Before you look
Do a budget to help you save your deposit, research the housing market and consider all the costs you might need to pay.
Appoint a real estate agent - buyer's agent
You can appoint an agent to find the right property for you and to negotiate on your behalf.
Visit several financial institutions and consider using a mortgage broker to help find the best loan for you.
Select a home
When you find a home, get a professional valuation to help you understand its true value. You also need to be aware of the differences in buying at auction and buying off the plan.
Make an offer
A contract of sale is drawn up to formalise your offer and you will pay your deposit. Residential property sales have a five day cooling-off period.
Sale and settlement
Usually, you will take possession of your new property on settlement day.
Pay off your mortgage
Use these suggestions for paying off your mortgage. Get help immediately if you are struggling with your loan repayments.
From 27 June 2012, a sustainability declaration is no longer required when selling a house, townhouse or unit in Queensland.
The Building Act 1975 and the Property and Motor Dealers Act 2000 have been amended to remove the legal requirements on sellers (vendors) and real estate agents to provide a sustainability declaration when selling or advertising a property for sale.
The amendments retain provisions to protect buyers and sellers in existing contracts, where inaccurate or misleading information is contained in a sustainability declaration. These transitional arrangements provide that:
- A contract cannot be terminated simply because of inaccurate or misleading information in a sustainability declaration.
- A buyer who has been disadvantaged because of inaccurate or misleading information can seek compensation.
Last reviewed 19/11/2012