When purchasing a residential property in Queensland (other than at an auction), the standard contract of sale provides the buyer with a five day cooling-off period, during which time the buyer is free to cancel the contract at any time, for any reason, including a change of mind.

As soon as you sign that contract to buy a property there are a whole host of things that need to be done and considered. One of these things that is often overlooked, but really should be at the top of your to-do list is the issue of insurance.

An electrical safety switch is designed to protect a person from the most frequent cause of electrocution, which is electrical current passing through the body to earth. A safety switch is designed to cut the supply of electricity to the property in a fraction of a second.

If you’re considering buying a property in Queensland then you should be aware that under the standard contract of sale there is a clause for a pest & building inspection to be carried out on the property prior to settlement.