Property Checklist
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Pre-purchase
- ☐ Borrowing capacity assessed by broker
- ☐ Pre-approval obtained (if required)
- ☐ Deposit funds confirmed
- ☐ LVR confirmed
- ☐ Estimated purchase budget set
- ☐ Stamp duty calculated
- ☐ Upfront costs calculated (B&P, legal, valuation)
- ☐ Cash buffer maintained post-purchase
- ☐ Loan structure discussed (IO vs P&I, fixed vs variable)
- ☐ SMSF lending rules understood (if applicable)
- ☐ Mortgage broker appointed
- ☐ Conveyancer / solicitor engaged
- ☐ Accountant consulted (especially SMSF / investor)
- ☐ Financial adviser aligned (if applicable)
- ☐ Property manager identified (for rental appraisal)
- ☐ Insurance broker ready (building + landlord)
- ☐ Buyers agent appointed (if using one)
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Due Diligence
- ☐ Does this property match your strategy? (growth / yield / renovation / development)
- ☐ Budget incl. stamp duty + legals + buffers
- ☐ Target yield achieved?
- ☐ Cash flow impact (rates, insurance, PM fees)
- ☐ Exit strategy clear? (sell, hold, develop)
- ☐ Population growth
- ☐ Employment drivers nearby
- ☐ Infrastructure projects
- ☐ Vacancy rate
- ☐ Rental demand
- ☐ Comparable sales (last 3–6 months)
- ☐ Days on market
- ☐ % renters vs owners
- ☐ Council zoning & overlays
- ☐ Flood / bushfire / heritage overlays
- ☐ Structural issues
- ☐ Roof condition
- ☐ Stumps / slab movement
- ☐ Damp & mould
- ☐ Termites
- ☐ Windows/doors functional
- ☐ Hot water system age
- ☐ Electrical safety
- ☐ Plumbing leaks
- ☐ Cracks (monitor vs major)
- ☐ Title search
- ☐ Easements
- ☐ Covenants
- ☐ Zoning permitted use
- ☐ Section 32 / Vendor statement
- ☐ Special conditions
- ☐ Settlement period
- ☐ Finance clause
- ☐ B&P clause
- ☐ Early access clause (if needed)
- ☐ Existing lease reviewed (if tenanted)
- ☐ Rental appraisal (2 sources)
- ☐ Vacancy in suburb
- ☐ Tenant profile
- ☐ Council rates
- ☐ Water rates
- ☐ Strata (if unit)
- ☐ Land tax
- ☐ Insurance quote
- ☐ Property management fee
- ☐ Maintenance allowance
- ☐ Depreciation schedule potential
- ☐ LVR post-purchase
- ☐ Bank valuation vs contract price
- ☐ Borrowing capacity impact
- ☐ Interest rate buffer
- ☐ Offset or redraw strategy
- ☐ SMSF rules (if applicable)
- ☐ Zoning allows development
- ☐ Minimum lot size
- ☐ Setbacks
- ☐ Services available
- ☐ Easement impact
- ☐ Estimated build cost
- ☐ Feasibility stack up
- ☐ Council pre-app advice
- ☐ Flood mapping
- ☐ Bushfire mapping
- ☐ Mining subsidence
- ☐ Aircraft noise
- ☐ Crime stats
- ☐ Insurance availability
- ☐ Special levy risk (strata)
- ☐ Social housing
- ☐ Electric easement
- ☐ High voltage power lines
- ☐ Industrial area
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B & P – operational
- ☐ All internal doors open/close properly
- ☐ External doors lock properly
- ☐ Windows open/close properly
- ☐ Window locks working
- ☐ Floorboards/tiles not loose
- ☐ Stairs and handrails secure
- ☐ Built-in wardrobes open/close
- ☐ Garage door operates correctly
- ☐ Flyscreens intact
- ☐ Skirting boards intact
- ☐ Blinds/curtains intact and functional
- ☐ All light fittings working
- ☐ All light switches working
- ☐ Power points working (random test)
- ☐ Smoke alarms present and operational
- ☐ Exhaust fans working (bathroom/toilet)
- ☐ Ceiling fans working (all speeds)
- ☐ Outdoor lights working
- ☐ Switchboard condition noted
- ☐ Air-conditioner turns on
- ☐ Cooling function works
- ☐ Heating function works
- ☐ Remote control present
- ☐ No error codes
- ☐ Outdoor unit condition
- ☐ Filters condition
- ☐ Unusual noise or leaks
- ☐ Hot water system operational
- ☐ Water heats correctly
- ☐ Taps working
- ☐ Adequate water pressure
- ☐ No visible leaks
- ☐ Toilets flush correctly
- ☐ Shower drains correctly
- ☐ Bath drains correctly
- ☐ Laundry taps working
- ☐ External taps working
- ☐ Cooktop working (all burners/elements)
- ☐ Oven working
- ☐ Rangehood working
- ☐ Dishwasher working
- ☐ Exhaust fan operational
- ☐ Sink drainage
- ☐ No visible leaks under sink
- ☐ Microwave (if included) working
- ☐ Washing machine taps working
- ☐ Laundry trough drainage
- ☐ Floor drain (if present)
- ☐ Power point safe
- ☐ Vanity taps working
- ☐ Toilet cistern filling correctly
- ☐ Shower screen intact
- ☐ No cracked tiles
- ☐ Waterproofing signs of failure
- ☐ Exhaust fan operational
- ☐ Mirrors secure
- ☐ Smoke alarms compliant
- ☐ Gas bayonets secure
- ☐ Electrical safety switch present
- ☐ No exposed wiring
- ☐ Hot water tempering valve (if applicable)
- ☐ Roof condition
- ☐ Gutters not blocked
- ☐ Downpipes connected
- ☐ Stormwater drainage working
- ☐ Fencing secure
- ☐ Gates open/close
- ☐ External steps safe
- ☐ Shed condition
- ☐ Clothesline secure
- ☐ Active termites
- ☐ Termite damage
- ☐ Risk zones identified
- ☐ Subfloor accessible
- ☐ Roof cavity accessible
4
SMSF property purchase
- ☐ SMSF established
- ☐ Corporate trustee in place
- ☐ Trust deed allows property
- ☐ Investment strategy updated for property
- ☐ Bare trust (custodian trust) drafted
- ☐ Correct trustee names confirmed
- ☐ Bank SMSF lending approved in principle
- ☐ Property is NOT from related party
- ☐ Property is NOT lived in by member or relative
- ☐ Property is NOT used by related business
- ☐ Residential property (unless business real property)
- ☐ Arms-length transaction
- ☐ No personal use now or future
- ☐ Sole purpose test satisfied
- ☐ Buyer name = Bare trustee
- ☐ SMSF named correctly
- ☐ No variation clause risk
- ☐ Finance clause included
- ☐ B&P clause included
- ☐ Settlement timeframe suits SMSF lender
- ☐ No early access before settlement
- ☐ No renovations before settlement
- ☐ No improvements using borrowed money
- ☐ No personal labour
- ☐ No short-term stays
- ☐ No display home incentives
- ☐ No furniture packages
- ☐ No developer rebates
- ☐ No off-the-plan unless lender approved