Caveat emptor / buyer beware

Under the current legislation in Queensland, sellers have very limited obligations to disclose certain things under the contract e.g. the seller does not have an obligation to disclose defects such as structural improvements, planning restrictions, etc.

Searches can uncover certain issues with the property but the buyer will not always have automatic rights (i.e. to terminate or claim compensation, etc) under the contract.

If a buyer has particular concerns that they want to get checked (e.g. asbestos, electrical, plumbing, approvals) then they should seek advice before entering into a contract to ensure special conditions protect their interests.

Should you require assistance with your contract or have any questions regarding caveats, please do not hesitate to contact our friendly team on 1300 765 488.