Buying property is a major commitment — but what if you’ve already signed the contract and then discover problems with the home? Can you renegotiate the purchase price after signing?
Let’s explore your legal options in Queensland.
1. In General — You Can’t Change the Price After Signing
Once a contract is signed in Queensland, the agreed price usually cannot be changed. However, some contract conditions may allow room to renegotiate — but only within limited circumstances and strict deadlines.
2. Cooling-Off Period — You Can Cancel, Not Renegotiate
In Queensland, residential property buyers typically have a 5-business-day cooling-off period from the date of signing.
✅ You may terminate the contract for any reason during this period.
❌ You cannot use this period to renegotiate the price.
Penalty: A small cancellation fee (usually 0.25% of the purchase price) may apply.
3. Building & Pest Inspection — Limited Scope for Renegotiation
Most Queensland contracts include a Building and Pest Condition. This allows the buyer to:
- 🛠 Request repairs for significant issues (e.g., termites, leaks, or structural damage)
- 💰 Seek a price reduction, or
- 🚫 Terminate the contract if the defects are serious.
Note: This clause does not apply to minor cosmetic defects or wear and tear.
✅ Tip: Always arrange inspections early to allow time for renegotiation before the condition date expires.
4. After Conditions Are Met — Renegotiation Is Unlikely
Once all contract conditions (finance, building and pest, etc.) are satisfied, the contract becomes unconditional.
At that point, the buyer is required to complete the purchase at the agreed price.
🔒 No further changes can be made unless both parties agree — which is rare and not legally guaranteed.
Legal Tips for Buyers:
- Arrange inspections early and review results before condition dates expire.
- Track key contract deadlines carefully.
- Use a solicitor to help draft formal requests or amendments if problems are found.
- Never assume you can renegotiate after the contract becomes unconditional.
Useful Resources:
Need Legal Help With a Property Purchase?
Our experienced team at W & G Lawyers is here to help.
We guide buyers through contract terms, inspections, and negotiation options, and help protect your legal interests from start to settlement.
📞 Call W & G Lawyers https://wglawyers.com.au/ today to schedule a consultation:
✉ info@wglawyers.com.au
📱 0433 071 350
Disclaimer
The content provided in this article is for general informational purposes only and is not intended to constitute legal advice or substitute for legal consultation. While care has been taken to ensure the accuracy and currency of the information at the time of publication, laws and contractual rights may vary depending on individual circumstances and are subject to change. Readers should not act or refrain from acting based solely on this information without seeking appropriate legal advice tailored to their specific situation.
For personalised and up-to-date advice regarding property purchases, contract conditions, or conveyancing matters in Queensland, please contact W & G Lawyers and speak with one of our qualified solicitors.