The Decision
A first home can use much of your savings and mean years of repayments. Before paying a booking amount, check the budget and the property's papers.
Check Before You Proceed
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Have your own lawyer check ownership, claims and the seller's right to sell. Ask about approvals and completion or occupancy documents where needed.
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For projects that need registration, verify details with the state real-estate regulator. Registration still leaves other legal checks for you to complete.
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Add stamp duty, registration, maintenance, brokerage and essential interiors. Don't base your budget only on the price quoted by the seller.
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Check the down payment and all monthly loan payments against income. Leave money for emergencies, repairs and possible delays.
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Read delivery, cancellation and refund terms before paying. Visit the home and neighbourhood yourself, and confirm what the quoted price includes.
Common Traps
Trusting a broker's assurance that papers are clear. Assuming prices can only rise. Treating loan approval as proof of legal safety, or paying before reading refund conditions.
Pause If...
Papers are missing, important promises aren't written down, the seller resists independent checks, or buying would leave you with almost no savings.
Never Ignore
Getting a booking amount back can be difficult. Check the seller's rights and cancellation terms before making a significant payment.
Final Reminder
Before paying, be clear about both the property and the financial commitment.