← All Articles Sellers · 7 min read

The Queensland Conveyancing Process: What Happens from Contract to Settlement

From signed contract to keys handed over, the Queensland conveyancing process has several distinct phases. Here is what your solicitor is doing, what you need to do, and what to watch for.

For most vendors, the period between signing the contract and settlement day feels like a black box. Your solicitor is doing things, your agent checks in periodically, and then one day you hand over the keys and the money arrives. Understanding what is actually happening during this time helps you anticipate what is coming, respond quickly when your solicitor needs something from you, and avoid the mistakes that slow settlements down or create last-minute complications.

What conveyancing actually is

Conveyancing is the legal process of transferring ownership of real property from one person to another. In Queensland, both the buyer and the seller engage their own solicitor or licensed conveyancer. The two solicitors correspond with each other, manage the documentation, and coordinate the transfer of title and money on settlement day. The seller's solicitor acts for you; the buyer's solicitor acts for the buyer. They are not neutral parties working together on a shared outcome, they are advocates for their respective clients working through a structured legal process.

The week contracts are signed

Once the contract is signed by both parties and the buyer's deposit has been paid to the agent's trust account, several things happen quickly. Your agent sends a copy of the signed contract to your solicitor. Your solicitor sends formal requisitions on title to the buyer's solicitor, which are a set of standard legal questions about the property and your capacity to sell it. The buyer's solicitor reviews the contract terms and advises their client on the conditions that need to be satisfied before the contract becomes unconditional.

This is also the point at which your solicitor will ask you for a range of documents and information: your mortgage details (so discharge can be arranged), confirmation of your identification, details of any encumbrances or easements on the property, and any other documentation relevant to the title. The sooner you respond to these requests, the smoother the process will run.

The conditional period

Most residential contracts in Queensland are conditional for a period of weeks after exchange. The buyer typically has conditions for finance approval and a building and pest inspection, and sometimes others such as a body corporate records search (for units) or a special condition specific to the property. During this period, the buyer is working to satisfy their conditions.

As the seller, your role during the conditional period is primarily to wait and to maintain the property in the same condition it was in at the time of the contract. You cannot sell to anyone else (the contract is binding on you immediately), you must allow reasonable access for the building and pest inspector, and you must not remove or damage any inclusions that are part of the contract. If a buyer asks to visit with their architect or builder during this period, your agent will coordinate access, but you are not obliged to allow anything beyond what the contract specifies.

If the buyer cannot satisfy their conditions, they can terminate the contract and have their deposit returned. This is one of the reasons sellers feel anxious during the conditional period. In practice, for most well-priced properties in Brisbane's inner east, buyers who have moved through the open home process and made an offer are serious and motivated. The majority of conditional periods resolve in the buyer satisfying their conditions and going unconditional.

Going unconditional

When the buyer has satisfied all their conditions (or waived any they are willing to waive), the contract becomes unconditional. Both solicitors confirm this in writing to each other and to their respective clients. From this point, both parties are fully committed to the contract. The buyer cannot terminate without forfeiting their deposit (and potentially facing further liability), and you cannot accept another offer or refuse to complete the sale.

Going unconditional is the moment most vendors have been waiting for. It means the sale is effectively done, subject to settlement completing as planned. Your solicitor will then shift focus to preparing for settlement.

The pre-settlement period

In the weeks between going unconditional and settlement day, your solicitor is doing the following:

• Conducting a title search to confirm you have clear title to transfer to the buyer.
• Obtaining a rates clearance certificate from the local council, confirming that all council rates have been paid to the date of settlement or that an adjustment will be made.
• Obtaining a water clearance certificate from the water authority.
• Applying for a land tax clearance certificate from the Queensland Revenue Office, confirming that no land tax is outstanding on the property.
• Arranging for the discharge of your mortgage with your lender, so that the title can be transferred to the buyer free of encumbrances. This is a critical step and can take longer than expected if your lender is slow. Your solicitor should initiate the discharge process well before the settlement date.
• Preparing the settlement statement in conjunction with the buyer's solicitor. The settlement statement sets out exactly what money changes hands on settlement day, including the purchase price, less the deposit already paid, adjusted for rates, water, and any other outgoings paid in advance or in arrears.

The pre-settlement inspection

The buyer is entitled to a pre-settlement inspection of the property, typically conducted 1 to 3 days before settlement. The purpose is to confirm that the property is in the same condition as it was at the time of contract, that all agreed inclusions are present, and that no damage has occurred. Your obligations here are clear: do not remove fixtures or fittings that are included in the contract, ensure any items that were agreed to be repaired have been attended to, and leave the property in reasonable condition.

If the buyer identifies an issue at the pre-settlement inspection that was not present at the time of contract, they are entitled to raise it before settlement. This is usually resolved by negotiation through the solicitors, either by completing the repair before settlement or by agreeing on a financial adjustment. Disputes over the condition of the property at the pre-settlement inspection are a common source of last-minute complications. The best way to avoid them is to maintain the property carefully throughout the contract period and to leave it as you would want to find it.

Settlement day

In Queensland, most residential settlements now occur electronically through the PEXA platform rather than with physical bank cheques at the titles office. Both solicitors log into PEXA, the funds are transferred electronically, and the title is transferred to the buyer's name, all in a matter of minutes on the agreed settlement date and time.

On settlement day:

• Your mortgage is discharged from the settlement funds and the lender releases the title.
• The net proceeds (purchase price minus deposit, mortgage discharge, adjustments, and your solicitor's fees) are transferred to your nominated account.
• The agent is authorised to release the deposit from trust to you (or your nominated account) once settlement is confirmed.
• The agent's commission is paid from the settlement proceeds, either directly or via the trust account, in accordance with your agency agreement.
• The keys are released to the buyer by your agent.

Your solicitor will confirm settlement has occurred and provide you with a final settlement statement. You should receive the proceeds in your account the same day, though timing depends on your bank's processing speed.

After settlement

Once settlement is complete, the property is no longer yours. Your obligations under the contract are fulfilled. Your solicitor will provide a final accounting of all funds, showing the purchase price received, all deductions, and the net amount paid to you. If you had a mortgage, your solicitor will confirm that it has been discharged and that the lender has no further claim over the property.

On the tax side, you or your accountant will need to consider capital gains tax if the property was not your main residence, or if it was a main residence but with a period of investment use. Your solicitor cannot advise on tax; that is a conversation for your accountant.