredited property law specialist, admitted to the Supreme Court of Queensland) and Josie Stokes (Conveyancer, Paradise Point office) work through each contract to check:

• Title searches for easements, caveats, or encumbrances under the Land Title Act 1994 (Qld)
• The seller’s disclosure statement (Form 2) is required under the Property Law Act 2023 (Qld)
• Special conditions, finance and building/pest clauses
• Body corporate records and levies for units and townhouses
• GST withholding obligations on new residential property
• Negotiating amendments and representing you if a dispute arises

A conveyancing lawyer also has the standing to appear for you if the deal turns into a dispute; a licensed conveyancer generally does not.

Step 5: The Cooling-Off Period

Under the Property Occupations Act 2014 (Qld), residential buyers outside of auctions get a statutory cooling-off period:

• Length: 5 business days
• Starts: the day after you receive a copy of the signed contract
• Penalty for terminating: up to 0.25% of the purchase price, deducted from your deposit
• Can be waived or shortened with legal advice, though this should never replace proper due diligence before signing

It’s worth repeating: the cooling-off period is not a free trial. Buyers sometimes assume they can simply change their mind at no cost; the penalty applies even if you terminate on day one.

Seller Disclosure: What Changed in 2025

Since 1 August 2025, sellers must provide a Form 2 Seller Disclosure Statement under the Property Law Act 2023 (Qld) before the contract is signed, not after. This is one of the biggest shifts in Queensland conveyancing in years. It gives buyers earlier visibility of:

• Known property defects
• Existing encumbrances on the title
• Outstanding council or utility notices
• Show-cause or enforcement notices affecting the property

If a seller fails to comply, buyers may gain termination rights outside the standard cooling-off window. Another reason a solicitor’s review matters is before you sign, not just before settlement.

Step 6: Building, Pest and Body Corporate Inspections

Once your offer is accepted, arrange your inspections promptly. Most contracts set a fixed number of business days to satisfy these conditions, and missing that deadline can mean losing your right to negotiate repairs or walk away.

• Building inspection checks for structural issues, damp, and safety hazards
• Pest inspection checks for termites and other pest damage
• Body corporate search (units/townhouses) required under the Body Corporate & Community Management Act 1997 (Qld); reveals scheme finances, upcoming special levies, and any disputes

Buying With a Partner: Joint Tenants vs Tenants in Common

If you’re buying with another person, this is the stage to decide how you’ll hold the title.

• Joint tenants: Every owner possesses an equivalent portion, and ownership automatically passes to the surviving owner if one dies. Common for married or de facto couples.
• Tenants in common: owners can hold unequal shares, and each share forms part of that person’s estate on death, distributed under their will. Common for friends, family, or investors to pool funds.

Getting this wrong can create serious complications for your estate later; it’s worth five minutes of legal advice before settlement.

Buying With Vendor Finance or an Instalment Contract

Not every Queensland purchase is a straightforward bank-financed deal. Vendor finance, instalment sale contracts, lease options and “rent to own” arrangements are becoming more common, and they carry legal risks a standard residential contract review won’t catch. Mark Game is one of a small number of Queensland solicitors with genuine expertise in this space, including assumptive options and sandwich leases, and can identify structuring issues before you’re locked into an agreement.

Step 7: Paying Transfer (Stamp) Duty

Transfer duty is payable under the Duties Act 2001 (Qld):

• Generally, due within 30 days of settlement
• Concessional rates apply for owner-occupiers
• Further concessions or exemptions apply for eligible first-home buyers
• Your solicitor calculates the correct amount and arranges payment at settlement

GST Withholding on New Residential Property

If you’re buying a new home or a new residential lot, you may be required to withhold part of the purchase price and pay it directly to the ATO at settlement, rather than to the seller.

This is a common trap for buyers of newly built properties and off-the-plan units, and it’s something your conveyancing solicitor should flag well before settlement day, not on it.

Step 8: Settlement Day and PEXA E-Conveyancing

The process concludes with settlement in the property buying process.

