Step-by-Step Guide to Buying Property in Victoria

DY Conveyancing makes home buying clear, informed, and stress-free.

Buying a home in Victoria is an exciting milestone—but the legal steps, financial risks, and fine print can make it overwhelming. Without the right support, buyers can fall into costly traps.

At DY Conveyancing, we simplify the entire process. With expert guidance and a structured approach, you'll feel confident through every stage—from planning to property search to final settlement.

1. 📋 Planning & Preparation

A successful purchase starts with a clear plan.

✔️ Set a Realistic BudgetCalculate your borrowing power, savings, and weekly commitments. Don’t forget to include stamp duty, legal fees, inspection costs, and moving expenses.

✔️ Get Pre-Approved for FinanceSecuring pre-approval shows you’re serious and gives you a competitive edge when making an offer.

✔️ Research the MarketExplore different suburbs, property types, and recent sales in your target areas. Knowing local property values will help you avoid overpaying.

2. 🔍 Finding the Right Property

Now that you’re ready to buy, it’s time to begin your search.

✔️ Attend InspectionsVisit open homes to assess layout, location, and condition. Use real estate platforms and speak with agents regularly.

✔️ Do Your Due DiligenceDouble-check all fixtures and appliances, and review council zoning, overlays, or future developments in the area.

✔️ Arrange a Building & Pest InspectionHiring a qualified inspector helps you uncover hidden issues like structural defects or termite damage before committing.

3. 💬 Making an Offer & Negotiating

Once you find a property you love, it’s time to act.

✔️ Make an Offer (Private Sale or Auction)In private sales, you can add conditional clauses (e.g. subject to finance, building inspection). These provide legal protection.

✔️ Negotiate TermsDiscuss price, deposit amount, settlement timeframe, and inclusions (e.g. appliances, fittings) with the seller or their agent.

4. 📝 Reviewing Contracts & Paying the Deposit

With terms agreed upon, formal contracts are prepared.

✔️ Review the Contract of SaleHave your Contract of Sale and Vendor Statement (Section 32) professionally reviewed by DY Conveyancing to identify risks.

✔️ Pay the DepositA deposit (commonly 10%) is paid once contracts are signed. This secures the property while the final settlement is arranged.

✔️ Understand the Cooling-Off PeriodFor most private sales in Victoria, you have a three business day cooling-off period to withdraw—though penalties may apply.

5. 🔑 Settlement & Possession

This final stage transfers ownership and gives you access to your new home.

✔️ Confirm Finance & Final Loan ApprovalYour lender will prepare funds and confirm all documents in time for settlement.

✔️ Final SettlementDY Conveyancing will coordinate settlement—transferring title, handling payments, and ensuring all legal conditions are met.

✔️ Take PossessionCollect the keys and move in! Your property journey is now complete.

🧾 Don’t Forget These Extras

✔️ Hidden Costs to Budget For

• Stamp duty

• Legal and conveyancing fees

• Lender’s mortgage insurance (if applicable)

• Council and utility rates

• Insurance and moving costs

✔️ Seek Professional SupportWorking with experienced conveyancers, mortgage brokers, and building inspectors helps you avoid costly mistakes and legal issues.

✔️ Protect Your PurchaseConsider insurance, and always review contracts carefully before signing.

✅ Make Your Home Purchase Simple with DY Conveyancing

Buying a property in Victoria doesn’t have to be complicated. With DY Conveyancing, you have a trusted team handling the legal, financial, and administrative details—so you can focus on finding and enjoying your new home.

📍 Contact us today for an obligation-free consultation.Let’s make your property journey smooth, safe, and stress-free.