Frequently Asked Questions | Queensland Buyer's Agency

Under Queensland property law, residential property contracts generally include a statutory 5-business day cooling-off period:

• When It Begins & Ends: The 5-day period starts the day you (or your solicitor) receive a copy of the fully signed contract. If received on a weekend or public holiday, the clock starts on the next business day and expires at 5:00 PM on the 5th business day.

• Cancelling the Contract: You can choose to terminate the contract for any reason during this period. However, the seller is legally entitled to retain a termination penalty of up to 0.25% of the purchase price from your deposit.

• Exceptions: The cooling-off period does not apply to properties bought at auction (or within 2 business days after an unsuccessful auction as a registered bidder), or if you explicitly agree to waive it in writing.

As your Buyer's Agent, we conduct thorough due diligence before you sign so you never have to rely on cancelling or risking your penalty fee.

In competitive Queensland multiple-offer situations, winning isn't just about throwing the most money at a property—it's about smart strategy and terms:

• Establishing Your Walk-Away Limit: Before presenting an offer, we conduct thorough market comparisons to determine true fair value and set a strict "walk-away price" to prevent emotional overbidding.

• Strategic Contract Terms: Sellers often prioritize certainty over price. We structure favorable terms—such as flexible settlement dates, tailored deposit amounts, or pre-aligned clauses—to make your offer the most attractive to the vendor.

• Direct Vendor Intelligence: We engage directly with the selling agent to uncover what the vendor truly values, positioning your offer strategically to give you a competitive edge without overpaying.

Beyond the purchase price of a property, buyers should budget for essential government, legal, and operational fees:

• Transfer Duty (Stamp Duty): The largest additional cost, calculated based on the property value and usage (e.g., owner-occupiers pay lower rates, first-home buyers may qualify for exemptions up to $700,000, while investors pay standard transfer duty).

• Conveyancing & Legal Fees: Fees paid to your solicitor or conveyancer to handle title searches, contract reviews, and legal settlement ($1,200–$2,500+).

• Building & Pest Inspections: Essential physical inspections carried out during the due diligence period to identify structural issues or termite activity ($500–$900+).

• Lender & Valuation Fees: Bank application fees, independent valuation charges, or Lenders Mortgage Insurance (LMI) if borrowing over 80% LVR.

• Council Rates & Body Corporate Adjustments: Pro-rata adjustments for local council rates, water, and strata levies calculated on settlement day.

As your Buyer's Agent, we provide a complete, itemized cost breakdown before you sign any contract so you know your exact "funds to complete" with no hidden surprises.

The main distinction comes down to who the agent legally represents and whose interests they protect:

• Selling Agent (Real Estate Agent): Works exclusively for the vendor (seller). Their legal duty is to market the property and negotiate the highest possible price and terms favoring the seller.

• Buyer’s Agent: Works exclusively for you (the buyer). Our legal duty is to source off-market properties, perform due diligence, and negotiate the lowest possible price with the most favorable terms for your protection.

Simply put: the listing agent fights for the seller's maximum profit, while BESTTA Buyer's Agent stands in your corner to save you time, money, and stress.