At a glance
- Verify property details and authority through appropriate official channels.
- Understand the written deposit conditions before paying.
- Record what is included and how handover will take place.
- Records and authority
- Transaction terms
- Handover and procedures
A promising property can create pressure to commit quickly. A considered purchase begins with the asset, the person authorised to deal with it and the terms of the transaction. This guide helps organise questions; it does not replace legal review or a technical survey.
01Identify the property and the parties
Request the available documents identifying the asset and its owner. Compare them with the property you viewed and the written offer, using the official verification routes appropriate to the transaction. Record differences that require an explanation.
If an agent, representative or intermediary is involved, establish their role and authority. Authority to market a property does not necessarily establish authority to sign an agreement or receive money. The checks depend on the transaction and the documents.
02Clarify the price and what it includes
Identify the price, payment schedule and costs each party expects to bear. List relevant fixtures, parking, ancillary areas and unfinished work. This helps avoid a difference between what the buyer viewed and what the seller considers included.
Keep the offer and important correspondence with the transaction documents. Ask for the final agreement to reflect the actual arrangement rather than relying on a short advertisement or conversation to resolve later questions.
03Understand a reservation payment or deposit
Read the purpose of the payment, how it is credited or refunded, the associated timetable and what happens if a condition is not met. A familiar label does not replace an assessment of the wording, circumstances and applicable rules.
If the purchase depends on finance, inspection or an outstanding step, discuss that dependency before paying. Keep the payment record, recipient details and written purpose. Seek advice before committing if the effect of withdrawal or non-completion is unclear.
04Separate legal review from technical inspection
A technical specialist can assess the condition of the building or work. Legal review examines documents and commitments. One process does not answer all the questions addressed by the other.
Record issues requiring attention, who will address them, the expected timing and how completion will be checked. Connect those points to the agreed documents rather than leaving an informal list with an uncertain status.
05Make handover a documented step
Clarify the handover date, expected condition and any relevant keys, equipment, meter readings or outstanding work. Where an existing occupation or arrangement affects the property, understand its implications before committing.
Review the complete final documentation and identify unresolved points. A sound decision depends on understanding what you are buying, the obligations you accept and the practical steps that follow.
Official sources for further reading
This content is general information, not a substitute for advice on your circumstances and documents. The applicable position depends on the facts and relevant rules.
