Buying Off the Plan in Queensland: The Process and What to Check Before You Sign

A clear guide to the process, the documents that matter and the questions worth asking.

Education Series | SIERA Thought Leadership. By Brent Thompson, Founder and Managing Director, SIERA

Buying off the plan means signing a contract before construction is complete and, usually, before the individual title to the residence exists. You cannot walk through the finished home, so you are relying on the contract, the disclosure documents, your professional advisers, and the people responsible for delivery.

That does involve risk. Good due diligence does not make the risk disappear, but it helps you understand what you are committing to, what may change, and what should happen between signing and settlement.

This guide sets out that sequence in the order it actually happens. It is written to help you ask useful questions, not to make you wary of every possible issue.

I have said before, "Ultimately, people you don't know are putting faith in you that you're going to build them their home." A developer should respect that faith by being clear. A buyer should protect it by getting independent advice and testing every material statement against the contract.

Scope and important note: This guide focuses on proposed residences in a Queensland community titles scheme, which is how most off-the-plan residential towers are sold. Proposed vacant land is governed by a different legal regime. This is general information, not legal, financial, or tax advice. Obtain advice about your own contract and circumstances before signing or paying money.

Where to Spend Your Attention

Not everything in an off-the-plan purchase carries the same weight. Some of it is routine, some of it deserves a careful read, and a small number of things need action within days. I have sorted this guide that way, so you know what deserves most of your time.

Routine. The normal sequence, from choosing a residence through construction, inspection and settlement. Read it once so nothing surprises you later.

Worth checking carefully. The contract, the disclosure documents, the costs, your finance, and the delivery record of the developer and the builder. This is the work your solicitor should do for you before you sign.

Act promptly. A further disclosure statement or variation notice, a change to something that matters to you, an approaching deadline, or any doubt about your ability to settle. Send it to your solicitor the day it arrives.

Before You Commit

Most of the work that protects you happens before you sign, and none of it requires you to become a property lawyer or a construction expert.

• Appoint your own Queensland property solicitor before you sign or pay an expression-of-interest amount.

• Check the developer's record on projects of a similar type and scale, and separately check the builder and its current QBCC licence.

• Ask how construction will be funded, whether finance is formally committed or still conditional, and who the construction financier is (where that can be disclosed).

• Read the contract, the proposed-lot disclosure, the plans, the inclusions, the proposed community management statement and the estimated body corporate contributions.

• Ask your solicitor to explain the clauses covering variations, sunset dates, delay, default, finance, assignment, settlement, inspection and defects.

• Confirm where any expression-of-interest amount and deposit will be held, and when that money can be released.

• Make sure your budget carries duty, professional fees, finance costs, moving costs and ongoing body corporate contributions as well as the price, and keep your finance position under review, because lending policy and valuations can move before settlement.

The People Responsible for Delivery

When you buy an established home, you can inspect what already exists. Off the plan, much of your decision rests on documents and on the capability of the people who must deliver them. That makes the work you do before signing especially important.

Look for completed projects of a similar type and scale. Visit them if you can. Consider how they have aged, and speak with owners about whether the finished home and the buying experience matched what they were told. A long track record in a different kind of project is useful context, but it is not the same as experience delivering the building you are considering.

Check the builder's current QBCC licence, licence class, and public history. The developer and builder may be related or completely separate, so understand who is carrying the construction responsibility. An ASIC search can confirm that a company is registered, but registration alone does not prove financial capacity or delivery certainty. Check the relevant planning approval as well, and ask which important delivery milestones can be independently confirmed.

Why the Project Financier Matters

The developer and builder are not the only parties that matter. Construction finance is another part of the delivery picture. A lender providing development finance will ordinarily assess matters such as the developer, builder, project costs and valuation, approvals, developer equity, and the quality of the pre-sales before making finance available. The detail varies between lenders and projects.

A formally committed facility with an experienced property financier is meaningful evidence that the project has been independently tested. It is not a guarantee of completion. Facilities have conditions, and funds are generally released progressively as those conditions and construction requirements are met.

Ask who the construction financier is (where that can be disclosed), whether the facility is formally committed or still being arranged, what material conditions remain before the first drawdown, and whether funding has commenced. Some commercial terms will be confidential, but the developer should be able to explain the finance status clearly.

At SIERA, we treat the financier as part of the delivery team. Project finance is sourced through major Australian banks like ANZ, Westpac and the Commonwealth Bank. We share that milestone because it matters, while being clear that a lender's involvement does not remove project risk.

The Usual Buying Journey

Every project and contract is different, but the sequence for a proposed residence in a community titles scheme will usually look like this.

