If you`re in the market for a new home or residential land, it`s important to understand the legalities involved in the buying process. That`s where the REIQ Contract for Houses and Residential Land 15th Edition comes in – it`s a comprehensive document that outlines the terms and conditions of the sale between the buyer and seller.

As a professional, I know the importance of using keywords in articles to make them more visible to search engines. That`s why it`s important to note that the REIQ contract is specific to Queensland, Australia.

The 15th edition of the contract was released in 2019 and includes updates to reflect changes in legislation and industry standards. The contract covers a range of areas, including the purchase price, deposit, finance, and settlement.

One of the key features of the contract is the «cooling-off period», which gives buyers the option to withdraw from the contract within five business days of signing. This is designed to give buyers time to fully consider their decision and seek legal advice if necessary.

The contract also includes provisions for building and pest inspections, as well as the transfer of ownership and any applicable warranties. It`s important to note that the contract does not cover every aspect of the buying process, so buyers should consider seeking legal advice to ensure they fully understand their rights and obligations.

Overall, the REIQ Contract for Houses and Residential Land 15th Edition is a valuable tool for both buyers and sellers in ensuring a smooth and legally-compliant transaction. By understanding the terms and conditions outlined in the contract, buyers can feel confident in their purchase and sellers can rest assured that the sale is legally binding.