If you’re buying or selling property in Queensland, especially in Townsville, it’s important to stay up to date with changes to the Real Estate Institute of Queensland (REIQ) standard contracts. From January 2022 to August 2025, the REIQ has made several important changes that affect buyers, sellers, and their representatives.

Understanding these changes helps you avoid surprises, protect your interests, and ensure smooth property transactions. Here’s a simple guide to all the key updates you need to know about.

What Are REIQ Contracts?

REIQ contracts are standard forms used for residential and commercial property sales in Queensland. They set out the terms and conditions agreed upon by buyers and sellers. Because they’re widely used, any changes to these contracts impact most property transactions in the state.

Key Changes to REIQ Contracts

1. Extensions to settlement dates

One of the most significant changes allows buyers or sellers to extend the settlement date by up to five business days. Previously, both parties needed to agree to any extension. Now, either party can unilaterally extend the date by giving written notice before 4 PM on the original settlement day.

This can be especially helpful when settlements get delayed due to reasons outside your control, like banking processing times or unexpected issues with lenders.

2. Electronic deposit payments

With the rise of digital banking, the contracts now specifically address electronic payment of deposits. If you pay your deposit by direct debit or other electronic methods, the contract clarifies that the payment date is counted as the day you make the payment, not the day the money clears.

You’ll need to keep proof of payment (like a screenshot or receipt) to avoid disputes. Plus, if a deposit isn’t paid by the due date, the seller can no longer immediately cancel the contract. Instead, they must give two business days’ notice to complete payment before termination.

3. New smoke alarm clause

Since 1 January 2022, Queensland has updated smoke alarm safety laws. The new REIQ contracts include a clause requiring the seller to install compliant smoke alarms by settlement day.

If the seller fails to meet this obligation, the buyer is entitled to a price adjustment of 0.15% of the purchase price. For example, on a $750,000 property, this means a $1,125 adjustment. Buyers also now have the right to enter the property before settlement to check that these alarms have been installed.

4. Pool compliance certificates

If the property has a private pool, sellers must provide a valid pool safety certificate at settlement.

If a “Notice of No Pool Safety Certificate” is given to buyers before contracts are exchanged, this requirement does not apply.

This measure helps ensure pool safety requirements are met and buyers are informed.

5. Additional seller warranties

The contracts now include more extensive seller warranties (i.e. promises sellers make about the property). One new warranty is that sellers must confirm they haven’t received any notices from authorities, such as enforcement or “show cause” notices, that might affect the property.

If sellers do receive such notices before the contract is signed, buyers may have grounds to terminate the contract. This protects buyers from unexpected legal or compliance problems after purchase.

6. Infrastructure and disclosures for services

New contracts must clarify responsibilities and rights around services infrastructure like water, sewerage, electricity, or gas.

If infrastructure not protected by easements or registered agreements is discovered on the land and wasn’t disclosed by the seller, buyers now have the right to terminate the contract.

This prevents buyers from inheriting unknown or problematic service lines or equipment.

What Do These Changes Mean for Buyers and Sellers?

For buyers, these changes improve protections around deposit payments, safety obligations (like smoke alarms), and disclosures about the property. You gain more certainty and options to avoid unexpected issues.

For sellers, the new warranties and certification requirements mean greater responsibility to disclose information and meet statutory obligations to avoid disputes or contract cancellations.

The ability to extend settlement timeframes also gives both parties flexibility to handle delays without immediate fallout.

Why Seek Professional Help for Buying or Selling

Property contracts may look straightforward, but small wording changes can have big impacts on your legal rights and obligations. An experienced buyer’s solicitor or conveyancer for sellers can:

• Explain how contract changes affect your transaction
• Review your contract carefully for risks
• Negotiate special conditions suited to your circumstances
• Help you meet deadlines and meet settlement conditions

Need Help Understanding REIQ Contracts?

At Townsville Conveyancing Centre, we are experts in Queensland’s property laws and REIQ contracts. Whether you’re a buyer or seller, our conveyancer in Townsville can provide clear guidance through every step. 

Contact us today for a contract review or a no-obligation quote.

Disclaimer: This blog is intended for informational purposes only and does not constitute legal advice. For guidance tailored to your specific circumstances, please consult a qualified legal representative.