Buying a house in Queensland: a 7-step guide from offer to settlement
Buying a home in Queensland has its own rhythm, set by the Form 2 disclosure statement you receive before signing, by whether you buy privately or at auction, and by the fact that Queensland conveyancing is always handled through a solicitor. This guide walks through the whole purchase in seven steps, from working out what you can afford to getting the keys, and links to the detailed Queensland guides on cost, duty and cooling-off rather than repeating them.
Step 1: Work out your budget and total cost
Before inspecting, get a realistic picture of what a purchase costs beyond the price. The largest added cost for most buyers is transfer duty (Queensland's transfer duty, its name for stamp duty): on a $700,000 home the standard duty is $24,525, though an owner-occupier pays the lower home concession rate and a first home buyer usually pays much less again. On top of duty, budget for your solicitor's fee and disbursements, the Titles Queensland registry fee, a building and pest inspection, and loan costs. The full breakdown at several prices is in the conveyancing cost Queensland guide.
If this is your first home, check your duty savings early: an eligible first home buyer pays no transfer duty up to $700,000 on an established home (uncapped nil duty for a genuinely new home or vacant land from 1 May 2025), and a new home can attract a $30,000 grant. See the first home buyer Queensland guide.
Step 2: Review the Form 2 disclosure statement and contract
Since 1 August 2025, the seller must give you a signed Seller disclosure statement (Form 2) before you sign the contract. It discloses the property's title and encumbrances, zoning and planning notices, environmental and resumption notices, pool safety and community titles scheme details, and more. This is the moment to have your solicitor review both the statement and the contract, because on a private treaty sale you can still negotiate or walk away, and at an auction there is no window to do so afterwards. Engaging your solicitor at this step, not after signing, is the most valuable thing a Queensland buyer can do. The full sequence is in the Queensland conveyancing process guide, and every disclosure category is explained in the Form 2 seller disclosure statement guide.
Step 3: Make an offer or bid at auction
How you commit depends on how the property is sold:
- Private treaty: you make an offer through the agent and negotiate price and terms. Nothing is binding until you sign, and a private treaty sale carries a cooling-off period once you receive the fully signed contract.
- Auction: if you are the successful bidder you sign on the spot with no cooling-off period. That means your contract review, finance and inspections must all be finished before you raise your hand.
Decide which path you are on early, because it changes how much has to be done before you commit.
Step 4: Sign the contract and pay the deposit
When terms are agreed, you sign the contract of sale, the seller signs it too, and you pay the deposit, commonly up to 10% of the price, usually held in trust until settlement. Make sure your building insurance and finance are lined up, because from here the transaction moves toward settlement. Note that signing is not the same moment your cooling-off clock starts; see the next step.
Step 5: Use your cooling-off period
On a private treaty sale you then have 5 business days to change your mind. The clock starts when you receive a copy of the contract signed by both you and the seller, not the day either of you signs it; a weekend or public holiday delivery pushes the start to the next business day. If you withdraw within the period the penalty is up to 0.25% of the purchase price, and the rest of any money paid is returned within 14 days. There is no cooling-off period at auction. The mechanics and the full list of exceptions are in the cooling-off period Queensland guide.
Step 6: Prepare for settlement
Once the cooling-off period passes, your solicitor works through the run-up to settlement:
- Assessing transfer duty and lodging any home concession or first home concession you are entitled to.
- Running a final title search to confirm nothing new is registered against the property.
- Coordinating your lender so loan funds are ready, and calculating rates and water adjustments.
- Booking the settlement date and time in the electronic settlement workspace.
Arrange a pre-settlement inspection in the days before settlement to confirm the property is in the condition it was in when you signed.
Step 7: Settlement day and the keys
Settlement is the day ownership passes to you. Most Queensland settlements complete electronically through the PEXA platform: the solicitors transfer the price to the seller after discharging their mortgage, the transfer duty is paid, and the transfer is lodged with Titles Queensland. When settlement confirms, the agent releases the keys. Afterwards, the title is updated to your name, your lender registers its mortgage if you borrowed, and you transfer utility and council accounts across.
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Conveyancing Explained provides general information about property transactions in Australia. It is not legal advice and does not create a client relationship. For advice on your situation, engage a licensed conveyancer, settlement agent, or property solicitor in your state or territory.