The tap has been opened on the interstate move to Queensland. Many Melburnian’s (or so called Melbournite) and Sydneysiders have commenced the migration up north to the sunny shores of Queensland and the pictures acreages surrounding the many hilly mountainous suburbs.

Western Sydney, Inner Sydney, and the many Victorian suburbs whose population has been impacted the most with the events surrounding NSW and Victoria have decided to invest and move to the sunnier lifestyles of their northern cousins.

Whilst the battle between interstate football teams will live on. However, the northern sunny, beachy and pictures mountain sites will now begin to open its doors to our extended interstate family from across Australia.

If you are interested in the interstate move to the golden Queensland landscape? Connect with us and we will help you find the right suburb that fits your need.

Here are some things to be aware of when buying interstate.

Vendor contracts and statutory disclosure

In Victoria and New South Wales contract are required to include certain disclosure regarding the property including a Council planning certificate and other diagram and conditions. There is no such statutory regime in Queensland.

Queensland does not have any requirement and contracts rarely include anything other than the standard REIQ (Real Estate Institute of Queensland) standard terms and a Title Search.

However, at Golden Bell Properties we lay out our dealings with everyone in alignment to our motto. Honesty, Integrity and Value! and we are happy to sign an upfront agreement.

Five-day cooling off period

A cooling off period of five days is allowed for Buyer to withdraw from a Contract.

The cooling off period, isn’t a “get out of jail free” card! Rather a feed card, whilst landing on semiboneless property, the owner is entitled to charge the Buyer, 0.25% of the purchase price as a penalty for termination during the cooling-off period

A cooling-off period of 5 days applies to contracts for the sale of residential property. It will start the day the buyer receives a copy of the contract (signed by both parties).

Please note:

• For contracts that arrive on a weekend or a public holiday, the cooling-off period starts on the next business day.
• The cooling-off period still begins if a representative takes it on the buyer’s behalf.
• If there’s a dispute, the seller (or their agent) must prove when they delivered the contract.

The cooling-off period ends at 5pm on the final (5th) day of the cooling-off period. After this, the buyer must follow through on the contract and buy the property. This remains subject to the terms of the contract.

Quote from Queensland Government : Legal requirements for a Property Transaction

Flood Zones

In some areas of Southeast Queensland, you need to be aware of Flood Zones, or high storm areas.

Queensland is known to get a fair battering by mother nature for not winning one of the State of Origin matches. So, as you may already know, Brisbane properties have been impacted by major flood events over the years.

At Gold Bell Properties, we highly recommend that you place your offers subject to Pest and Building conditions and insuring to obtain a report which performs flood searches.

In Conclusion

Golden Bell Properties recommends selecting a good Solicitors Firm to overlook the conveyancing process. In addition, making sure when placing an offer, and offer in accompanied by subject clauses to support you the purchaser in ensuring you have had an opportunity to check the property you are purchasing.