The skies above the Gold Coast and Brisbane are beginning to fill with cranes as confidence in the Queensland property market increases. With this huge increase in development comes an increase in new apartments flooding onto the market. Most of these apartments are sold before construction finishes in what is termed as an off-the-plan contract.
Understanding Conveyancing – The Building and Pest Condition:
In Queensland the standard contracts of sale, being either the REIQ Contract, or the ADLForms Contract, include a standard building and pest condition. What this means is that a contract for the purchase of property will be subject to the buyer undertaking a building and pest inspection of the property and being satisfied with the report they receive following the inspection.