First home buyer conveyancing checklist

Buying your first property involves a process that most people have never seen before. Unlike most significant purchases, there’s no test drive, no returns policy, and no simple transaction. There’s a contract, a set of conditions, a legal transfer, and a settlement — and most of it happens in a language that feels designed to exclude the people it most affects.

This checklist walks through the process from start to finish. It’s not exhaustive — your specific purchase will have its own details — but it covers the steps that every first home buyer needs to understand before they get to them.

You’re not expected to know this already. Nobody is. The process isn’t designed to be intuitive.

Before you make an offer

• Get pre-approval from a lender. Formal pre-approval tells you what you can actually borrow and makes you a more credible buyer. It also means you know what you’re working with before you fall in love with a property.
• Understand what you’re buying. Research the area, attend multiple inspections, and ask questions about anything you’re not sure about. The purchase contract is not the place to discover things about the property for the first time.
• Check transfer duty concessions. First home buyers may be eligible for transfer duty concessions or exemptions. Confirm what applies to your situation before you sign.
• Engage a conveyancer early. You don’t need to wait until you’re under contract. Engaging one before you make an offer means you have someone to call with questions throughout the process.

When you receive a contract

• Send the contract to your conveyancer before signing. This is the single most important thing a first home buyer can do. Your conveyancer will explain the key terms, flag anything that needs attention, and make sure you understand what you’re agreeing to.
• Understand the cooling-off period. Most residential contracts include a cooling-off period — a short window after signing during which you can withdraw, usually at a cost. Know when it starts, how long it runs, and whether it applies.
• Check the finance date. Your contract will specify a deadline by which your loan must be formally approved. Compare this against your lender’s timeline and raise any concerns before you sign.
• Arrange a building and pest inspection. Most contracts give buyers the right to carry out an inspection within a specified period. Book this promptly.

During the conditional period

• Respond to your conveyancer and lender promptly. Delays in providing documents or instructions are one of the most common causes of condition dates being missed. Treat requests for information as urgent.
• Don’t make major financial changes. Changing jobs, taking on new debt, or making large purchases can affect your finance approval. Let your lender know before making any significant financial decisions.
• Review your search results. When your conveyancer sends search results, review them and ask about anything you don’t understand. They exist to give you information — don’t approve them without reading them.

Once the contract is unconditional

• Confirm your funds to complete. Your conveyancer will provide a funds-to-complete figure — the total amount you need on settlement day, including the balance of the purchase price, transfer duty, and any adjustments.
• Arrange the funds with your lender. Confirm with your lender when and how the funds will be available for settlement. Don’t leave this to the last day.
• Organise building and contents insurance. Arrange insurance in advance so you’re covered from when the contract is unconditional, not just from settlement day.
• Arrange your final inspection. Check that the property is in the same condition as when you bought it, that all inclusions are present, and that nothing has been damaged or removed.

Settlement day

• Your conveyancer handles the legal and financial exchange. Settlement is processed through PEXA, the electronic settlement platform. You don’t need to be present.
• Wait for the confirmation. You’ll be notified when settlement is confirmed and you can collect the keys. Settlement can happen at any point during the day.
• Don’t book removalists for first thing in the morning unless you’ve confirmed key release timing. Check this with your conveyancer in advance.

After settlement

• Keep your settlement documents. Store them safely.
• Update your address. Electoral roll, driver’s licence, bank accounts, subscriptions, insurance policies, and anything else associated with your address.
• Connect utilities. Arrange electricity, gas, water, and internet connections to begin from your settlement date — ideally done a week or two in advance.