Property buyer checklist

Make sure you have:

  • worked out your budget 
  • if you plan to buy at auction, arranged a pre-approved loan. You cannot make the contract of sale subject to finance if you buy at auction 
  • selected your preferred suburb/location 
  • worked out what features you want in a property (for example, number and size of bedrooms). If you are considering a flat, apartment or unit, you should also refer to our Buying an apartment or unit checklist 
  • inspected similar properties in the area and checked sale results in newspapers and online to find out how much they sold for 
  • understood the differences between a private sale and an auction 
  • established if the property require a building inspection. If so, make sure you get the results before auction, as you cannot put conditions on the contract of sale at an auction 
  • worked out if you need to make the purchase subject to a building inspection for a private sale 
  • worked out if property require a pest inspection. If so, make sure you get the results before auction, as you cannot put conditions on the contract of sale at an auction 
  • established if you need to make the purchase subject to a building inspection for a private sale 
  • your legal practitioner or conveyancer check the section 32 vendor’s statement and the contract of sale 
  • developed a strategy for bidding at auction or for making an offer for a private sale 
  • knowledge about your cooling-off rights 
  • asked the agent about any items that appear to be fixtures of the property but could instead be items (personal chattels), which the seller may remove at settlement 
  • organised your deposit, so you can pay when required by the agent 
  • checked all items you believe come with the property are in good working order and stated on the contract of sale 
  • checked those items on final inspection 
  • purchased a kit if you decide to do your own conveyancing.

Last updated: 28/04/2012

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