Country guide · Australia
Buying a home in Australia
Contract, cooling-off, inspection, stamp duty and settlement – the usual buying path.
Updated: 04/10/2026
In brief
- Have the contract reviewed by a conveyancer or solicitor before signing
- Cooling-off periods differ between states and territories
- Deposit is normally paid into a trust account
- Transfer duty and settlement adjustments add to the price
1. Contract and legal review
The contract includes the title search, plan and any special conditions. In some states a vendor statement is attached. A conveyancer or solicitor should review it before you exchange.
2. Cooling-off and inspections
Many states give buyers a cooling-off period after exchange, usually with a small penalty if you withdraw. Building, pest and title inspections should be arranged within that window.
3. Deposit and finance
A deposit – commonly ten percent – is paid on exchange into the agent's trust account or held by the conveyancer. Your lender's approval must be in place before the finance condition expires.
4. Settlement
Transfer duty is payable to the state revenue office, and rates, water and body corporate fees are adjusted. On settlement day funds are exchanged and the transfer is registered.
Common questions
Can I buy before approval?
You can sign subject to finance, but a formal approval reduces risk. Auction sales in many states are unconditional once the hammer falls.
Official sources and further reading
National starting points only. State, provincial and territorial rules may add further requirements.
Professionals in Australia
Documented profiles of agents, developers, managers, investors and architects, listed in a neutral order.
More guides for Australia
Other countries
General information, not legal, tax or financial advice.