Buying property in Australia is a significant investment and an exciting journey. Whether you are a first-time buyer or an experienced investor, understanding the process is key to a smooth transaction. This guide outlines the steps involved in purchasing property in Australia, from initial research to final settlement.

Step 1: Research and Planning

Before diving into property market, it’s crucial to conduct thorough research. Understand your budget, desired location, and type of property you’re interested in. Consider factors such as local amenities, transport links, schools, and future development plans in the area.

Step 2: Organising Finances

Getting your finances in order is a critical step. This includes:

Budgeting: Determine how much you can afford to spend, including deposit, stamp duty, legal fees, and other transaction costs.

Loan Pre-Approval: Securing pre-approval for a home loan gives you a clear idea of your budget and shows sellers you’re serious.

Step 3: Property Search

Start searching for properties that fit your criteria. Utilise online real estate platforms, attend open house inspections, and consider engage a real estate agent for professional guidance.

Step 4: Due Diligence

Once you find a property you are interested in, conduct due diligence. This includes:

Building and Pest Inspections: Essential to check for structural issues or pest infestations.

Legal Checks: Engage a solicitor to handle legal aspects, such as:

1. Expert Legal Advice:
A lawyer provides expert legal advice, ensuring that you, as the purchaser, understand the intricacies of your property transaction. They can interpret complex legal jargon, explain contractual obligations, and ensure that your rights are protected throughout the process.

2. Contract Review and Negotiation:
One of the primary roles of a lawyer in property transactions is reviewing and negotiating the terms of the contract. They scrutinise the contract of sale, identify any unusual terms, suggest amendments, and negotiate with the seller’s legal representative to ensure the contract aligns with your interests.

3. Due Diligence:
Lawyers conduct thorough due diligence to uncover any legal issues that could affect your ownership or use of the property. This includes searching property titles, checking for any encumbrances or easements, and ensuring compliance with local council regulations.

4. Managing Legal Risks:
Property transactions involve various legal risks. A lawyer identifies these risks and advises on strategies to mitigate them. For example, they ensure compliance with zoning laws, advise on tax implications, and help navigate the complexities of property law.

5. Handling Settlement:
The settlement process involves several legal steps. Your lawyer coordinates with all parties involved, including real estate agents, banks, and the seller’s lawyer, to ensure a smooth and timely settlement. They manage the exchange of legal documents, oversee the financial transaction(s), and ensure the property title is correctly transferred to your name.

6. Post-Purchase Legal Support:
After the purchase, a lawyer can provide ongoing legal support. This includes addressing any issues that arise post-settlement, updating estate plans to include your new property, and advising on legal matters related to property ownership.

Step 5: Making an Offer

When you’re ready to proceed, you can make an offer. This can be done through private treaty or at auction. Be prepared to negotiate on price and terms.

Step 6: Signing the Contract

If your offer is accepted, you’ll sign a contract of sale. Review this document carefully with your solicitor or conveyancer. You will also need to pay a deposit, typically 10% of the purchase price.

Step 7: Finalising the Loan

If you haven’t already, finalise your home loan. Provide your lender with the contract of sale to proceed with the loan approval.

Step 8: Settlement

Settlement is the final step, where property is officially transferred. Your solicitor will manage this process through PEXA (an online platform), involving the payment of the balance of the purchase price and transferring the property title to your name.

Step 9: Moving In

Congratulations! Once settlement is completed, you can collect the keys and move into your new home.


Purchasing property in Australia requires careful planning and understanding of the process. By following these steps and seeking professional advice when needed, you can navigate the journey with confidence and ease, leading to a successful property acquisition.

If you’re seeking expert guidance regarding how to purchase a property, please call us on 1300 559 888. We offer a complimentary consultation to discuss how we ensure that your property transaction is carried through promptly and is stress free.