Effective from 1st August 2025, significant changes will take place in Queensland’s property law, particularly for sellers involved in property transactions. While the core terms of a contract of sale will largely remain unchanged, there will be a new requirement that sellers must meet before proceeding with the sale. This change takes the form of a completely separate document to the contract of sale, being the Seller Disclosure Statement, a document that must be provided to potential buyers before they sign a contract.

What is the Seller Disclosure Statement?

The Seller Disclosure Statement is a new legal requirement designed to provide potential buyers with comprehensive information about the property. This document will include property-specific details as well as search results to help buyers make well-informed decisions before entering a purchase contract. The intent is to ensure transparency and reduce the chances of disputes arising during or after the transaction process.

While this new requirement brings Queensland in line with other Australian states, such as New South Wales, it marks a significant shift in how property transactions are conducted in the state. As such, sellers need to be aware of their obligations and the importance of getting this document right.

Why is the Seller Disclosure Statement Important?

Providing an accurate and complete Seller Disclosure Statement is essential for protecting both parties involved in the transaction. If the statement is not provided before the buyer signs the contract, or if information in the Statement is incorrect and the buyer relied on that information in their decision to proceed with the purchase, the buyer has the right to terminate the contract at any stage, including up to the settlement date, without penalty. This can result in delays, increased costs, potential legal complications and complete termination of the matter.

How Reid Legal Group Can Assist

At Reid Legal Group, we are committed to supporting sellers in meeting their legal obligations and ensuring that the sale of their property proceeds smoothly. We offer the following services to assist in the preparation and submission of the Seller Disclosure Statement:

  • Efficient Processing: We provide quick turnaround times for the Seller Disclosure Statement, minimising delays before the signing of the contract.

  • Risk Reduction: A solicitor will review your Seller Disclosure Statement to ensure all details are accurate, helping you avoid potential issues that could lead to contract termination.

  • Comprehensive Search Results: We will gather all necessary and recommended property search results to include in the Seller Disclosure Statement, ensuring the buyer has access to all relevant information, which reduces the chance of the buyer terminating the contract.

Why You Should Use the Same Firm for Both the Seller Disclosure Statement and Conveyancing

For optimal results and to ensure continuity of service, Reid Legal Group recommends that sellers engage us for both the preparation of the Seller Disclosure Statement and the conveyancing process for their sale. Further, we only prepare a Seller Disclosure Statement for sellers who engage us to proceed with the conveyancing on their sale once the contract is signed by all parties. Working with separate firms for these tasks can introduce unnecessary complications and increase the risk of mistakes. By using the same firm from start to finish, we can ensure a smooth, efficient transaction and protect your interests at every stage.

If you have any questions about the new Seller Disclosure Statement requirements or would like assistance with your property sale, please don’t hesitate to get in touch with the team at Reid Legal Group. We are here to help you navigate these changes and ensure your property sale meets all legal requirements.