Since 1 August 2025, Queensland has also operated a statutory seller disclosure regime under the Property Law Act 2023 (Qld). Queensland Government
Under s 99 of the Property Law Act 2023 (Qld), a seller must generally give the buyer a prescribed disclosure statement and applicable prescribed certificates before the buyer signs the contract.
The prescribed documents can include a current title search and registered survey plan. Queensland Legislation
No.
The statutory Form 2 specifically warns buyers that it does not necessarily disclose matters such as flood history, structural condition, pest infestation, historical use, development approvals, planning restrictions or services connected to the property. Queensland Government Publications
A buyer should therefore still conduct their own searches, inspections and due diligence.
Potentially.
Under s 104 of the Property Law Act 2023, a buyer may have a statutory right to terminate before settlement where the seller fails to provide required disclosure or where disclosure is materially inaccurate or incomplete and the statutory test is satisfied. Queensland Legislation
Not every minor error automatically gives a buyer the right to terminate.
Most private residential sales are subject to a five-business-day statutory cooling-off period under s 166 of the Property Occupations Act 2014 (Qld).
A buyer terminating during the statutory cooling-off period may generally be charged a termination penalty of up to 0.25% of the purchase price. Queensland Legislation
Different rules apply to auction sales and certain other transactions.
Where finance or the physical condition of the property is important, suitable contractual conditions should normally be considered before signing.
The existence and scope of the buyer’s termination rights will depend on the wording of the contract.
The High Court’s decision in Toll (FGCT) Pty Ltd v Alphapharm Pty Ltd [2004] HCA 52 is a useful general reminder that signing a contractual document ordinarily carries serious legal consequences even where a party has not carefully read all of its terms. High Court of Australia
Ideally, yes.
A pre-contract review can identify issues involving title and easements, finance, building and pest conditions, settlement dates, body corporate matters, disclosure documents and any special conditions inserted by the seller.
This is particularly important when the buyer is considering an unconditional offer or an auction purchase.
Last updated: September 2026
Jurisdiction: Queensland, Australia
Disclaimer: This article provides general information only and does not constitute legal, financial or tax advice. The law may change and its application depends on individual circumstances. You should obtain professional advice before acting on the information contained in this article.