A Queensland REIQ contract looks straightforward on the surface, but several clauses deserve close attention before you sign anything. Check the finance clause carefully, including the amount, the lender and the date by which approval must be confirmed, since these details need to match your actual borrowing arrangement.
The building and pest inspection date is another area where buyers often accept whatever the agent proposes without checking it gives enough time. Make sure the date allows your inspector and solicitor enough notice to act, particularly if you are relying on a specific tradesperson who may be booked out.
Look closely at what is included in the sale, such as fixtures, fittings, curtains or a garden shed, and have anything verbally agreed to added in writing. A dispute over an item left out of the contract is far harder to resolve after settlement than before you sign.
Special conditions deserve particular scrutiny, whether they relate to tenancy arrangements, pool safety certificates, or settlement adjustments for rates and water. Your solicitor should walk you through every special condition in plain language, not just confirm the contract is standard.
Never sign before your solicitor has reviewed the document, even under pressure from a seller wanting a quick exchange. The small delay of a proper review is far less costly than discovering an unfavourable clause after you are legally bound.
Happy to talk it through — no pressure, no sales pitch.