From August 1, 2025, significant changes to property sale regulations in Queensland will come into effect under the Property Law Act 2023. These changes introduce a mandatory seller disclosure regime aimed at enhancing transparency and consistency in property transactions.
🔍 What Are the New Requirements?
Sellers must provide prospective buyers with a completed and signed Form 2 Seller Disclosure Statement along with all prescribed certificates before the buyer signs the contract. These documents must be accurate and up to date at the time of provision.
The disclosure statement includes information such as:
- Seller and Property Details: Name, address, lot and plan description, and whether the property is part of a community titles scheme.
- Title Details and Encumbrances: Title search, survey plan, registered and unregistered encumbrances (e.g., easements, leases), statutory encumbrances, tenancy history, and rent increases.
- Land Use, Planning, and Environment: Zoning, notices of transport infrastructure proposals or resumptions, environmental contamination notices, tree orders, and heritage listings.
- Buildings and Structures: Pool safety compliance, owner-builder work and required notices, and any enforcement notices from local authorities.
- Rates and Services: Most recent rates and water service charges, and whether the property is exempt from rates or has no separate water notice.
- Community Titles or BUGTA Schemes: Community management statement and body corporate certificate or explanatory statement.
For detailed information on the disclosure requirements, refer to the REIQ’s article: New seller disclosure regime in Queensland.
⚠️ Consequences of Non-Compliance
Failure to provide the required disclosure documents, or providing inaccurate or incomplete information, can have serious consequences:
- Termination Rights: Buyers may have the right to terminate the contract at any time before settlement if:
- The seller fails to provide the disclosure documents before the buyer signs the contract.
- The disclosure documents contain inaccuracies or omissions related to a material matter, and the buyer can demonstrate that they would not have signed the contract had they been aware of the correct information.
For more details on buyer termination rights, see the REIQ’s article: Buyer termination rights: Seller’s disclosure regime.
📝 Preparing for the Changes
To ensure compliance with the new regime:
- Early Preparation: Begin gathering the necessary information and documents well before listing your property for sale.
- Professional Assistance: Consider engaging a solicitor or authorised real estate agent to prepare the Form 2 Seller Disclosure Statement on your behalf.
- Stay Informed: Keep abreast of any updates or additional requirements related to the seller disclosure regime.
By proactively preparing for these changes, you can facilitate a smoother sale process and reduce the risk of contract termination.