conveyancing

12

Feb
by

Five Conveyancing Differences Between NSW and QLD

 

12th February, 2025

 

If you live in the heart of the Northern Rivers, you may be considering purchasing property in either NSW or QLD. It is essential to know the key differences in conveyancing between these two states, as they can significantly impact your property transaction process.

 

  1. Who Prepares the Contract?

In NSW, the vendor’s solicitor or conveyancer prepares the contract of sale. This includes essential property searches, such as title and zoning checks. In contrast, in QLD, the real estate agent usually prepares the contract. This means buyers may not have the benefit of legal review before signing, which can lead to risks down the line.

 

  1. Disclosure Requirements

In NSW, sellers must provide detailed disclosure documents, including any issues related to the property. These documents must be reviewed before signing the contract. In QLD, the contract is simpler, and the “buyer beware” principle applies. Buyers are responsible for completing their due diligence, including pest and building inspections.

 

  1. Cooling-Off Periods

Both states offer cooling-off periods, but the timing differs. In QLD, the cooling-off period lasts five business days after signing the contract. In NSW, it starts after the contract exchange and lasts for five days. However, cooling-off periods don’t apply to auction contracts in either state, so it is essential to be aware of this is you’re buying at auction.

 

  1. Settlement Timeframes

The standard settlement period is shorter in QLD than in NSW. In QLD, it’s usually 30 days from the contract date. In NSW, the standard period is 28-42 days. This difference could affect your planning and finances, so make sure to account for the variation when entering a contract.

 

  1. Risk at Settlement

In QLD, the buyer takes on the property’s risk as soon as the contract is signed, even if conditions haven’t been met. In NSW, the property remains at the seller’s risk until settlement. Buyers in QLD should consider insurance coverage early in the process to protect against any unexpected damage.

 

At Bangalow Conveyancing, we specialise in conveyancing across both NSW and QLD, making us the perfect partner for clients from anywhere between the Northern Rivers to the Gold Coast. Whether you’re buying your first home or selling an investment property, we’ll guide you through the complexities of the process. Our deep local knowledge of both states’ laws ensures your transaction proceeds smoothly, no matter where you are in the region.

 

 

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