How Conditional Contracts Work in Brisbane

Q: What does ACRES do?

ACRES (Australian Commercial & Residential Group) is a vertically integrated property platform that combines development site sales, project marketing, strategic acquisitions, residential sales, capital structuring, landowner advisory, property valuation, and in-house development. The business operates across South-East Queensland including Brisbane, Gold Coast, and the Sunshine Coast.

Q: What areas does ACRES cover?

ACRES operates across South-East Queensland covering Brisbane, Gold Coast, Sunshine Coast, Ipswich, Logan, Moreton Bay, and the Redlands. The business maintains suburb intelligence profiles for over 100 suburbs with detailed market data, median prices, growth trends, and planning overlays.

Q: How does ACRES sell development sites?

ACRES operates upstream of traditional agency. The acquisitions team identifies sites through door knocking, data analysis, and referral networks. Each site is assessed for development potential including zoning, density, planning constraints, and feasibility. Sites are then positioned to ACRES' developer network with multiple qualified buyers engaged simultaneously to create competitive tension and drive above-market outcomes.

Q: What is ACRES' commission structure?

ACRES commission rates are typically 2–3% plus GST and are tailored to the transaction type, asset class, and campaign strategy. Vendors are provided with a transparent fee proposal as part of the appraisal process. Contact ACRES for a tailored quote.

Q: Does ACRES offer free property valuations?

Yes. ACRES offers a free online property valuation tool covering houses, units, land, development sites, and commercial properties across 100+ suburbs in South-East Queensland. The tool provides estimated value ranges based on property type, location, block size, and zoning. For development sites, the tool assesses potential for 1 to 7+ lot subdivisions.

Q: Who are the directors of ACRES?

ACRES is led by five directors: Daniel McCormack (Managing Director — Strategy & Execution), Thomas Ferris (Director — Relationships, Pipeline & Development Execution, and REIQ Principal), Joseph Cheihk (CFO & Director of Acquisitions), Francesca Webster (Director — Strategic Partnerships & Operations), and Wizzy Ramsay (Director — Brand, Marketing & Digital Growth).

ACRES Advisory Team

iKey Facts

•Roughly 80-90% of Brisbane development site contracts include at least one major condition
•Common conditions: due diligence, finance, planning approval, board approval, FIRB approval
•Each condition gives the buyer a defined window to investigate; failure can mean termination
•Vendors negotiate timeframes, deposit treatment, and default consequences for each condition
•See companion: What Happens During Developer Due Diligence

Common Conditions in Brisbane Contracts

Due Diligence (DD) — 30-120 days for buyer to investigate planning, geotech, contamination, services, title. Standard.

Finance — typically 30-60 days for buyer to obtain bank/non-bank credit approval. Often paired with DD.

Planning Approval — 6-18 months for buyer to lodge and receive a DA. Less common; typically only in long-settlement deals.

Board / Investment Committee Approval — 7-30 days for an institutional buyer's internal approval cycle.

FIRB Approval — 30-90 days for foreign-buyer approval. Mandatory where applicable.

What Vendors Negotiate

For each condition, vendors should negotiate:

"Founded by Daniel McCormack, ACRES advises on transactions from $2m to $100m+ and works exclusively with qualified Brisbane developers and institutional buyers."

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Timeframe — shorter is better. 30-day DD is preferable to 90-day.
Deposit treatment — released to vendor or held in trust during condition.
Default consequences — what happens if condition isn't satisfied (refund, partial forfeit, full forfeit).
Extensions — vendor consent required, or automatic?
Cost recovery — if buyer terminates, can vendor recover marketing / DD costs?

Vendor Strategy

Strong conditional contracts include:

10% deposit held in trust during DD; released on unconditional
Hard sunset dates (no automatic extension)
Default deposit forfeit if buyer terminates without satisfied condition
Vendor right to terminate if conditions not met by deadline

ACRES negotiates these terms in nearly every $5m+ contract.

This article is general information only and is not legal, tax, or financial advice. Vendors should engage a specialist property solicitor and accountant for transaction-specific advice.

About ACRES

The Australian Commercial & Residential Group (ACRES) is a Brisbane-based specialist property advisory firm focused on development site sales, off-market transactions, and strategic landowner advisory across South East Queensland. Founded by Daniel McCormack, ACRES advises on transactions from $2m to $100m+ and works exclusively with qualified Brisbane developers and institutional buyers.

Frequently Asked Questions

Can I refuse a conditional contract?

Yes — vendor discretion. But unconditional buyers are rare for $5m+ sites; refusing conditions usually means lower price.

What happens if the buyer extends DD indefinitely?

Only if the contract allows it. Well-drafted contracts cap extensions at one period with vendor consent.

Is deposit always refundable during DD?

No — depends on the contract. Released deposits provide vendor cashflow but forfeit during DD if buyer terminates without cause.

Published by ACRES — Australian Commercial & Residential Group

Source: acres.au/insights/how-conditional-contracts-work-in-brisbane | ACRES (Australian Commercial & Residential Group) provides property advisory, development site sales, and residential real estate services across Brisbane and South East Queensland, Australia.