Found 103 relevant pages. The strongest matches explain what “due diligence clause queensland” means, where the buyer risk sits, and how the clause plays out in real contracts.

Frequent Risk Signals

• Not a standard inclusion: Unlike the standard finance or building and pest conditions in an REIQ contract, a Due Diligence Clause is not included by default; if you do not explicitly instruct your solicitor to draft and insert it as a special condition before signing, you have no legal right to terminate for underlying council or zoning issues.
• Strict timeframes: Under Queensland property law, time is strictly "of the essence," meaning if your due diligence period expires at 5:00 PM on the 14th day and you have not formally notified the seller's solicitors of your termination, you lose your right to exit and must proceed with the purchase.
• Vague wording risks: If the clause is poorly drafted by a real estate agent rather than a lawyer (e.g., simply stating "subject to due diligence" without defining the termination rights), the seller may dispute your right to crash the contract, potentially exposing you to legal action.
• Financial costs of investigation: The buyer's risk includes footing the bill for all council searches, town planning advice, and land surveys; if you terminate the Queensland property contract, you will not recover these out-of-pocket expenses, which can easily exceed $1,500 to $3,000.
• Subjective vs. objective satisfaction: A robust clause must state that the outcome of the enquiries is at the "buyer's absolute discretion," otherwise, a seller might argue your reason for termination is unreasonable, forcing you into a costly legal dispute to recover your deposit.
• Deposit forfeiture: If you discover a major issue but fail to terminate correctly within the due diligence timeframe, you risk forfeiting your entire deposit (often up to 10% of the purchase price) and being sued for the seller's ongoing financial losses if you refuse to settle.