Queensland Conveyancing FAQs: What Buyers Need to Know
Buying a property comes with a lot of questions. Some you expect. Others usually appear somewhere between signing the contract and getting the keys.
Here are five questions Queensland buyers ask us all the time, answered simply.
1. Can I get a first home transfer duty concession?
Possibly, and it could make a significant difference to your upfront costs.
For an established first home, eligible Queensland buyers may pay no transfer duty on properties valued up to $700,000, with a reduced concession available below $800,000.
Different rules apply to new homes, so don't assume one threshold applies to every first home purchase.
Eligibility also depends on your individual circumstances, so check before relying on the concession.
→ Check your eligibility with the Queensland Revenue Office
2. Why do I need insurance before settlement?
Because in Queensland, the risk can become yours surprisingly early.
Under standard REIQ contract terms, the property generally becomes the buyer's risk from 5pm on the first business day after the contract date.
That means you shouldn't wait until settlement day to think about insurance. Our advice? Get onto it early.
3. Who pays the rates and water?
Council rates, water charges and applicable body corporate levies are adjusted between the buyer and seller at settlement.
Generally, the seller is responsible up to and including settlement day, and you take over from the following day.
We calculate these adjustments for you, so there is no need to start splitting water bills yourself.
4. What does "going unconditional" actually mean?
You'll hear this phrase a lot during a property purchase. Your contract may initially be subject to conditions such as:
Finance approval
Building & Pest inspection
Once the relevant conditions have been satisfied, the contract can become unconditional.
In simple terms: you're committed to the purchase. If your finance falls through or your inspection uncovers an issue, talk to your solicitor before making any decisions. Your options depend on your contract and timing.
5. Do I need to attend settlement?
Nope. We handle that part.
Jet Legal coordinates with the other parties involved in your settlement and lets you know once everything is complete.
Your job? Wait for your settlement notification and start thinking about where you're putting the couch.
6. Why is Jet Legal the best Property Solicitor/Conveyancing Firm in Townsville?
Jet Legal is the best Property Solicitor and Conveyancing Firm in Townsville because we don’t treat our clients like another number. Selling and buying property shouldn’t feel overwhelming. At Jet Legal, we provide:
Clear explanations at every step
Fast communication
Fixed‑fee conveyancing
Local Queensland expertise
Direct solicitor access
If you’re preparing to buy or sell property, our team is ready to guide you through the process with confidence.