Buying a property is one of life’s biggest milestones. But if you’re a first-home buyer or haven’t bought in a while, you may find yourself asking: what is the process of buying a house in Australia?

The truth is, the real estate process can feel complicated, but when you break it down step by step, it becomes much clearer. Most purchases follow a similar property purchase process, even though the exact timing and paperwork can vary by state and by whether you buy at auction or by private treaty. 

Here’s a practical guide to the property purchase process, from finance to settlement ,so you can move forward with confidence.

Step 1: Get your finances in order

Before you even start looking at properties, it’s essential to:

• Save a deposit (typically 20% of the purchase price, though some buyers use smaller deposits with lender’s mortgage insurance).
• Get pre-approval from your lender to understand your borrowing power.
• Factor in the hidden costs (stamp duty, legal fees, inspections, moving costs).
• Check whether you are eligible for first home buyer schemes, stamp duty concessions or grants in your state or territory. These can make a real difference to what you can afford.
• It is also wise to stress test your budget against potential interest rate rises so that your repayments stay manageable over the long term.

Step 2: Start house hunting

Once you know your budget, you can begin your property search. At this stage:

• Decide on your preferred location and property type
• Attend open homes and inspections
• Research recent sales in the area to gauge value

During this stage of the real estate process, keep notes on each property you inspect and ask agents about strata fees, council rates and any known issues with the building.

Step 3: Make an offer

When you’ve found the right property:

• Submit an offer directly to the real estate agent or through auction bidding
• If accepted, you’ll typically pay a holding deposit while contracts are drawn up

For private treaty sales, there is usually a short cooling off period in most states, though rules and timeframes vary. Properties bought at auction are typically unconditional with no cooling off. Your solicitor or conveyancer can explain how this works in your location before you sign anything.

Step 4: Engage a lawyer or solicitor

The legal side is where things get serious. Contracts must be reviewed carefully and the conveyancing process begins.

With Bark, you can find trusted lawyers, solicitors and notary publics who handle:

• Reviewing the contract of sale
• Advising on terms and conditions
• Managing the transfer of property title
• Liaising with banks, councils and other authorities

Having a property lawyer or conveyancer in your corner early in the property purchase process can help you spot contract issues, negotiate better terms and avoid costly surprises at settlement.

Step 5: Conduct inspections

Before you exchange contracts, it’s wise to book inspections, including:

• Building inspection
• Pest inspection
• Strata report (if buying an apartment)

While these add upfront costs, they can save you from expensive surprises later. Some buyers choose to organise inspections earlier, particularly in competitive markets.

In many private sales, your lawyer can ask for the contract to be conditional on satisfactory building and pest reports, giving you a chance to renegotiate or walk away if serious issues are found.

Step 6: Exchange contracts

Once both parties sign the contract of sale, the buyer pays a deposit (usually 10%). At this point, you are legally bound to proceed with the purchase, subject to any conditions agreed upon.

Your solicitor will confirm key dates for finance approval, cooling off (if applicable) and settlement and will keep you updated as each stage is completed.

Step 7: Settlement

Settlement usually occurs 4–6 weeks after the exchange of contracts. This is when the balance of the purchase price is paid, the property title is transferred and you get the keys.

• You can use Bark to arrange house cleaning for your new home or end of tenancy cleaning if you’re moving out of a rental.
• You can also use Bark to arrange both legal support and cleaning services around settlement so that contracts, keys and cleaning all line up on the same day.

Step 8: After settlement

Once you move in, it’s time to get practical:

• Update your driver’s licence and address with Medicare, ATO, banks and utilities
• Arrange home and contents insurance
• Consider updating your will as your property is now a major asset. With Bark, you can connect with wills and estate planning experts to secure your future.

Many buyers also check whether their mortgage lender requires any particular level of insurance cover and ask a lawyer to review their will, enduring power of attorney and superannuation nominations at the same time.

Final word

If you’ve ever wondered what the process of buying a house in Australia involves, it really comes down to preparation, patience, and having trusted professionals to guide you along the way. 

From finance and contracts to settlement and moving in, the real estate process is much smoother when you plan for each stage. And when you need professional support ranging from lawyers, cleaners or estate planners, Bark helps you hire the right expert, every time.

Treat this property purchase process as a checklist you can work through with your team of professionals, rather than something you have to figure out alone.