• Queensland settlements are now conducted almost exclusively through PEXA, the electronic conveyancing platform
• Funds and the transfer of land are exchanged and registered with the Titles Office on the same day
• Your solicitor coordinates with your lender and the seller’s representative to finalise everything
• You receive the keys and become the registered owner under the Land Title Act 1994 (Qld)

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Costs to Budget For Beyond the Purchase Price

Buyers often underestimate the total cost of the property buying process. Beyond your deposit, budget for:

• Transfer (stamp) duty under the Duties Act 2001 (Qld)
• Conveyancing fees and legal costs
• Building and pest inspection fees
• Lender’s Mortgage Insurance is required if your deposit falls below 20%
• Loan application and property valuation fees
• Body corporate search fees for units and townhouses
• Building and contents insurance, arranged before settlement
• Council rate adjustments at settlement

Costs to Budget For Beyond the Purchase Price

Buyers often underestimate the total cost of the property buying process — the deposit is only the headline figure. The table below splits these costs into what you pay upfront to get to settlement, and what continues after you own the property.

Conveyancing Lawyer vs Conveyancer: Which Do You Need?

Many buyers searching for “conveyancing near me” assume a licensed conveyancer is enough for their purchase. That’s often true for a simple, established-home purchase, but not always.

A conveyancer can typically handle standard purchases and settlement administration. A conveyancing lawyer is the safer choice when your purchase involves vendor finance, an instalment contract, an off-the-plan property, a commercial component, a dispute with the seller, or any unusual title issue.

Conveyancing fees vary with complexity; a standard established home costs less to process than an off-the-plan or vendor finance purchase, and Aylward Game Solicitors provides upfront, fixed conveyancing fees so there are no surprises.

Get Legal Advice Before You Sign

The property buying process in Australia moves quickly once an offer is accepted, and Queensland contracts are legally binding well before settlement day. Speaking with a conveyancing solicitor before you sign, not after, is the single best way to avoid costly mistakes, whether you’re a first home buyer, an investor, or navigating an off-the-plan unit or vendor finance arrangement.

Aylward Game Solicitors’ property law team, led by Mark Game and supported by Conveyancer Josie Stokes, assists buyers with every stage of the buying property process across Brisbane, Gold Coast and Sunshine Coast. Call 07 3236 0001 or speak with our team today.

Get Ahead with Expert Legal Guidance

Trust Aylward Game Solicitors to Navigate Your Legal Challenges

Schedule Your Appointment Now

Call Us (1800) 217 217

Frequently Asked Questions

What is the process for buying a property in Queensland?

Finance pre-approval, researching the market, making an offer, signing a contract, using your cooling-off period, arranging inspections, paying transfer duty, and settling through your solicitor or conveyancer.

How long does the property buying process take in Australia?

From signing a contract to settlement typically takes 30 to 60 days in Queensland, depending on finance approval, inspections, and whether special conditions apply.

What does a conveyancing solicitor do that a conveyancer doesn’t?

A conveyancing solicitor can provide legal advice, negotiate contract terms, and represent you in a dispute. A conveyancer manages administrative and settlement tasks but cannot give legal advice.

How much is the cooling-off period in Queensland?

Queensland buyers get five business days under the Property Occupations Act 2014 (Qld). Terminating during this period incurs a penalty of up to 0.25% of the purchase price.

Is there a cooling-off period at auction?

No. Properties sold at auction in Queensland have no cooling-off period, so finance and inspections must be finalised before auction day.

How much is stamp duty when buying a property in Queensland?

Transfer duty is calculated under the Duties Act 2001 (Qld) based on the purchase price, with concessions available for owner-occupiers and eligible first home buyers.

Do I need a solicitor or a conveyancer to buy a house in Queensland?

Either can handle a straightforward purchase, but a solicitor is recommended for off-the-plan, vendor finance, commercial, or disputed transactions where legal advice may be needed.

What is PEXA, and how does it affect settlement?

PEXA is Australia’s electronic conveyancing platform. Queensland settlements are largely conducted through PEXA, allowing funds and title transfer to be finalised and registered on the same day.

What should first-time home buyers check before buying a property?

First home buyers should check their eligibility for the First Home Owner Grant, applicable stamp duty concessions, and have a solicitor review the contract before signing.

What is GST withholding and does it apply to my purchase?

GST withholding applies to new residential property purchases, requiring buyers to pay part of the price directly to the ATO at settlement. Your solicitor confirms whether it applies to you.

Can I pull out of a property contract after the cooling-off period ends?

Generally, no, unless a special condition (such as finance or a building and pest clause) hasn’t been satisfied, or the seller has breached their disclosure obligations.