The REIQ Contract Explained: The Clauses That Actually Matter

In this blog/video, we discuss the new REIQ contract updates – there are 9 key changes agents need to understand to keep deals smooth and compliant.

We break down exactly what’s new, what’s risky, and what to do to ensure your deals are protected!

Prefer to watch/listen? Click here to consume this content via YouTube!

Hi everybody – George Sourris, Empire Legal.

Today’s topic: New REIQ Contracts – 9 traps real estate agents need to know about!

New REIQ contracts – what real estate agents need to know to succeed. If you’re a real estate agent in Queensland, you’ll know the REIQ contract of sale is the backbone of almost every property transaction. Recently, on 01 August, 2025, the REIQ rolled out new additions of both the house and residential land contract, and the community title scheme  contracts. 

Here’s a breakdown of the 9 key updates you need to understand, so you can guide your clients confidently to avoid any nasty surprises at settlement.

Number 1 – combined contracts.

The new REIQ contracts (first edition), combine the residential house and land contract and the community title scheme contract, into one new contract. 

This means no longer do you need to pick the correct contract type for the property that you’re selling. They’re now all located in one convenient contract. That’s why guys, it’s super important to use this new first  edition  and not older editions.

Number 2 – new disclosure obligations.

The most significant shift is around seller disclosure. Sellers must now provide a Form 2 seller’s disclosure statement before the buyer signs the contract. If you haven’t heard this by now, then you’ve been living under a rock. We’ve been talking about it for months.

For agents, this means you’ll need to factor in extra time before a contract is signed. Budget about a week. If you do this at the Form 6 appointment stage, you’ll be ready when the property hits the market, should an early buyer come along. It’s critical to ensure the disclosure statement is complete and accurate, otherwise the buyer will have a right to terminate.

And supporting searches like contaminated land, easements, et cetera, are essential to be provided alongside the disclosure. Remember, our firm can take care of all of this for you. All you need to do is introduce them to us and we’ll take care of the rest.

All required information is available on  our  website.

Number 3 – tenancy schedule.

The new contracts have amended the way we deal with tenancies. Tenant details are now to be attached and not included in the contract body. This is an annexure, with information such as the names of the tenants, the terms and options, including start date, end date, bond, rental amount. Also, the details of the rental manager are required, including the property manager, agency, contact details, address, et cetera. Make sure that’s filled out. The contract on page 4 still obliges the vendor to advise if the property is subject to a residential tenancy agreement or rooming accommodation agreement at any time within the last 12 months before the contract date.

If so, vendor must advise the day of the last rent increase for each residential premises. If you want a copy of the “tenancy schedule annexure”, we’ve got that available in the blog. You can download it  as  a PDF here.

Number 4  – GST and land tax clauses.

The contracts place stronger emphasis on sellers seeking tax advice before signing. You should have been instructed in your Form 6 as to which option is correct given the circumstances that apply to the vendor. If you’re unsure, always ensure the client gets that information from their accountant.

We can’t give tax advice. Real estate agents, you can’t give tax advice as we’re not qualified to do so.

Note that either the GST or land tax sections, if they’re left blank, there is a default option that will apply. Always check with the client and get their instructions. Don’t guess. You do not want the seller turning around pointing the finger at you if there’s a problem.

Number 5 – pool safety.

New pool safety laws. If a property is being sold in Queensland with a pool, and they have given the buyer a pool safety certificate, that was current at the time it was given, for example, at the time the seller’s disclosure was given to the buyer, the seller is not required to provide a further pool safety certificate, even if it expires during the contract period. If no pool safety certificate is given, then a Form 32 Notice of No Pool Safety must be provided prior to the buyer entering into the contract.

Number 6 – new extension right.

A new standard clause – 6.3 has been introduced for late unsigning of documents, which could complicate matters if the other side’s conveyancer is inexperienced.

If a party in a PEXA workspace is unsigned between 3:00pm and 4:00pm and does not resign before 4:00pm, the matter is automatically extended to the following business day.

Keep in mind, this clause can only be used once, so if it happens again on the same contract, it is invalid.

Number 7 – new standard clause Inspection of Body Corporate Records.

You’ll see a new clause for the inspection of body corporate records. If a timeframe is filled in, the buyer has a right to inspect the body corporate records. If they’re not satisfied with their findings, they can terminate the contract.

They must give written reasons to the seller without delay, if they do terminate and the seller requests more information as to why the buyer terminated. The buyer must also take all reasonable steps to inspect the body corporate records.

Number 8 – body corporate information.

Statutory warranties and contractual rights. Controversial topic, guys. Prior to these new contracts, you may have been able to get away with writing: “refer to disclosure statement” for some or all of these questions. You can’t do that anymore, because there is no disclosure statement for body corporate matters, It’s now called the “Body Corporate Certificate”. Writing “refer to disclosure statement” will not fly, because this information is not in the body corporate certificate or the new Form 2 disclosures.

