Property Investment Checklist for Australian and Overseas Buyers

A property purchase is not complete when the contract is signed. It is complete when the buyer has verified every material factor that affects whether the investment delivers on its expected outcome. This checklist covers the full pre-purchase process for Australian and overseas buyers of new property.

Pre-Purchase Checklist

1. Eligibility confirmed — Domestic buyer, permanent resident, or foreign investor. Foreign investors confirm FIRB eligibility for the specific property type.

2. FIRB application lodged (if applicable) — Apply online through the ATO's foreign investment portal. Ensure the contract includes a FIRB condition allowing withdrawal if approval is not granted.

3. Solicitor or conveyancer engaged — In the state where the property is located. Foreign buyers should ensure the solicitor has experience with foreign buyer transactions.

4. Finance pre-approval obtained — Confirm borrowing capacity before contracting. Foreign buyers should confirm lender willingness to accept offshore income before selecting a project. Obtain pre-approval in writing.

5. Full acquisition cost modelled — Purchase price, stamp duty (standard + foreign buyer surcharge if applicable), FIRB fee, legal costs, mortgage establishment fees, and any building-specific charges (body corporate contribution, settlement adjustments).

6. Contract reviewed by solicitor — Including sunset clause, variation provisions, specification schedule, deposit holding arrangements, and settlement conditions.

7. Developer research completed — Prior completed projects inspected or reviewed. Financial backing assessed. Build timeline confirmed.

8. Rental yield and holding cost modelled — Based on comparable properties in the building or suburb. Strata levies included. Depreciation estimate included. Net weekly holding cost after tax calculated.

9. Property manager identified — Pre-settlement, so there is no vacancy gap between settlement and the first tenancy commencing.

10. Exit strategy considered — What happens at year 5, 10, or 20? Sale, transfer to family member, or long-term hold? CGT implications at each exit point reviewed with an accountant.

VSNRY Supports the Full Checklist

VSNRY Property works with buyers to complete every item on this checklist before contracting. We do not consider a purchase complete until the buyer has full information on every line. Book a consultation to start working through this list on a specific property you're considering.