Starting 1 August 2025, Queensland’s property laws are changing with the introduction of the mandatory Seller Disclosure Scheme under the Property Law Act 2023. This shifts the traditional “buyer beware” approach to a more balanced system, giving buyers essential information before committing to a property purchase.
What is the Seller Disclosure Scheme?
The Seller Disclosure Scheme requires sellers to provide prospective buyers with specific documents before a contract of sale is signed. These include:
- Seller Disclosure Statement (Form 2): A standardised document detailing key information about the property.
- Prescribed Certificates: Such as title searches, zoning information, and compliance certificates.
These documents must be provided to the buyer in a prescribed manner, ensuring transparency and allowing buyers to make informed decisions.
Key information included in the Seller Disclosure Statement
The Seller Disclosure Statement must contain:
- Property title information: Ownership details and any encumbrances.
- Council zoning and planning notices: Land use and planning restrictions.
- Building compliance certificates: Proof that building works comply with regulations.
- Rates and water charges: Outstanding amounts payable.
- Pool compliance certificates: If applicable, confirming pool safety standards.
- Body corporate documents: For properties within a community titles scheme.
These disclosures give buyers a comprehensive understanding of the property’s legal and physical status.
Buyer Protections and Rights
If a seller fails to provide the required disclosure documents or provides inaccurate information, buyers can:
- Terminate the contract: Cancel the agreement before settlement.
- Claim a refund of the deposit: Receive a full refund of any deposit paid.
These protections help ensure buyers are not bound to contracts based on incomplete or misleading information.
How buyers can prepare
To navigate the new disclosure requirements effectively, buyers should:
- Review the Seller Disclosure Statement carefully: Check all documents for discrepancies or concerns.
- Seek professional advice: Consult a solicitor or conveyancer to understand the implications of the disclosures.
- Verify compliance: Ensure all prescribed certificates are included and up to date.
Being proactive can help prevent potential issues and ensure a smoother property transaction process.
How PMC can help
Navigating these new disclosure requirements can be complex. PMC Property Buyers specialise in guiding buyers through every step of the property purchase process. From reviewing seller disclosure documents to negotiating the best outcome, we help you make confident, well-informed decisions.
If you’re looking to buy in Queensland, let our team be your trusted partners. Contact us today to discuss your next property purchase and ensure you’re fully prepared.