So, how do you find the answers? Great question! Ideally, ask your client if they don’t know, then they can discuss with their body corporate, or otherwise an additional search through a body corporate search agent, which may find the correct information for compliant disclosures.

Number 9 – place for settlement updated with new REIQ contracts.

So now the “place for settlement” section depends on whether the seller has a solicitor. If the seller’s solicitor has an office in Queensland, the settlement takes place in the city or town where that office is located. If the seller doesn’t have a solicitor or their solicitor is not based in Queensland, the default settlement will be Brisbane CBD.

The “place for settlement” section matters because if electronic settlement isn’t possible for some reason, the place for settlement is what decides the fallback location for a paper settlement.

Wrapping it all up.

The new REIQ contracts are designed to increase transparency and certainty, but they also introduce new traps for the unwary. As the first point of contact for most buyers and sellers, you, real estate agents play a key role in ensuring contracts are compliant, accurate, and enforceable.

At Empire Legal, we’ve already been working with the new contracts, new forms, and of course the biggest shakeup of them all – the new disclosure obligations. If you want to take the legal load off your plate, Empire Legal is here to help. We want to work alongside high performing real estate agents to enhance your client’s experience and have a smooth sail, all the way to settlement.

What you want when you’re picking a provider to work with is a trusted choice. If you’re thinking about engaging someone else, just Google them. Read their reviews. That’ll be the true test, what the public says about that company. All the information you need to get started is on our website. Check out our Instagram and if we look like a good fit for your brand, all you need to do is refer us to your clients and we’ll take care of the rest.

Guys, that’s it for this week. Hope you learned a thing or two. Please feel free to get in touch if you’ve got any questions. Empire Legal – happy to help. Queensland’s trusted choice for conveyancing. Over 3,029 Google reviews with a five star average. There’s not many firms out there that have that five star average. With that many reviews, guys, and not to mention over 16,000 deals settled. Thanks guys. We’ll see you next week.

Finally, if you haven’t heard, we’ve launched our podcast. It’s called Raising the Bar, where we story tell excellence in Queensland property. Here is the link to listen. If you prefer to watch, here is the YouTube link.

Also, stay up to date with our miniseries on Seller’s Disclosure.

Thanks guys. We’ll see you next week!

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Thanks for reading everybody. See you on the next one.

Ladies and gentlemen, please keep in mind that all advice is general in nature and does not constitute legal advice. This is authorised by George Sourris, Empire Legal, Brisbane, Queensland, Australia.

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Note: all information is general in nature and as each matter is unique please contact our office for tailored advices: the above does not constitute legal advice. 

What is the REIQ contract?

The REIQ contract is the standard form contract published by the Real Estate Institute of Queensland and used for most residential sales in the state. The common one is the Contract for Houses and Residential Land, with separate editions for units, vacant land and commercial property.

It is a standard form, which means most of it is not negotiated. The parts that decide your risk are the reference schedule at the front, the special conditions at the back, and a handful of clauses in the middle that people never read.

What does clause 7.6 requirements of authorities mean for a buyer?

Clause 7.6 deals with notices or orders issued by a public authority that require work to be done on the property. Broadly, where such a requirement was issued before the contract date it is the seller’s responsibility, and where it is issued after the contract date it becomes the buyer’s.

The practical risk is a notice that exists but was never disclosed, and the practical defence is searches. A council or authority search run during your due diligence period is what surfaces these, and it is far cheaper than discovering an outstanding order after settlement.

If a requirement turns up between contract and settlement, tell your solicitor immediately rather than at settlement. The date it was issued decides who wears it.

Which clauses in the REIQ contract actually matter?

• The reference schedule. Names, entity, price, deposit, dates and the included chattels. Most disputes start with an error here.
• Finance. The date, the amount and the lender. A finance clause that names the wrong lender is worth very little.
• Building and pest. The date, and whether the clause lets you terminate on any reasonable ground.
• Clause 6.2 and the settlement date. Time is of the essence in this contract.
• Clause 7.6. Requirements of authorities, as above.
• Special conditions. Anything typed in by an agent or the other side. This is where the risk is concentrated.

Is time of the essence in the REIQ contract?

Yes. Every date in the contract is a hard date, not a target. Miss a finance date or a settlement date and you are in breach, and the other party may be able to terminate and claim on the deposit.

If you are going to miss a date, the time to deal with it is before it passes, by seeking an extension in writing. After it passes, you are negotiating from a position of default.

Can you change the REIQ contract?

Yes, by special condition, and this is where a solicitor earns their fee. Agents are permitted to fill in the blanks on a standard form. Drafting special conditions is legal work, and a poorly drafted special condition is worse than none because it can create an obligation you did not intend.

Before you sign, use our pre-contract checklist to see what we review on every contract.

Do you have to use the REIQ contract in Queensland?

No. There is no legal requirement to use it, and other standard forms and bespoke contracts are used, particularly for commercial property, off the plan sales and developer contracts. A contract that is not the REIQ form deserves more scrutiny, not less, because the protections you assume are there may not be.