Know what you are signing before you buy.

Wherever possible, have the contract reviewed before signing or bidding. A review can identify significant conditions, disclosure issues, financial obligations and other transaction risks that may influence your decision. If you have already signed, a prompt review can still clarify your rights and obligations, identify critical deadlines, and determine whether any cooling-off, termination or other options remain available.

Yes. The contract should ideally be reviewed before auction day because auction contracts are generally unconditional once the property is purchased. Send the contract and auction date with your enquiry.

You receive a clear scope and fee before any work begins, so you can decide with the cost in front of you. Send the details for a quote.

A building and pest report is not compulsory, but we recommend one before you commit. It can reveal structural problems, termite damage and other defects that are expensive to fix. Where possible, make your contract subject to a satisfactory report, or arrange it before an auction.

Stamp duty is set by the state or territory where the property is located and depends on the price, the type of property and whether concessions apply, such as first home buyer relief. Each revenue office has an online calculator, and we can confirm the exact amount for your purchase before settlement.

A finance clause lets you end the contract if your loan is not approved in the time allowed, which protects your deposit. It is usually not available at auction, so have your finance approved first. We can advise on the clause and the time limit that suits your purchase.

Have the contract reviewed before you sign, check your finance, ensure your purchasing entity is confirmed (i.e. company, trust, individual) and arrange building and pest inspections if you can. Once you sign, you may be bound, so get advice first. Send us the contract and we will explain the key risks in plain English.

Cooling-off rights vary between states and territories and may depend on the type of property and whether the buyer is an individual, company, estate agent or another entity. For example, Victoria generally allows three clear business days, while Queensland and New South Wales generally allow five business days. Some jurisdictions provide no general cooling-off period. Cooling-off rights may also be excluded for commercial properties, purchases by companies or estate agents, and properties bought at, or within a specified period before or after, a publicly advertised auction. The contract, property location, buyer type and transaction circumstances must be checked before signing.

Nomination rights depend on the contract and the law of the relevant state. In Queensland, nominating or substituting another buyer may trigger duty twice, so the correct purchaser should generally be named before signing.

Furthermore, a member purchasing personally should not assume they can later nominate their self-managed superannuation fund, as this may have duty, tax, finance and superannuation compliance consequences.

In Victoria, double duty may apply where land development occurs before nomination and settlement. “Land development” is broadly defined and can include even just applying for a planning permit, even if no physical work has commenced. Any proposed nomination should therefore be reviewed before the contract is signed and before undertaking development activities.

The timing of stamp duty differs between states and territories. In the ACT, duty is generally assessed and paid after settlement. In Victoria, duty is usually paid as part of the settlement process. In New South Wales and Western Australia, duty is generally assessed and payment arrangements are made before settlement or registration. Different deadlines may apply depending on the transaction, including off-the-plan purchases, nominations, trusts and foreign purchasers. The amount and payment date will be confirmed before settlement.