Doing Your Due Diligence When Buying Property: What Every Australian Needs to Know
Buying a property is one of the biggest financial decisions you will ever make — and yet, many buyers rush into it without doing the proper checks.
In my practice as a Property Lawyer, I see it far too often:
People fall in love with a home, move quickly to “secure it”… and only later discover issues that cost them time, money, stress, or even the entire deal.
The truth is simple:
Due diligence is not optional. It’s essential.
It protects you, your money, your future and your peace of mind.
Here’s what every buyer should understand before signing the dotted line.
1. Read the Contract Thoroughly — Or Get a Lawyer Who Will
The Contract for Sale is the most important document in your purchase.
It sets out:
The terms of the sale
Special conditions
Restrictions
Inclusions/exclusions
Timelines
Penalties
Your legal obligations
Nothing should be guessed or assumed.
A good property lawyer will identify hidden risks, negotiate amendments, explain exactly what you're buying and ensure you’re protected before you commit.
Never sign a contract that hasn’t been reviewed.
2. Order a Building & Pest Report (Houses)
A building and pest inspection can save you tens of thousands by identifying:
Structural issues
Water damage
Termites
Roof defects
Plumbing or electrical problems
Safety hazards
Poor workmanship or incomplete renovations
If issues are found, you may:
Renegotiate the price
Request repairs
Walk away
In every scenario — knowledge is power.
3. Order a Strata Report (Units/Townhouses)
A strata report tells you everything happening “behind the scenes”, including:
Financial health of the Owners Corporation
Upcoming special levies
Building defects
Major disputes
By-laws
Insurance details
Noise, parking or behavioural issues in the building
A cheap strata report today could save you from paying a $40,000 special levy next year.
4. Check Zoning and Planning Certificates
This tells you:
What you can and can’t do with the property
Whether future developments may affect your view, noise levels or sunlight
Environmental risks
Heritage restrictions
Flood, fire or bushland buffers
Proposed road changes or nearby development applications
A dream home can quickly become a regret if a four-storey childcare centre is approved next door.
5. Review Easements, Covenants and Restrictions
These can impact:
Where you can build
How you can renovate
Your fencing and drainage obligations
Access for council or utilities
Your privacy
Future extensions or pools
Never assume the land is “yours to do what you want”.
Legally, it might not be.
6. Understand the True Costs — Not Just the Purchase Price
Buyers often forget to budget for:
Stamp duty
Legal fees
Loan costs
Building or strata reports
Insurance
Moving costs
Council rates and strata levies
Renovations or repairs
Appliances
Adjustments at settlement
Your financial comfort matters as much as your pre-approval.
7. Check Insurance Before Settlement
Insurance should start the moment contracts are exchanged, not on settlement day.
This protects you against:
Fire
Storm
Flood
Theft
Damage to neighbouring properties
My own house fire taught me this:
never assume you’re fully covered — review your policy carefully.
8. Don’t Rush Because of Pressure
Real estate agents are skilled at creating urgency:
“Other buyers are ready to sign.”
“The owner wants it sold today.”
“This price won’t last.”
But YOU carry the risk — not them.
A property is a long-term investment.
Take the time to do it properly.
Due Diligence Is About Protecting Your Future
When you buy a property, you’re not just buying four walls.
You’re buying:
The land
The history
The potential issues
The financial obligations
The legal risks
Due diligence ensures that what looks perfect actually is — or gives you the tools to negotiate and walk away if it isn’t.
At Renee Roumanos Legal, we support everyday Australians through the entire conveyancing process with clear advice, honest guidance and complete transparency.
Thinking of Buying a Property? We’re Here to Help.
If you’d like contract advice, due diligence checks, or legal guidance before signing, reach out to our team.
Protect your investment.
Protect your future.
And buy with confidence — not guesswork.
Call RRL 02 9054 1311
