In the contract for the transfer of the property, you need to pay special attention to the “Special Terms” column. This is because the Special Terms impose additional obligations on you and also protect your special interests. Real estate agents usually place several special terms in advance in the contract you sign. At this time, you must study it carefully. If in doubt, it is recommended to consult our professional property transfer lawyer first, do not rush to sign.
When acquiring property in Queensland, a standard contract from the Real Estate Institute of Queensland (REIQ) is often used. Although the standard clauses in the REIQ contract comprehensively protect the interests of both the buyer and the seller, the addition of special clauses will additionally increase the responsibilities and obligations of both parties to the contract. Some special terms may be neutral and impartial to both buyers and sellers, for example, electronic signature clauses. Some special clauses may be solely for the purpose of protecting the legitimate interests of intermediaries, such as clauses that require the buyer to assist in paying the sale commission directly from the price payable in lieu of the seller at the time of delivery. However, there are special clauses that aim to remove the relatively fair elements of the standard clauses and replace them with clauses that limit the rights of the buyer. At this time, the buyer must be clear about which of his rights are restricted and what the consequences of the restriction will be.
Details can be found in the following documents：