Australian House and Land Package Buying Process (2025 Update)

1. Reserve a Property
Once buyers have chosen the land and house they are happy with, they pay a holding deposit (generally A$1,000 – A$5,000) so the real estate agent can apply to the developer to reserve the land. If a buyer changes their mind before the contract is signed, this holding deposit is refunded in full; if the contract is signed, it forms part of the deposit.

2. Sign the land contract and building contract
The developer/builder provides the land and building contracts to the buyer or the buyer's solicitor. The buyer signs after consulting their own solicitor and fully understanding the contract; at the same time, the developer/builder signs the relevant contracts, and the purchase contract then comes into effect.

3. Apply for FIRB approval
Overseas buyers submit a purchase application to Australia's Foreign Investment Review Board (FIRB). This step applies only to overseas buyers. 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, see - 

Updated Australian Foreign Investment Review Board (FIRB) Fees for the 2025–2026 Financial Year

4. Pay land and building deposit
Within the timeframe set out in the contract (generally 7 or 14 calendar days), buyers must pay 5% – 10% of the land price as a deposit, which must be paid into the developer's solicitor's trust account. At the same time, a 5% building deposit is paid into the builder's designated account. Overseas clients who require finance can borrow up to 80% of the total value of the land and building contracts, and Aobo Realty provides assistance with loan applications.

5. Land settlement
Once the land title has been registered, the land settlement process takes place. The buyer pays the balance of the land price along with land stamp duty, and at this point the land title is transferred into the buyer's name. This process is completed independently by the developer's and the buyer's solicitors.

6. Apply building permit
Once the builder has received confirmation that the land has successfully transferred to the buyer, they arrange the relevant building approvals and carry out preparation work. This process generally takes around one month.

7. Start building and pay by installment
The construction of an Australian house is mainly divided into five stages: slab, frame, lock-up, fixing and complete. The building contract sets out in detail the amount payable at the end of each stage. At the completion of each stage, the builder carries out an inspection for that stage and issues the corresponding invoice; once the work passes inspection, the buyer pays the builder the amount due for that stage in accordance with the contract.

8. Final inspection
Once the house is complete, the builder invites the buyer or the buyer's representative to inspect it. Any issues identified during the inspection are recorded, and the builder then arranges rectification. If buyers would like a formal inspection report prepared by a professional building inspector, Aobo Realty can help arrange this.

9. House handover

The buyer pays the balance of the property price, the builder and the buyer/property manager complete the handover, and the buyer can move into their new home. For investment properties that are not owner-occupied, Aobo Realty then arranges leasing.