Whether you have navigated the purchasing of property before or are completely new to the process, gathering and making sense of a variety of documentation is inescapable. 

From legal contracts to identification, financial records and more, there is a lot to source and supply. Successfully preparing all this paperwork and understanding why it’s needed and what each document contains is essential to a smooth and successful homebuying experience. 

In this detailed and comprehensive guide, we’ll identify and take a closer look at the key documents Australian homebuyers will need or come across when buying property. 

 

Why Is So Much Documentation Required When Buying A Home?

Buying a home or any type of property involves several legal and financial aspects and numerous parties whose interests must be well-protected. 

Significant sums of money are involved, there are ownership transfers that must be executed perfectly to be legally binding, huge amounts of fine print and so much more. 

While the sheer volume of documentation involved can seem overwhelming or unnecessary at times, it is a vital tool for ensuring that the rights and responsibilities of everyone involved are understood and safeguarded. 

Ultimately, without appropriate paperwork, the legal compliance and protection, clarity and transparency necessary to complete a sale properly, would be impossible to achieve. 

Types Of Documentation Involved And Their Purpose

There are different types of documentation that you will be required to provide or need to acquire throughout your home-buying journey. 

Exactly what is involved may vary depending on the state or territory you live in and whether you are buying an established property, vacant land and/or building a new home. 

Documentation To Supply

To buy a property, you will be asked to provide documentation from the following categories. 

Personal

You will need to supply proof of address, age and identification to your conveyancer/solicitor, bank or lender and to the relevant office if applying for any government grants or schemes such as the first home buyers grant. 

These must be original or certified copies and include but are not limited to documents such as a:

• Current Australian driver’s licence
• Current Australian or foreign passport
• Birth certificate
• Citizenship certificate
• Marriage certificate 
• Medicare card and more. 

What is required by each party may vary with some asking for more or less documentation or specifying accepted combinations of these. 

Financial 

If you are obtaining a mortgage to finance your home purchase, you will need to provide documentation to your lender to secure loan pre-approval and final approval. 

This is used to help them determine what you can safely borrow and your capacity for repaying the loan. 

This typically includes:

• Proof of income and any savings through payslips or bank statements
• Employment history, demonstrated through payslips, tax returns, employment contracts, superannuation records etc.
• Details of any assets including property, vehicles, jewellery, artwork or similar 
• Details of any liabilities such as credit card debt or study and personal loans
• Evidence of your monthly living expenses through utility bills, bank or credit statements

Documentation To Acquire

While there is certainly a lot of documentation you need to supply when buying a home, there are several documents you must also be sure to acquire throughout the process. 

Legal 

While much of this is handled by your legal representative (solicitor or conveyancer) it is wise to be across this documentation as it is vital to finalising a sale and protecting yourself. 

Contract of Sale

The contract of sale is the primary document in any property transaction in Australia. It outlines the terms and conditions of the sale, including the sale price, settlement date, and any special conditions.

This contract is supplied to buyers by the selling agent and should be reviewed in detail by the buyer’s solicitor or conveyancer prior to signing and exchanging and before any deposit is paid.  

Building Contract

For a house and land package or new build, there will also be a building contract in addition to the contract of sale. This is often both a contract for the sale of land being built on as well as for the transfer of ownership of the home once built. 

This contract and its associated documents will contain important details regarding the terms and conditions of the build including:

• Building plans and design details
• Any land costs plus building contract costs (fixed price building contract), payment stages and other financials
• Agreed inclusions
• Any builder’s home warranty or insurance provisions
• Information about developer approval and how this will be arranged
• Services supplied, such as construction progress inspection reports and more. 

As with a contract of sale, a legal expert such as a conveyancer or solicitor should also be engaged to perform a comprehensive review before any money changes hands or anything is signed.   

Title Documents

Title documents confirm the legal ownership of the property and provide details such as the property boundaries, any easements, outstanding mortgages, caveats, or other legal issues affecting the property.

These documents are incredibly important and are typically obtained from the relevant state or territory’s land titles office by your chosen legal representative. 

Property 

Your conveyancer or solicitor may offer to arrange or direct you to book one of the following before finalising the sale. 

Building & Pest Inspection 

A building and pest inspection report is strongly recommended when buying an existing property. It is essential for assessing the structural integrity and overall condition of the property.

It may uncover any hidden defects or issues such as damp or termite damage that could negatively impact the property’s value or require costly repairs in the future.

Handover Inspection

In the case of a new build, a handover inspection takes the place of a pest and building report. 

Obtaining this documentation can help you identify and resolve any concerns you may have about your newly built home before taking possession. It also ensures all compliance certificates for the build have been obtained. 

This can save you from having to pay for these corrections yourself or buying a home that may have serious defects affecting its safe occupancy and value. 

Financial 

To finalise your loan, your bank may require an appraisal of your chosen property to be carried out. This is usually paid for within your loan fees and is arranged by your bank or lender in advance of settlement. 

Without this document, your loan may not be approved as it is necessary for determining whether the loan amount is equal to the value of the property in question. 

 

Simplify The Buying Process With Stop Renting Perth

Feeling overwhelmed by the prospect of so much paperwork? You’re not alone. 

At Stop Renting Perth, we do it all for you. We handle all the lengthy documentation and cut through the industry jargon helping to streamline and de-stress the entire process. We work with our clients to obtain the necessary documentation. From working with land developers through to conveyancing, we carry the load and take care of it all.

Through our house and land packages, we offer an easier path to home ownership that involves:

• A brand-new, turn-key home with a design and layout chosen by you  
• Competitive lending options to suit your circumstance
• Comprehensive, expert support and guidance through every stage including how to supply and acquire all documentation 
• Professional collaboration and communication with lenders, legal experts, government agencies and more on your behalf.

From your first consultation with us to the handing over of keys to your new home, we’re focused on helping you escape the cycle of renting sooner. We want to see you enjoying living in your own home without delay and with as few challenges as possible. 

To learn more about how we work or our house and land packages in Perth, book your obligation-free consultation call today.