Buying Off-the-Plan Property in Australia (Apartments and Townhouses): The Purchase Process (Updated 2025)
1. Reserve a property（Reserve a property）
Once buyers have chosen a property they are happy with, they pay a holding fee (generally A$1,000 – A$5,000) so the agent can request that the developer reserve the property for them. If the buyer changes their mind before the contract is signed, this holding fee is refunded in full; if the contract is signed, the holding fee forms part of the deposit. For overseas buyers, Aobo Realty will first assess your financial capacity to determine the type and price range of property you can purchase.
2. Sign the contract（Sign the contract）
The developer provides the purchase contract to the buyer or the buyer's solicitor. The buyer signs after consulting their own solicitor and fully understanding the contract; the developer also signs the contract and provides the buyer with a copy signed by both parties, at which point the purchase contract takes effect.
3. Apply for FIRB approval（Apply for FIRB approval）
Overseas buyers submit a purchase application to Australia's Foreign Investment Review Board (FIRB). This step applies to overseas buyers only. From July 2023, FIRB applications use the latest system, and this process is generally completed with the assistance of the buyer's solicitor.
For details, please see -
Updated Australian Foreign Investment Review Board (FIRB) fees for the 2025–2026 financial year
4. Pay a 10%–20% deposit（Pay 10% -20% deposit）
The buyer must pay 10% or 20% of the purchase price as a deposit within the timeframe set out in the contract (generally 7–14 calendar days). This deposit must be paid into the developer's solicitor's trust account. The deposit is only paid to the developer as part of the purchase price at settlement, fully protecting the buyer's interests.
5. Construction（Construction）
During the construction period, the buyer is not required to pay any further costs.
6. Home loan preparation（Home loan preparation）
Three months before handover, Aobo Realty will assist clients with preparing and submitting their loan documentation and application.
7. Final inspection（Final inspection）
Once the property is completed, the developer will invite the buyer or the buyer's representative to carry out an inspection. Any issues identified during the inspection will be recorded, and the developer will then arrange for them to be rectified. If the buyer requires a formal inspection report from a professional building inspector, Aobo Realty can help arrange this. If any issues arise within three months of settlement being completed, the developer will also be responsible for repairs in a timely manner. At the same time, the developer registers the title for the project.
8. Warranty and maintenance（Warranty and maintenance）
The quarterly Body Corporate Fee already includes building insurance, so there is no need to pay for it separately. The interior fixtures covered here include the dishwasher, oven, rangehood and cooktop, which all carry a three-year manufacturer's warranty and two years of government-mandated insurance, giving a total warranty period of five years.
9. Settlement（Settlement）
On the day of settlement, the buyer pays the balance of the purchase price (excluding the loan) to the developer, and the buyer's solicitor liaises with the developer's solicitor to complete the final settlement formalities. The buyer can then move into their new home. For investors who will not be living in the property, Aobo Realty can arrange property management, including leasing, maintenance and more.