Buying property is one of the biggest financial decisions most Australians will ever make — yet many buyers still sign contracts based on nothing more than reassurance from the selling agent. It’s one of the most common mistakes in Queensland property transactions, and one of the most expensive.
The reality is that a selling agent works for the seller, not for you. Their job is to facilitate the sale — not to identify the hidden risks in a finance clause, flag an unfavourable special condition, or explain what happens if your cooling-off rights have been waived. Waivers of the cooling-off period are common in competitive markets, but should never be rushed — and buyers may inadvertently waive their cooling-off rights without even realising it, simply by signing a contract prepared before auction or a cooling-off waiver form attached to the contract. Once those rights are gone, so is your safety net.
That’s exactly why an independent contract review — before you sign — is one of the most valuable steps any buyer can take. For first-home buyers especially, understanding what you’re committing to before you’re legally bound to it can be the difference between a smooth settlement and a costly dispute.
In this episode of the Big Law Podcast, Director Sylvia Lopez unpacks the legal realities behind what selling agents can and can’t tell buyers, the limits of cooling-off periods, the hidden risks in finance clauses, and the simple step that could save you thousands before you put pen to paper.
