buying/make an offer in QLD

[RetireRich101]

In Sydney I just make a verbal offer, and likly foolow up with email offer, such as " I would like to make an offer $$$ based on pest inspection...etc"

In QLD, the agent is asking me to complete the Contract of Sale, all buyer name signed and a witness also signed..
Is this a normal QLD legislation or just this Agent/Vendor specifically requesting this?

 

[pinkboy]

In Qld, when you say it, you mean it!

None of this verbal offer guff!

pinkboy

 

[norwoodman]

Also a small deposit is often requested upfront.

 

[spludgey]

It's much easier to walk away from buying in QLD though without any penalties.

If you are going to sign a contract, always make sure that you add a clause that it will expire if not countersigned and exchanged after a certain time.

 

[Qlds007]

Must admit i wouldn't say it is easier to walk away on a Qld contract.

5 business days cooling off period. Cancel during this and you are up for 0.25% of the purchase price.

ST Finance and Building / Pest Inspection. Cancel as a result of these and you maybe asked to provide evidence that you actually applied or the seller could even ask for a copy of the Building Inspection to ensure that your termination was valid.

We prefer to use a more generalized due diligence clause to protect ourselves.

Cheers


Richard

 

[impala67]

In Sydney I just make a verbal offer, and likly foolow up with email offer, such as " I would like to make an offer $$$ based on pest inspection...etc"

In QLD, the agent is asking me to complete the Contract of Sale, all buyer name signed and a witness also signed..
Is this a normal QLD legislation or just this Agent/Vendor specifically requesting this?

Yeah it's standard. Close your eyes and sign away, that's what I did...after I got a local solicitor to check it first.

I'm just looking over mine which settles soon. There's a Warning Statement about the 5 days - like the previous reply, and another form for Electronic Transmission Consent, to email/fax. You might just want to pay a nominal deposit for now.

 

[RPI]

Have attached an example REIQ contract so you can see what they are like