Buying a House in QLD: The 12 Steps From Pre-Approval to Settlement
Buying a house in QLD takes 12 steps, from working out what you can borrow to collecting the keys. The legal part runs from the day you sign the contract to settlement, which is usually 4–6 weeks later, though you can negotiate a different date with the seller.[1]
This guide sets out each step in order, with the timeframes and rules that apply in Queensland, so you know what comes next and what to have ready. It is about how a purchase works. If you would like to see how IPS runs a search for a client, read our step-by-step process for finding the right home.
Key takeaways
- Get loan pre-approval before you search. It shows your price range, but the loan still needs final approval.
- Have a solicitor or conveyancer lined up before you make an offer, so a contract can be read the day you get it.
- Before you sign, the seller must give you a disclosure statement and certificates.
- Conditions such as finance and building and pest protect you only if they are written into the contract.
- A private-sale contract has a cooling-off period of five business days; an auction contract has none.
The 12 steps at a glance
Here is the whole purchase on one page. The sections below explain each step.
| Step | When | What to know |
|---|---|---|
| 1. Budget and borrowing capacity | Before you search | What you can borrow depends on your income, commitments, deposit, savings and credit report[2] |
| 2. Loan pre-approval | Before you search; usually lasts 3 to 6 months | An indication of what you can borrow, not a final approval[2] |
| 3. Solicitor or conveyancer, and broker | Before you make an offer | The Queensland Government says to strongly consider a solicitor[3] |
| 4. Research and search | Weeks to months | Compare recent sales and inspect widely |
| 5. Checks before you commit | Before you offer or bid | Essential before an auction, where there is no cooling-off period[4] |
| 6. Offer or auction | When you find the home | Offer verbally, on a written offer form, or in the contract[5] |
| 7. Seller disclosure and signing | Before you sign | Disclosure statement and certificates come first[6] |
| 8. Deposit and insurance | Normally within 2 to 3 days of signing | The property is usually at your risk from 5pm the next business day[5][7] |
| 9. Cooling-off period | 5 business days (private sales only) | End the contract for any reason, at a cost of up to 0.25% of the price[8] |
| 10. Finance and building and pest | By the dates in the contract | Once conditions are met, the contract is unconditional |
| 11. Transfer duty and settlement preparation | Duty lodged within 30 days of the contract date | Budget for duty from the day you sign[9] |
| 12. Settlement and keys | Usually 4–6 weeks after the contract | You pay the balance, receive the title and get the keys[1] |
After settlement there are a few owner’s checks, such as safety switches and smoke alarms.[10] At auction, steps 5 to 9 happen differently: the checks come before auction day and the contract is signed on the spot.
Steps 1 and 2: budget, deposit and pre-approval
Step 1: work out your budget
Moneysmart says what you can borrow depends on your income, your financial commitments, your deposit and other savings, and your credit score and report, and that what a lender will lend may be more than you are comfortable repaying. It suggests checking your repayments would still work if interest rates rose by 2%.[2]
For the deposit, Moneysmart suggests aiming for 20% of the price plus your buying costs, such as stamp duty, legal fees and inspections, because a 20% deposit can help you avoid lenders mortgage insurance.[2] Our property purchase calculator adds transfer duty and fees to the price, and our list of the costs of buying a house in QLD explains each one. If it is your first home, our guide to preparing to buy your first home in Queensland covers savings and the schemes to check.
Step 2: get pre-approval
For pre-approval, a lender reviews your finances and indicates how much you may be able to borrow. It usually lasts 3 to 6 months, helps you set a price range and shows sellers you are serious. It is not a final approval: the lender still assesses your circumstances and the property before final approval.[2] Keep your finances steady while you search, and tell your broker before you take on new debt.
Step 3: line up a solicitor and a broker
The Queensland Government says you should strongly consider hiring a solicitor when you buy a home, to help with the legal requirements.[3] Choose one before you find the property. Once you are handed a contract, things move in days, and you want someone ready to read it straight away. Do the same with your broker or lender, so they know your price range and can move quickly on a formal application.
