When Buying (Real Property)

YOU Need to...

When Selling (Real Property)

YOU Need to...

  • Ask the Services of a Real Estate Agents (if You cannot Make it Yourself)
    • Make an Arrangement
  • (in most cases) Contact a Solicitor/Conveyancer for They Specialises in this Field (They Know what to Do)
    • Arrange for an Agreement
  • Read our Selling Guide - Find it Helpful
  • ...


YOU Need to...




Buyers Checklist...

Below are some of the things buyer might consider before engaging with a contract to Purchase a Property (see if it can be applied in your purchase):

The Location:


  • Does the area have, or will it have, all the amenities you might need (e.g. shops, schools, transport)?
  • Is it zoned residential?
  • What are the local council’s building requirements?
  • Is the electricity connected?
  • Is the sewer connected?
  • Is this a flood-prone area?
  • Is there air-traffic noise in this area?
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The Land:

  • Is there backfill, loose boulders or excess water seepage?
  • Is there steep grading or are there dense trees? If you are considering extensions, you may need to get an engineer’s report to assess the block.
  • Is it free from landslip? Check with the local council, and if necessary, obtain a geo-technical engineer’s report.
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Outside the Property:

  • Is the paintwork in good condition?
  • Is the building free from damp? Look for signs of damp around window sills, on ceilings and under floor coverings.
  • Are there any cracks in the walls?
  • Are the roofing, guttering and downpipes in good condition?
  • Is there a garage or carport?
  • Are paths, fences and retaining walls in good condition?
  • Is it possible to extend the property for future needs?
  • Has the property already been added to?
  • Were the extensions approved by council?
  • If there is a pool, does the fencing comply with safety standards?
  • Is the pool or spa equipment operational?

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Inside the Property:

  • Are the walls and ceilings in good condition? Remember to check behind furniture.
  • Is the floor level and in sound condition (e.g. are timber floors free from spring, are concrete floors free from cracks)?
  • What is included in the contract (e.g. floor coverings, curtains, blinds, light fittings, air conditioning, heating appliances)?
  • Are any inclusions fully paid for and what is their condition?
  • Is the property insulated, ceilings and walls?
  • Is there good natural lighting and ventilation in all rooms?
  • Do the windows and doors open and close property?
  • Are there any flyscreens?
  • Check the number of power points. Are they suitably located?
  • Is the telephone connected?
  • Is there a TV antenna and outlet? Is it included in the sale?
  • Will your furniture fit into the property?
  • Are doorways and passageways wide enough to move furniture through?





  • Are there sufficient cupboards and is there enough bench space?
  • Do the cupboards open and shut properly? Test.
  • Do the stove and hotplates work properly? Test.
  • Will your refrigerator fit?
  • If there is a dishwasher, is it included in the sale? If not, is there room for a dishwasher and microwave oven?
  • Turn on all taps to check for water pressure and water hammer. Does water in sinks and wash basins drain away quickly?
  • Are there sufficient power points?
  • Is the lighting adequate?





  • Is there sufficient ventilation?
  • Is there an exhaust fan?
  • Is the shower recess free from leaks?
  • Test to see if water leaks through or under the screen.
  • Are there sufficient power points?
  • Is the lighting adequate?
  • Are there mirrors, cupboards and towel rails?
  • Is the toilet in good condition?
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  • Is the size and type of hot water service suitable?
  • Can your washing machine be installed without problem?
  • Is there room for a clothes dryer?
  • Are there sufficient power points?
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  • Will the bedroom be affected by noise and light factors (e.g. street lights, headlights of passing cars, screeching brakes, trucks changing gears)?
  • Will the bedrooms be cool in summer?
  • Are wardrobes included in the price?
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1. Not Shop around for the best loan. There are more than 40 lenders in Australia and interest can vary by any up to 2%. Now, think for a minute, let’s say that the loan was $350,000. That is $7,000 year! As there are so many lenders, how do you find them? Talk to an experienced mortgage broker who has at least 5 years of experience.


2. Holding deposit. You will quickly know this term because the salesman will drum it into you. The truth is it has no meaning, as it is a fictitious term invented by the salesman. It has no real meaning. It has no legal basis.


3. Incompetent and slow lawyer. Make sure you get a recommendation and look for the one that deal only with property matters. Do not get the one that specialises in going to court because they will spend most of their time in court and not on your matter.


4. Inclusions. Make sure on the sales contract you also tick things that will come with the purchase eg. Curtains, dishwasher and Stove or you will be shocked at settlement time.


5. Not making sure the inclusions are working. Don’t be disappointed to find out during the final inspection that things like the dishwasher or the range hood are not working. There is nothing you can do as there are NO guarantees in the contract that it will be working.


6. Deposit. It is important that the 10% deposit has to arrive at the real estate agent before the agreed time or you will lose 10% of the purchase price (clause 2.5 and 9 of the contract).


7. If you do not have the funds at settlement you can lose more than 10% of the purchase price (clause 9 of the contract).


8. The meaning of pre-approval. The word pre means before like in Pre School. Therefore it means that your loan is not approved.


9. Lender’s Mortgage Insurance (LMI). This is an insurance that protects the bank and not you! Usually you will have to pay LMI if you borrow more than 80% of the purchase price.


10. Claiming Tax Deduction on Investment property. Your house and all the inclusions do depreciate over time. You are entitled to claim these depreciation but very few people know about it.


11. Title Insurance. Most people have not heard of it and therefore do not buy it. For a one off fee, title insurance protects the buyer from risks such as illegal building work, boundary defects and fraud & forgery.


What to know more? Why don’t you speak to our friendly staff?



About a Will

What is a will?

A will is a legal document that is prepared when you are still alive. It set out how you wish to distribute your assets after you die.


Is it good to have a will?

Yes it is. So after you die, your wish can be carried out the way you wanted it.


What if you don’t have a will?

When you die without a will, it is known as you have died "intestate". This can be messy.

If you don’t have a will when you die, there could be a complication in distributing your assets. In some cases, your estate will goes to the government.


Things to note:

  • Any will that was made before you got married, from the date of marriage that is invalid and become useless. You need to make a new will.
  • If you need to update your will, it is best to make a new one. The will with the latest date is the valid will.

Where should you keep the will?

Most people keep the will in their bedroom where it can be easily found after their death. It's all up to you to do the same.


Can you use the will while you are still alive?

No. A will is only come into use after you have died. You cannot use it when you are still alive.



By Stephen Lu