1. Define the home and the total commitment. Be clear about the residence, carpark, storage, inclusions, budget, and timing that work for you. Allow for transfer duty, legal and finance costs, registration fees, moving costs, and ongoing body corporate contributions, not only the contract price.

2. Research the developer, builder, and project. Check comparable delivery experience, the builder's QBCC record, the planning approval, and the people who will remain responsible through construction and settlement.

3. Read any expression-of-interest document before paying. An expression of interest is not used on every project, and its effect depends on its terms. Confirm whether it reserves a residence, whether the amount is refundable, what happens if no contract is signed, and which trust stakeholder will hold the money.

4. Appoint your own solicitor before signing. The seller's solicitor acts for the seller. Your solicitor should review the complete contract, special conditions, disclosure material, title and scheme documents, key dates, and your proposed finance position. Once both parties sign, the contract is binding, subject to the rights that apply.

5. Review the correct proposed-lot disclosure. For a proposed residence in a community titles scheme, the seller must provide a substantially complete proposed-lot disclosure statement and the required supporting material before contract. This is not the same as the Form 2 and Form 33 disclosure process used for an existing body corporate property.

6. Sign only when you understand the documents. A typical Queensland residential contract has a five-business-day cooling-off period. It generally begins when you receive the contract signed by both parties and ends at 5pm on the fifth business day. It can be waived or shortened, exceptions apply, and a valid cooling-off termination can allow the seller to retain up to 0.25 per cent of the price. Treat cooling-off as a final statutory protection, not a substitute for advice before signing.

7. Pay the deposit in the way the contract requires. Money paid before settlement for a proposed community-title lot, including an expression-of-interest amount, must be directed to a prescribed trust account. Depending on the transaction, that may be held by a law practice, property agent, or the Public Trustee. Confirm the stakeholder, the amount, the due date, and the release conditions with your solicitor.

8. Follow construction and act on new documents. Useful project updates help you understand progress, but they do not replace the contract. If disclosed information becomes inaccurate, the seller may need to issue a further statement at least 21 days before settlement. A buyer who would be materially prejudiced may have rights, but the test and response periods are specific. Send every notice to your solicitor promptly.

9. Refresh finance and prepare for settlement. An early pre-approval is not unconditional settlement finance. The lender may assess serviceability and value the finished residence closer to completion. Once the scheme is established, the seller gives notice and the contract sets the settlement timetable. For a proposed community-title lot, settlement cannot occur earlier than 14 days after the seller advises that the scheme has been established or changed.

10. Inspect, document, and settle. Arrange the inspection access provided by your contract. Compare the completed residence with the contractual plans, inclusions, and finishes, and record concerns in writing. Inspection rights, settlement consequences, and defect processes depend on the contract, the building, and the law that applies. Do not assume there is one standard defects window or that Queensland Home Warranty covers every building.

The Contract Terms Worth Understanding

You do not need to memorise the legal detail. You do need your solicitor to explain what each important clause means for your purchase. The most useful questions are the ones that point you to a document, a responsible person, or a date.

Independent Legal and Financial Advice

Use advisers who act for you and understand Queensland off-the-plan contracts. Ask your solicitor to explain the clauses that matter in plain language, including what happens if a date is missed, finance is unavailable, a plan changes, or you cannot settle. Ask your lender or broker what must be refreshed closer to completion.

Plans, Inclusions and Representations

The artist's impressions and display material help explain the design intent. The contract, disclosure plan, proposed community management statement, specifications, and inclusions describe the legal commitment. If a view, finish, appliance, carpark, storage area, or other feature is important to your decision, ask your solicitor whether it is properly reflected in the contractual documents.

For a proposed community-title lot, the disclosure material should identify the proposed lot and settlement deadline and include information about the expected annual body corporate contributions, proposed management and service arrangements, the proposed community management statement, and any proposed building management statement. Read the detail, not only the summary page.

Variations

Variation rights are contract-specific. Do not assume there is a universal 5 per cent tolerance or that any change allows termination. Ask what can change, what notice is required, what test applies if the change affects you, and how quickly you must respond.

Cooling Off, Sunset Dates and Project Conditions

These provisions do different jobs. Cooling-off is a statutory buyer protection. A sunset date is the outside date by which the purchase has to reach settlement. If that date passes and settlement has not happened, the contract sets out who can bring it to an end and what happens to your deposit. It is not a promise about when your home will be finished, and it is not the same thing as cooling off. A separate finance, pre-sales, or sunrise condition may make the contract conditional on stated project milestones.

