Found 53 relevant pages. The strongest matches explain what “smoke alarms compliance” means, where the buyer risk sits, and how the clause plays out in real contracts.

Frequent Risk Signals

• Unexpected Costs: As a buyer, if the property's smoke alarms don't meet Queensland's stringent 2022 standards for interconnected photoelectric alarms, you become responsible for upgrading them after settlement. This can easily cost $800 - $2,500+ per property, depending on its size and existing wiring infrastructure.
• Insurance Voidance: Failure to ensure smoke alarm compliance could potentially void your building insurance policy in the event of a fire, leaving you financially exposed to the full cost of repairs or even total loss. This is a significant buyer's risk.
• Legal Liability: As the new owner, you are legally responsible for ensuring compliance. If a fire occurs and the alarms are non-compliant, you could face fines from authorities or even civil liability for any harm caused, especially if you rent out the property.
• Rental Penalties: For investors, renting out a property with non-compliant smoke alarms can lead to significant penalties from the Residential Tenancies Authority (RTA), impacting your rental income and reputation as a landlord.
• Resale Difficulties: When you eventually sell, future buyers will conduct their own due diligence. A property with non-compliant smoke alarms could become a point of negotiation for a reduced price or even deter potential purchasers, affecting your property's value.
• REIQ Contract Ambiguity: The standard REIQ contract doesn't always explicitly guarantee the latest smoke alarm compliance at settlement. Without a specific special condition, the onus often falls on the buyer to identify and rectify non-compliance post-settlement.