What's the purchase process to buy a property in Brisbane?

Authored by the expert who managed and guided the team behind the Australia Property Pack

Yes, the analysis of Brisbane's property market is included in our pack

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Brisbane. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At BambooRoutes, we explore the Australian real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Brisbane, Sydney, and Melbourne. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

How do I check if I'm eligible to buy property in Brisbane as a local or foreign buyer?

Australian citizens, permanent residents, and New Zealand citizens can purchase any property in Brisbane without restrictions.

These buyers can freely purchase established homes, new properties, vacant land, or investment properties without seeking government approval. You only need standard identification documents and proof of funds to proceed with your purchase.

Foreign buyers (non-residents and temporary visa holders) must obtain Foreign Investment Review Board (FIRB) approval before purchasing most Brisbane properties. FIRB typically permits foreign buyers to purchase new dwellings, off-the-plan properties, or vacant land for development, but restricts purchases of established homes unless specific exemptions apply.

The FIRB application process costs AUD 2,200 for properties under AUD 1 million and takes 30-45 days for approval. Foreign buyers married to Australian citizens or permanent residents may be exempt from FIRB requirements if purchasing as joint owners.

It's something we develop in our Australia property pack.

What's the first step to work out my borrowing capacity and get a mortgage pre-approval?

Start by using online borrowing capacity calculators from major Australian banks to estimate your maximum loan amount.

These calculators assess your income, existing debts, living expenses, deposit size, and credit history to provide an initial borrowing estimate. Most major banks like Commonwealth Bank, Westpac, ANZ, and NAB offer these tools free on their websites.

For formal pre-approval, engage a mortgage broker or contact lenders directly with your financial documentation. You'll need to provide payslips, tax returns, bank statements, identification, and details of assets and liabilities. The lender conducts a credit check and assesses your serviceability under current interest rates.

Pre-approval typically lasts 3-6 months and gives you a conditional loan commitment up to a specified amount. This strengthens your negotiating position with sellers and allows confident property hunting within your confirmed budget.

Foreign buyers should secure pre-approval before FIRB application to demonstrate financial capacity and streamline the purchase process.

How do I research Brisbane suburbs to decide where I should buy?

Use property data websites like Domain, realestate.com.au, and CoreLogic to analyze median prices, recent sales, rental yields, and price growth trends across Brisbane suburbs.

Research Factor	Key Metrics to Analyze	Data Sources
Price Trends	Median house/unit prices, 12-month growth rates	Domain, CoreLogic, REIQ reports
Rental Returns	Gross rental yields, vacancy rates, rental growth	SQM Research, realestate.com.au
Infrastructure	Transport links, schools, shopping centers, hospitals	Brisbane City Council, QLD Government
Demographics	Population growth, age profiles, income levels	Australian Bureau of Statistics
Future Development	Planned infrastructure, zoning changes, new projects	Brisbane City Council, State planning documents
Lifestyle Factors	Crime rates, amenities, commute times, community facilities	Queensland Police, council websites
Market Dynamics	Days on market, stock levels, auction clearance rates	REIQ, local agent reports

What's the process for finding properties, attending inspections, and making an offer?

Register on major property websites and set up automated alerts matching your criteria for price, location, property type, and features.

Attend open homes during scheduled times (usually weekends) or arrange private inspections through the listing agent. Take notes on property condition, potential issues, neighborhood characteristics, and comparable recent sales in the area.

For serious interest, conduct preliminary due diligence including price comparisons, rental potential analysis, and consideration of renovation or maintenance needs. Engage your solicitor or conveyancer before making formal offers to ensure contract terms protect your interests.

Submit written offers through the listing agent, specifying purchase price, settlement terms, deposit amount, and any special conditions. In competitive markets, you may need to provide pre-approval evidence and quick decision-making capability.

Successful offers lead to contract preparation by the seller's agent, followed by contract exchange once both parties agree to all terms and conditions.

How do I hire a solicitor or conveyancer in Queensland and what role do they play?

Engage a Queensland-licensed solicitor or conveyancer before signing any property contracts to protect your legal interests.

Solicitors handle complex transactions, provide comprehensive legal advice, and can appear in court if disputes arise. Conveyancers specialize specifically in property transfers and typically charge lower fees than solicitors for straightforward purchases.

Your legal representative reviews contracts, negotiates terms, arranges property searches, manages settlement procedures, and ensures clear title transfer. They coordinate with the seller's legal representative, your lender, and relevant government authorities throughout the process.

Choose licensed professionals with Queensland property law experience, strong references, and clear fee structures. Expect to pay AUD 1,200-2,500 for conveyancing services, with solicitors generally charging at the higher end of this range.

Your legal representative also handles stamp duty calculations, coordinates building and pest inspection requirements, and manages the final settlement meeting where ownership transfers occur.

What's the sequence of steps once my offer is accepted, from contract signing to settlement?

Contract signing initiates a 5-business-day cooling-off period in Queensland, during which you can withdraw from the purchase (typically with a 0.25% penalty of the purchase price).

During the cooling-off period and condition fulfillment phase, arrange building and pest inspections, finalize mortgage approval, pay the deposit (usually 10% of purchase price), and organize property insurance effective from contract date.

Your solicitor coordinates property searches including title searches, council searches, and any relevant environmental or flooding reports. These searches reveal encumbrances, unpaid rates, approved building works, and zoning restrictions that could affect the property's value or use.

Once all contract conditions are satisfied (typically within 14-21 days), the sale becomes unconditional. The settlement date, usually 30-45 days after contract signing, is when final payment occurs and legal ownership transfers.

