Buying property - checklist

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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 without the vendor's agreement 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 buying at auction, make sure you get the inspection report before the auction, as you cannot put conditions on the contract of sale at an auction without the vendor's agreement 
  • 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 without the vendor's agreement
  • 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.