The Queensland Property Law (Mortgagor Protection) Amendment Act 2008 has amended section 85 of the Property Law Act to require that, unless they have a reasonable excuse, mortgagees or receivers selling Queensland property secured by consumer credit mortgages must:

• adequately advertise the sale; and
• obtain reliable evidence of the property’s value; and
• maintain the property, including by undertaking any reasonable repairs; and
• sell the property at auction unless it is appropriate to sell it in another way; and
• do anything else prescribed by regulation (there is nothing prescribed at this stage).

Failure to comply with the above can result in a maximum penalty of $20,000.