2 min read

Preparing to purchase

Picture of Lindel Enticott Lindel Enticott Oct 2, 2025 3:04:58 PM

Buyer Due Diligence Victoria Buying Conveyancing costs Stamp Duty
Preparing to purchase
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Our brand essence, Always Be Prepared means with our help, you can move from browsing to buying with total confidence.

Below is a step-by-step plan to keep you ahead of the market.

 

Know your true budget

Before you circle property listings, you should lock in written loan pre-approval and calculate the expected total cost of owning the property. Using a proper budget prevents last-minute panic and to signals to real estate agents that you are prepared!

TIP: check recent sales in the area (similar properties) to get a better idea on the market. Search auction clearance rates and consider if any local infrastructure plans could swing the value (such as road plans, public transport works and developments).

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  • Purchase price
  • Stamp duty
  • Land Titles Office transfer fees
  • Legal conveyancing fees
  • Building and pest inspection costs
  • Bank fees (loan application and valuation costs)
  • Moving expenses

Get legal help early

Great outcomes are rarely solo efforts. Engage a property-focused law firm from the moment you spot a potential home.

Our streamlined legal reviews flag hidden contract risks within 24 hours, which could be before your rival buyers have even found a solicitor.

We thoroughly check the documents and translate legalese into plain English so you can act quickly and with confidence.
  • Is there an easement (eg. shared driveways, sewer drains and powerlines)?
  • Is there a legal restriction on title (e.g. limits on extensions or building materials)?
  • What planning schemes and overlays apply?
  • Are there any significant Owners Corporation matters such as major works, special levies or neighbourhood disputes?
  • Have recent building works been performed?

 

Understand the true condition of the property 

You buy the property “as is” in its current state of condition and repair (including hidden defects). 

Unless you are an experienced building inspector or professional, you might miss critical issues during your standard inspections.

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Independent, professional reports can reveal structural issues, pest activity, and safety hazards you won’t spot yourself. They should be non-negotiable.

Don’t rely on vendor-provided inspections, as they may not tell the whole story (and you may not have any recourse if they are wrong).

 

Don't forget the basics
There is a range of basic due diligence that a purchaser needs to consider. Not everything is revealed in the section 32.

  • What is the local traffic like?
  • Is there parking available for visitors?
  • What is the ambiance, noise, smell and neighbourhood character like?
  • What has the land been used for previously? Is it safe?
  • Can you use the land or develop the land the way you want to?
  • Can you build, extend or subdivide as intended?
  • Will permits be needed for your future plans? Are they like to be approved?

If the property is being sold at auction, all of this due diligence must be completed before you bid. Bidding at auction is unconditional, with no cooling-off period and no opportunity to add a 'subject to finance' clause. 

Consumer Affairs Victoria: Due Diligence Checklist

If the property is being sold at auction, all of this due diligence must be completed before you bid. Bidding at auction is unconditional, with no cooling-off period and no opportunity to add a 'subject to finance' clause. 

 


Ready to Act?

While others hesitate, Prepared buyers secure their dream homes.
The property market moves fast, but we move faster.

The information is general in nature and does not constitute legal advice. If you are buying or selling, please contact us to request legal advice.