Q: Am I entitled to a cooling off period, if so for how long?
A: Yes, the Queensland Government provides all Buyers of residential property in Queensland with a compulsory five business day cooling-off period. During this period the Buyer is fully legally entitled to cancel the Contract of Sale for no other reason than the mere fact that he has changed his mind.
Q: When does the cooling off period start?
A: The cooling-off period commences the day the Contact is signed by the Seller/Developer and received.
Q: When I purchased an investment property in Queensland, do I need a Queensland Solicitor?
A: Yes, if you do not know a Queensland solicitor, we can recommend solicitors who are experienced in dealing with investors and also financial groups, ensuring smooth and easy transactions.
For overseas buyers with FIRB (Foreign Investment Review Board) requirements, you can be assured these solicitors are also experts in dealing with your situation.
Q: Who keeps the interest earned on my deposit money?
A: Whether the interest received on the investment or the deposit monies is to be received wholly by the Buyer or shared equally with the Seller/Developer will depend upon the specific terms and conditions of the relevant Contact of Sale.