Apartment buying checklist

A quick checklist for buying an apartment in an Owners Corporation

Here’s a quick checklist of key activities for buying an apartment:

  1. Get pre-approval from your bank to know how much you can borrow
  2. Find your potential purchase based on your needs & preferences
  3. Engage an experienced conveyancer to assist with potential legal work and contract reviews
  4. Research your property and its associated Owners Corporation/s to understand;
    • Outstanding and future owners corporation levies and other payables
    • Recent sales and rentals in the property
    • Current/past building defects (including active building orders)
    • Notable apartment, building and/or owners corp management issues (e.g. current litigation involving the owners corp, committee harmony)
    • Owners Corp special rules, noise, embedded energy and/or Internet, guest parking, storage, short stay, security and other potential livability issues
  5. Engage qualified and experienced experts help you with your research (an owners corporation inspection is recommended)
  6. Have your legal partner review all documentation and contracts before signing a Contract of Sale. They can also draft any special conditions for you
  7. Arrange a pre-settlement inspection and additional building and/or Owners Corporation inspections if required
  8. Settlement day! Your legal partner will work with the vendor, their conveyancer and your bank to complete all contracts and agreements
  9. Insure your contents before moving in and book your move with the building team if required
  10. Enjoy your new apartment!

Need some help?

Our expert partners can help you do your homework on your property and contracts to uncover any red flags, hidden costs or unwanted surprises.

We’ll help you get no obligation free quotes for legal contract reviews, conveyancing services, building inspections and strata property reports from our panel of certified national and state based experts.