Property Purchase Checklist
Buying a property?
Know before you sign.
Use this checklist to help you work through the key financial, property, contract and settlement considerations before making an offer or signing a contract.
Pre-Purchase Property Checklist
Finance & Sale Method
Understand your financial position and the method of sale.
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Get pre-approval for bank loans
Work out your budget. -
Understand the difference between Private Sale and Auction.
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Gain knowledge about your contract cooling-off rights.
Before Making an Offer or Signing
Complete the following checks before committing to the property.
- Conduct physical property boundary measurements and nearest connecting point. Refer to Vendor's Statement (Section 32) for boundary measurements.
- Check that all extensions, outbuildings, pool, spa and internal major renovations have building permits and final inspection certificates in place. Check whether domestic building works have been built by a registered builder or owner builder and whether any domestic building warranty/insurance applies.
- Check that all appliances and alarms are in working order.
- Check all outgoings – Council rates, Water rates, Owners Corporation fees.
- Check for structures built over easements.
- Check for any restrictive covenants.
- Check for leases, e.g. tenant lease and the terms and conditions of the lease.
- Arrange for a building and pest report.
Contract Conditions
Request the agent to include the following information in the contract prior to signing it.
Full Legal Name & Address
Your full legal name and address.
Subject to Finance
Include a finance condition where required.
Subject to Building & Pest Report
Include a condition relating to the building and pest report.
Other Conditions
Any other conditions that you require to ensure that the vendor and vendor agents attend to your requirements before settlement.
All must be in writing under special conditions.
Negotiate and Confirm
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Purchase Price
Negotiate purchase price. -
Deposit
Amount of deposit to be paid, cheque/transfer/deposit bond and date to be paid. -
Settlement Date
Agree on the settlement date.
Settlement will either be – Vendor will provide vacant possession or subject to lease at settlement.
Conveyancer Details
Provide the agent with your licensed Conveyancer details.
A4 Conveyancing Pty Ltd
Provide A4 Conveyancing Pty Ltd with a copy of the contract and Section 32 for checking prior to signing any contract/offer.
Werribee, VIC 3030
A4 Conveyancing Pty Ltd
Provide A4 Conveyancing Pty Ltd with a copy of the contract and Section 32 for checking prior to signing any contract/offer.
Suite 3, 10 Watton St, Werribee, Vic. 3030
(03) 9749 8515
admin@a4conveyancing.com.au
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