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Buying property

Buying property

Buying a home is one of the biggest financial decisions you'll make, and there are more moving parts than most people expect — getting finance-ready, finding the right property, the contract, and settlement. These guides walk you through each stage of a purchase: what to check at each step, and where buyers most often get caught out, with the differences that matter across NSW, QLD and VIC.

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The complete guide to buying a house in Australia

The whole buying journey mapped — from budgeting and finance through offer, contract and settlement — with links to the detailed stage guides for NSW, QLD and VIC, plus explainers on auctions, investment purchases and buying through a company, SMSF or trust.

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Getting ready to buy

The groundwork before you start looking — how buying works, what conveyancing costs, and getting a contract checked before you sign.

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Finding and assessing a property

Sizing up the property itself — its condition, what's included in the sale, and who carries the risk before settlement.

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Offer, contract and conditions

The heart of the deal — making your offer, cooling-off, deposits, finance approval, and the conditions that make it binding.

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Settlement

The final stage — how settlement timing works, your rights if it runs late, and getting the property handed over as agreed.

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Explainers

What is the cooling-off period when buying property?

The cooling-off period is a set window after signing a residential property contract where you can withdraw for any reason, subject to a small penalty deducted from your deposit. It never applies to auction purchases, in any state.

What's the difference between chattels and fixtures when buying a property?

Chattels are movable items that aren't included in a sale unless agreed in the contract, while fixtures are permanently attached and generally included. The key test is whether removing the item would damage the property.

What happens if I miss the deposit deadline when buying a property?

A deposit is part payment of the purchase price you pay when signing the contract. Paying it on time secures the property and takes it off the market to other buyers; if you don't pay by the date required in the contract, the seller may terminate and claim compensation — even after you eventually pay.

What happens if my finance isn't approved in time when buying a property?

Finance approval is your lender's formal agreement to fund the purchase. Where your contract is subject to finance, you must take all reasonable steps to obtain approval by the finance date — applying promptly and following up diligently — then notify the seller in writing before the deadline whether it's approved, waived, or not approved.

What do I need to do to comply with the finance and building & pest conditions in my contract?

Complying with contract conditions means satisfying the requirements your contract is subject to — typically a finance condition or a building and pest inspection condition — by the relevant deadlines. You must take reasonable steps to meet them in time, or you may lose the right to terminate on those grounds.

What is Section 27 early release of deposit in Victoria, and how does it work?

Section 27 of Victoria's Sale of Land Act 1962 lets a buyer's deposit be released to the seller before settlement, instead of being held in trust, if certain conditions are met.

Guides

Getting your contract reviewed before you sign

Why having your contract of sale reviewed before you sign matters, what a review covers, and how it protects your deposit and position.
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What conveyancing costs: fees vs disbursements

The difference between a conveyancer's fee and disbursements, what sits in each, and how to compare quotes without surprises.
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Signed and now unsure? What cooling-off protects — and what pulling out costs

The cooling-off period when buying — how long you have to change your mind, what pulling out costs, and how the rules differ in VIC, QLD and NSW.
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“Subject to finance” — what happens if your loan falls through before settlement

How the 'subject to finance' condition works — pre-approval versus unconditional, timeframes, and what happens if your loan is delayed or declined.
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