Final settlement involves your solicitor coordinating with your lender for fund release, completing final property searches to ensure no new encumbrances, and attending settlement where ownership documents are exchanged and registered with the Queensland Land Registry.

How do building and pest inspections work in Brisbane and when should I arrange them?

Arrange building and pest inspections immediately after contract signing, as these are typically required within 7-14 days under standard contract conditions.

Building inspections assess structural integrity, electrical and plumbing systems, roof condition, and compliance with building codes. Pest inspections identify termite activity, timber pest damage, and conditions conducive to pest infestation.

Licensed inspectors provide detailed written reports identifying defects, safety issues, and recommended repairs. Major structural problems or significant pest damage may justify renegotiating the purchase price, requiring seller repairs, or withdrawing from the contract if repair costs are substantial.

Inspection costs range from AUD 400-900 depending on property size and complexity. Choose licensed inspectors with professional indemnity insurance and strong industry reputations through recommendations or industry associations.

It's something we develop in our Australia property pack.

What key conditions should I include in a Queensland property contract to protect myself?

Finance approval conditions protect you if your lender refuses the loan or offers less favorable terms than expected.

Include satisfactory building and pest inspection conditions with specific timeframes for conducting inspections and negotiating repairs or price adjustments based on findings.

Due diligence conditions allow additional time for property searches, council inquiries, and legal review beyond standard contract terms. This is particularly important for unique properties, strata units, or properties with potential development opportunities.

For investment properties, consider rental guarantee conditions or existing tenant lease reviews to ensure rental returns meet your expectations.

Your solicitor should review all contract conditions to ensure adequate protection while maintaining reasonable terms that sellers will accept in competitive markets.

What are the typical upfront costs in Brisbane, like stamp duty, legal fees, and inspections?

Cost Category	Typical Range	Additional Notes
Stamp Duty	3.5-5.75% of property value	Foreign buyer surcharge adds 3% additional
Legal/Conveyancing	AUD 1,200-2,500	Solicitors typically cost more than conveyancers
Building Inspection	AUD 300-600	Varies by property size and complexity
Pest Inspection	AUD 200-400	Often combined with building inspection
Loan Application	AUD 600-1,200	Includes valuation and establishment fees
Property Insurance	AUD 800-2,000 annually	Required from contract date, not settlement
Council/Title Searches	AUD 200-500	Usually included in legal fees

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Australia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

What are the common pitfalls around finance clauses, cooling-off periods, and settlement dates?

Inadequately worded finance clauses can result in losing your deposit if loan approval falls through due to changed circumstances or property valuation issues.

Many buyers misunderstand cooling-off period penalties, assuming they can withdraw without cost. In Queensland, withdrawal during cooling-off typically costs 0.25% of the purchase price, and this right doesn't apply to auction purchases.

Unrealistic settlement dates can create problems if finance approval, property searches, or legal processes take longer than expected. Allow adequate time for all conditions to be satisfied, particularly for complex properties or during busy market periods.

Finance clause conditions should specify loan amount, interest rate parameters, and loan type to prevent lenders from offering significantly different terms than expected. Include provisions for loan approval delays beyond your control.

Settlement date extensions may incur penalty interest or allow sellers to terminate contracts if delays are excessive or not properly managed through legal representatives.

How do property searches and council checks work in Brisbane and why are they important?

Property searches reveal legal encumbrances, unpaid rates and taxes, building approvals, zoning restrictions, and other factors affecting property ownership and use.

Title searches confirm legal ownership, mortgage details, easements, and any restrictions on property use or development. Council searches identify approved building works, outstanding notices, future road widening plans, and zoning classifications.

Environmental searches may reveal flood zones, contaminated land issues, or other environmental restrictions affecting property value or insurance costs. These are particularly important in Brisbane due to flood-prone areas and environmental sensitivities.

Your solicitor orders and interprets these searches, advising on any issues that could affect your intended use of the property, future development potential, or resale value.

Searches typically cost AUD 200-500 and are essential for identifying hidden problems that could result in significant future costs or legal complications after settlement.

What mistakes do buyers most often make with insurance, deposits, or transfer of funds in Queensland?

Failing to arrange property insurance from contract date (not settlement date) breaches contract terms and leaves you exposed to potential losses from damage or destruction.

1. **Insurance timing errors** - Property insurance must commence from contract signing, not settlement date, as you become legally responsible for the property at contract exchange2. **Deposit transfer mistakes** - Using incorrect bank account details or falling victim to email scams when transferring deposits to solicitor trust accounts3. **Insufficient deposit funds** - Not accounting for bank transfer delays or having funds tied up in term deposits or shares that can't be quickly accessed4. **Settlement fund timing** - Not arranging final payment release from lenders early enough to meet settlement deadlines, particularly during busy periods5. **Foreign exchange fluctuations** - Foreign buyers not hedging currency exposure between contract and settlement, leading to significant cost variations

Always verify bank account details through independent phone calls to your solicitor, not email instructions, as property scams frequently involve fake payment redirection emails.

It's something we develop in our Australia property pack.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. Property Tax Specialists - Non-Resident Property Guide
2. TT Consultancy - Brisbane Property from Overseas
3. Properstar - Australia Real Estate Guide
4. Experts for Expats - Foreign Property Purchase
5. Aussie Home Loans - Borrowing Calculator
6. Westpac - Mortgage Calculator
7. Finance and Mortgage - Pre-approval Guide
8. Westpac - Home Loan Pre-approval