Following extensive review the Queensland government has reformed the sunset clause laws to further protect consumers. Since November 2023 off-the-plan land contracts can now only be terminated by the Seller using the sunset clause in limited conditions.
APRA Rate FAQS : Home Loan Guide for Buyers in Queensland
Conveyancing Guide : Terminating a Contract
Have you signed a house and land contract to purchase in Queensland but are unsure if you can terminate the contract before settlement? Buying a property in Queensland can often easily become a complicated legal process. Horrocks Solicitors have been helping Queenslanders settle their conveyances for over 30 years and are legal conveyancing experts in Brisbane, the Gold Coast and Greater Area. When it comes to contract termination it is strongly advised to contact a conveyancing solicitor to help you through the legal process to avoid any significant mistakes and financial consequences.