HELP, HOW DO I SELL MY STRATA UNIT?

With the new seller disclosure regime and new REIQ contract in force from 1 August 2025, sellers are having some difficultly in ensuring all the relevant information is supplied, so how do I sell my Strata unit?

There are two parts required to enable a signed contract, these are a complete Seller disclosure form and additional disclosures in the REIQ Sale Contract.

PART 1: PRIOR TO ENTERING INTO THE SALE CONTRACT TO SELL MY STRATA UNIT

Disclosure is the seller’s responsibility and can be guided by their agent, lawyer or a third party; noting that these parties are not ultimately responsible for providing the documentation. In a strata titled building, a search of the body corporate records may be required to complete the obligations.

1. What does a seller need to do?

Engage a solicitor.
Learn what is included in the Form 2.
Collate relevant documents and up to date title records.
Obtain the required certificates [SEE 1.A BELOW].
Ensure disclosure is given properly and recorded, depending on method of sale.

What are the prescribed certificates?

The buyers search agent or solicitor can assist with:

Title search and survey plan.
Notices required under any the Environmental Protection Act 1994, Queensland Building and Construction Commission Act 1991, Building Act 1995 and Planning Act 2016. The reason for these notices is to disclose:
The zoning of the lot.
If any proposed transport infrastructure notices that have been given.
If the land is listed on the contaminated land or environmental management registers.
If a notice for intention to resume the property or part, there of.
If there are any outstanding building notices.
A Tree application or order under the Neighbourhood Disputes Act.
Pool Safety Certificate (if applicable) – can order from the Body Corporate.
A Body Corporate Certificate, being a Form 33 for BCCMA, Form 18 for BUGTA and Form 34 for 2 lot small schemes (SEE 1.B BELOW).

What is the Body Corporate Certificate?

Provided to the seller by the body corporate for freehold land that has been strata titled subject to BCCMA and BUGTA, which forms part of the Form 2.

The key information relates to:

Property and community titles scheme details.
Bylaws and exclusive use areas.
Lot improvements and financial information.
Owner contributions and amounts owning by the seller at the time of the certificate.
Common property and assets of the body corporate.
Insurance.
Contracts and authorisations.
If there is embedded network electricity supply.
And attach the consolidated bylaws and the last full financial statements (from the last AGM).

2. What is NOT included in the Form 2 Seller Disclosure to sell my Strata unit (including the body corporate prescribed certificate)?

Form 2 (extract from the form)

This statement does not include information about:

flooding or other natural hazard history.
structural soundness of the building or pest infestation.
current or historical use of the property.
current past or building or development approvals for the property.
limits imposed by planning laws on use of the land.
services that are or maybe connected to the property.
the presence of asbestos within buildings or improvement on the property.

Prescribed body corporate certificate (extract from the form)

This certificate does not include information about:

physical defects in the common property or buildings in the scheme;
body corporate expenses and liabilities for which the body corporate has not fixed contributions;
current, past or planned body corporate disputes or court actions;
orders made against the body corporate by an adjudicator, a tribunal or a court;
matters raised at recent committee meetings or body corporate meetings; or
the lawful use of lots, including whether a lot can be used for short-term letting.

3. Timeframes

A body corporate certificate 5 business days (as it is a part of the Seller Disclosure Form 2)

Seller disclosure (full disclosure) 7 business days.

There is a complete guide from the Queensland Government of the seller’s responsibilities under the Property Law Act 2023 here and the Office of the Commissioner for Body Corporate here and here.

PART 2: IS THERE ADDITIONAL DISCLOSURE IN THE REIQ SALE CONTRACT?

There may be body corporate records that are required to be disclosed outside of the Form 2 and prescribed certificates. Should the sale contract require additional disclosures on any aspects specifically excluded from the form 2 (as outlined in section 2 above), then the buyer or agent can conduct a search of the body corporate records by Accessing Your Body Corporate’s Records shown Here.

PART 3: SETTLEMENT

Now that all disclosure to sell my Strata unit has been supplied and documented and you have an executed contract, prior to settlement the conveyancing solicitor may want to confirm the financial position of the lot owner just prior to sale, which includes a ledger card and potentially up to date financials. This will ensure that the body corporate debts on settlement have been paid by the seller and not passed onto the buyer post settlement. Read further on treatment of body corporate debts Here.

Article Contributed by Nicky Lonergan, Chief Executive Officer of Archers the Strata Professionals.

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