Step 4: research and search
Compare recent sales of similar homes, inspect widely, and narrow down the suburbs that fit your budget and needs. Our Brisbane suburb reports are a place to start. Remember that the selling agent acts for the seller; our post on dealing with selling agents in Brisbane explains how to work with them.
Step 5: check the property before you commit
Ask for the contract and the seller disclosure documents early, check the council’s flood information, and decide whether you need a valuation (our guide to property valuation in Brisbane explains the options). In a private sale, you can usually make your offer subject to a building and pest inspection and do it after signing. At auction there is no cooling-off period and the terms of sale usually require an unconditional bid, so the inspections, the contract review and your finance must be done before auction day.[4]
In a private sale, you can usually make a verbal offer, fill in a written offer form, or put your offer into a contract of sale provided by the seller’s agent.[5] Price is one term. The deposit, the settlement date and any conditions are the others, and each can make your offer stronger or weaker without changing the price.
Common conditions include getting finance, a satisfactory building and pest inspection, and selling your existing home. They only protect you if they are written into the contract you sign, and checking that is your responsibility.[5]
At auction, the successful bidder signs the contract immediately and must settle even if the house does not pass inspections or they cannot afford it.[4] Moneysmart notes that auction deposits are typically around 10% of the price and due immediately.[2] Our guide to buying at auction in Brisbane explains how to prepare, and our guide to vendor bids at auction explains one of the rules buyers find hardest to read on the day.
Step 7: read the seller disclosure, then sign
Since 1 August 2025, the seller must give you a disclosure statement and prescribed certificates before you sign the contract. If they do not, or the information is inaccurate or incomplete on a material issue, you may be able to end the contract at any time up to settlement.[6] Take a copy of the contract to your solicitor before you sign, and do not be pressured into signing without legal advice. The contract becomes binding only once both you and the seller have signed it.[5]
Step 8: pay the deposit and insure the home
Pay the deposit as the contract sets out, which is normally within 2 to 3 days of the contract becoming binding.[5] In most cases you become responsible for the property from 5pm on the next business day after the contract date, before settlement, so arrange building insurance from then. Your lender can insist on it.[7]
Step 9: use the cooling-off period
A contract for residential property has a cooling-off period of 5 business days. It starts on the day you receive the contract signed by both parties and ends at 5pm on the fifth business day, and you can end the contract in that time for any reason, at a cost of up to 0.25% of the price.[8] It does not apply to auction contracts. Our guide to the cooling-off period in QLD covers the day count, waivers and the exceptions.
Step 10: satisfy the conditions
If your contract has finance and building and pest conditions, each has a date by which you must act. Send your lender the contract and book the inspection on the day you sign. Our guide to building and pest inspections in Queensland explains what the report covers and what to do if it finds problems.
Once every condition is satisfied or waived, the contract is unconditional, and from then on you are committed to settle. Ask your solicitor to confirm in writing when that happens, and put each contract date in your calendar so none slips past.
Step 11: transfer duty and getting ready
Transfer duty applies when you sign a contract to buy a house. If a solicitor lodges for you as a self assessor, they lodge within 30 days of the liability date, which is usually the contract date, not settlement, and the duty must be paid within 14 days after that. If you lodge yourself, you lodge within 30 days and the Queensland Revenue Office sends an assessment notice.[9] Budget for the duty from the day you sign.
In the weeks before settlement, your lender finalises the loan and your solicitor prepares the settlement figures. Ask your solicitor whether your contract allows a pre-settlement inspection, book it, and arrange the electricity, internet and removalists.