Those conditions are contractual, not universal. Project finance may influence a project's commercial timetable, but it does not change the legal effect of the cooling-off period or the sunset provision. Ask your solicitor which clauses apply, who can rely on them, the dates involved, and what happens to the deposit.

The sunset date itself is also contract-specific. For a proposed community-title lot, the buyer's statutory long-stop right is generally tied to the earlier of the contractual sunset date and 5.5 years. If the contract has no sunset date, the statutory period is generally 3.5 years. Agreed later dates and other qualifications can apply, and the seller's rights require separate advice. The 18-month Land Sales Act rule for proposed land should not be presented as the rule for a proposed residence in a community titles scheme.

Body Corporate Costs and Long-Term Arrangements

Review the expected administrative and sinking fund contributions, lot entitlements, proposed by-laws, management rights, service contracts, and any building management statement. An estimate is not a promise that contributions will never change. Running costs can rise, and a body corporate can raise a special contribution for unexpected expenditure. Understand what the building is expected to operate and who will pay for it.

If you are moving from a house, our guide for retirees and downsizers explains how to compare ongoing apartment costs with maintaining your current home.

Finance, Valuation and the Cost of Waiting

A long period can pass between contract and settlement. Your income, expenses, lending policy, interest rates, and the lender's valuation can change in that time. Confirm whether the contract is subject to finance, when that condition ends, and what happens if settlement finance is later unavailable. Keep a buffer and review your position before completion rather than waiting for the settlement notice.

If you are still deciding when to purchase, read our guide to buying off the plan now or waiting for the market.

Assignment, Inspection and Defects

Do not assume you can assign or nominate the contract if your circumstances change. The contract may prohibit it, require consent, or create tax and duty consequences. Likewise, inspection access and defect remedies are not identical across projects. Ask your solicitor what the contract provides and whether any statutory insurance applies. Buildings with more than three storeys above a carpark are outside the Queensland Home Warranty Scheme.

When to Act Promptly

Most of what arrives during construction is progress information. A short list of documents is different, because a legal right or a deadline is attached to it. Send any of these to your solicitor the day you receive it.

• a further disclosure statement or a variation notice

• a change to something that mattered to your decision, such as a plan, an inclusion, a carpark or a storage area

• a request to waive or shorten a right or a deadline

• a settlement notice, or an issue found at your pre-settlement inspection

• any doubt that your finance will be available at settlement

Do not try to work out the legal effect yourself. If disclosed information becomes inaccurate, the seller may need to give a further statement at least 21 days before settlement, and a buyer who would be materially prejudiced may have rights. The tests and the response periods are specific, and some of them are short.

How SIERA Communicates During the Journey

Our role is to make the sequence understandable and to keep communication open. It is not to replace the buyer's solicitor, lender, accountant, or adviser.

The conversation begins with what the buyer is looking for in a home. Where a project uses an expression of interest, its terms are recorded before money is paid. The contract is then issued so the buyer and their independent solicitor can review it. The exact steps, amounts, and timing depend on the project and the contract.

Once construction is under way, buyers receive a useful construction update each month. We explain what has happened on site, what the milestone means in plain language, and what comes next. We issue separate communications when something important happens, and publish project progress on our website and social channels. Where a milestone is better experienced in person, we invite buyers to a planned project event.

You can see examples of these updates on our Tapestry project page, under Construction Updates.

We name the people doing the work and ask them to explain it in their own words. Buyers can come to the SIERA office or Sales Gallery for a look or a chat and are welcome to bring family or a friend. Where the construction programme and site-safety requirements allow, we arrange opportunities to meet the construction team or visit an approved part of the project. An active construction site is never an unplanned drop-in.

We are one team working towards the same outcome. Our sales, development, construction, settlement, caretaking and property management teams work together, so there is always someone you can speak to, someone who can answer the question or find the answer and get back to you, and a team responsible for making sure you are looked after. Property management is available where an owner appoints SIERA. That is what Built, Sold and Managed by SIERA means.

Questions are acknowledged quickly and answered by the person who knows the detail. If something needs to be checked with construction, caretaking, property management, the financier, or an external adviser, we bring the right person into the conversation rather than guess. The buyer should know what is confirmed, what is still being checked, and when they will hear back.

From there, the focus is on clear construction information, project milestones, and preparation for settlement. Good communication cannot remove every risk or change a legal right, but it can make it easier for a buyer to understand what is happening and ask questions early.

A Buyer's Checklist

• My own Queensland property solicitor has reviewed the complete contract before I sign.

• I have checked the developer's comparable delivery record and the builder's QBCC licence and history.

• I have asked how construction will be funded, whether finance is formally committed or remains conditional, and who the project financier is (where that can be disclosed).