On settlement day you will usually pay the rest of the price, receive the title, get the keys and take possession. Settlement is usually 4–6 weeks after the contract is finalised, and almost all settlements are completed within 30 to 90 days. The seller pays council rates up to and including settlement day, and you pay from the next day.[1]
Then come a few owner’s checks. If an older home has no safety switch, you must install one for the power point circuits within 3 months of the transfer. Queensland’s interconnected photoelectric smoke alarm requirements have applied to homes sold or leased since 1 January 2022, and apply to all homes from 1 January 2027. And check that your details are correct with Titles Queensland, through your solicitor or a title search.[10]
IPS works only for buyers, never sellers. We search for the right home, including off-market property, attend inspections, negotiate the price and terms or bid for you at auction, and work with your broker, building and pest inspector and solicitor through to settlement. You can read how that works on our buyer’s agent services page.
In terms of the 12 steps, we take on most of steps 4 to 6 and keep steps 7 to 12 on time: the checks are lined up before you commit, the conditions and dates are tracked, and nothing is missed between contract and keys. We do not replace your solicitor or your lender; we make sure each of them has what they need when they need it.
Budget and pre-approval, then your team, the search and the checks. Then the offer or auction, the seller disclosure and contract, the deposit and insurance, and the cooling-off period. Then the conditions, transfer duty, and settlement, usually 4–6 weeks after you sign.[1] Most problems in a Queensland purchase come from a step done late, so do each one before you need it.
This article is general information only, current at October 2026. It is not legal, financial or tax advice and does not consider your circumstances. Check the steps and dates for your purchase with your solicitor or conveyancer and your lender before you act.
If you would like help with the search, the negotiation and the steps through to settlement, book a time with Tim Allen.
- Queensland Government — Settlement day
- Moneysmart — Buying a house (updated 14 October 2026)
- Queensland Government — Before you start looking
- Queensland Government — Buying property at auction
- Queensland Government — Contract of sale for buying a home (updated 23 July 2025)
- Queensland Government — Seller disclosure scheme
- Queensland Government — Home and contents insurance
- Queensland Legislation — Property Occupations Act 2014, part 7 (reprint current from 1 August 2025)
- Queensland Revenue Office — Transfer duty
- Queensland Government — Early responsibilities (updated 12 August 2024)
How long does it take to buy a house in Queensland?
The search can take weeks or months, depending on your budget and the market. Once you sign a contract, the Queensland Government says settlement is usually four to six weeks later, and almost all settlements are completed within 30 to 90 days. You can negotiate the settlement date with the seller, so allow for a longer one if you need to sell first or wait for finance.
Do I need a solicitor to buy a house in QLD?
The Queensland Government says you should strongly consider hiring a solicitor when you buy a home. A solicitor or conveyancer reads the contract and the seller disclosure documents before you sign, tracks the condition dates, handles transfer duty and settles the purchase with your lender. Line one up before you make an offer so a contract can be reviewed the day you receive it.
When do I pay stamp duty when buying a house in Queensland?
Transfer duty, often called stamp duty, applies when you sign the contract. If your solicitor lodges for you as a self assessor, they lodge within 30 days of the liability date, which is usually the contract date, and the duty is paid within 14 days after that. If you lodge yourself, the Queensland Revenue Office sends an assessment notice telling you what to pay and when.
When does a house contract become binding in Queensland?
A contract becomes binding once both you and the seller have signed it. For a private sale you then have a cooling-off period of five business days, and any finance or building and pest conditions run to the dates in the contract. An auction contract is binding on the fall of the hammer, with no cooling-off period and usually no conditions.
Should I get pre-approval before looking at houses?
Yes, in most cases. Pre-approval is a lender’s indication of how much you may be able to borrow. Moneysmart says it usually lasts three to six months and helps you set a price range and show sellers you are serious. It is not final: the lender still assesses you and the property before it approves the loan, so keep your finances steady while you search.
What happens on settlement day in Queensland?
On settlement day your solicitor and lender pay the rest of the purchase price to the seller, the title is transferred to you, and you get the keys and take possession. The seller pays council rates up to and including settlement day, and you pay from the next day. Afterwards, check your title details and the home’s safety switches and smoke alarms.