• I know how often the developer will communicate, which milestones will be shared, and who I can contact when I have a question.

• I understand the proposed-lot disclosure, plan, community management statement, inclusions, and body corporate estimate.

• Important marketing representations are properly reflected in the contract documents.

• I understand the clauses for variations, sunset dates, delay, default, finance, assignment, settlement, inspection, and defects.

• I know who will hold the expression-of-interest amount and deposit, and on what terms.

• I have allowed for duty, professional fees, finance costs, moving costs, and ongoing body corporate contributions.

• I have a plan to refresh finance and valuation before settlement.

• I will send every further disclosure, variation, and settlement notice to my solicitor promptly.

Common Questions

Do I need my own solicitor?

Yes. Use an independent Queensland property solicitor who acts for you and is familiar with off-the-plan contracts. Ask for advice before signing or paying money, not only during cooling-off.

How long does an off-the-plan purchase take?

There is no standard two-year period. Timing depends on approvals, finance, construction, registration, and the contract. Read the sunset date, estimated programme, settlement clauses, and any rights connected with delay.

Is there a cooling-off period?

A typical Queensland residential contract has a five-business-day cooling-off period ending at 5pm on the fifth business day after it starts. It can be waived or shortened, and exceptions apply. A valid cooling-off termination can allow the seller to retain up to 0.25 per cent of the purchase price. Your solicitor should confirm how it applies to your contract.

Where is my deposit held?

Money paid before settlement for a proposed community-title lot must be held through a prescribed trust stakeholder until a party becomes legally entitled to it. That may be a law practice, property agent, or the Public Trustee. Check the named stakeholder and release terms in your documents.

What if the final residence or scheme is different from the disclosure?

Not every change creates a right to terminate. The seller may need to give a further statement, and a material difference that prejudices the buyer may create rights under the contract or the BCCM Act. The tests and time limits matter, so send the notice to your solicitor immediately.

What does the sunset date mean?

It is the outside date by which the purchase has to reach settlement. For a proposed community-title lot, the buyer's statutory long-stop right is generally linked to the earlier of the contractual date and 5.5 years, or 3.5 years where there is no sunset date. Your solicitor should explain both the contract and the statutory position.

What should I do about finance before settlement?

Stay in contact with your lender or broker and review serviceability, valuation, cash requirements, and timing before completion. An early pre-approval is not a promise of unconditional finance years later. Understand what your contract says if finance is unavailable at settlement.

Why does the project financier matter?

Construction finance is one part of delivery capability. Ask whether it is formally committed, what material conditions remain, who the financier is (where that can be disclosed), and whether funding has commenced. An experienced financier will ordinarily undertake its own assessment and monitor the facility as construction progresses, but its involvement is not a guarantee and does not replace due diligence on the developer, builder, contract, or your own finance.

What communication should I expect during construction?

Ask for the developer's actual communication rhythm before you sign. At SIERA, buyers receive monthly construction updates and separate milestone communications, with project progress also shared online. Buyers can contact the sales team, visit the Sales Gallery, and, where the programme and site-safety controls allow, meet members of the project team. As settlement approaches, the responsible settlement, caretaking, and property management contacts are introduced where those services apply.

A Final Point

Buying off the plan is a long contractual commitment to a future home. The sound approach is steady: understand who is responsible, make sure the documents carry the matters important to you, obtain your own advice, keep every notice, and ask questions early. A transparent developer should welcome that level of scrutiny.

Primary Sources Checked

Queensland Government, Buying off the plan: qld.gov.au

Body Corporate and Community Management Act 1997, including ss 24, 212, 212A to 218C: legislation.qld.gov.au

Property Occupations Act 2014, including ss 159, 160, and 166 to 168: legislation.qld.gov.au

Property Law Act 2023, including ss 85 and 95: legislation.qld.gov.au

Queensland Building and Construction Commission, licence register and Queensland Home Warranty guidance: qbcc.qld.gov.au

Australian Prudential Regulation Authority, APG 112 Capital Adequacy: Standardised Approach to Credit Risk, including guidance on land acquisition, development, construction, and qualifying pre-sales: apra.gov.au

SIERA project pages, construction update archive, buyer communications, and verified project-finance records, checked 12 August 2026: sieragroup.com.au

Brent Thompson

Founder and Managing Director, SIERA

sieragroup.com.au

This article is part of SIERA's Education Series. Written by Brent Thompson, Founder and Managing Director of SIERA. It is general information only and does not take account of your circumstances. Obtain advice from your own Queensland property solicitor and financial adviser about your contract and your situation before signing or paying money.