Congratulations - getting prequalified is a big milestone in your property journey. It means you've taken the first real step toward owning your home. But here's something many buyers don't realise:

👉Getting approved is only half the journey - structuring your offer correctly is what protects you.

Before you sign an Offer to Purchase (OTP), there are a few critical checks and clauses that can save you from costly mistakes, delays, or even failed transactions.

✅ Your Buyer Protection Checklist

1. Approved Building Plans

Always confirm that the property has approved municipal plans that match what's physically on site.

Unapproved additions - like extra rooms, garages, or boundary walls - can:

  • Delay transfer
  • Cause issues with the bank
  • Even result in bond rejection

2. Electrical Compliance Certificate (COC)

The seller must provide a valid electrical compliance certificate.

If there are defects:

  • They must be fixed before registration
  • Not after you've taken ownership

3. Additional Compliance Certificates

Depending on the property, you may also need:

  • Beetle certificate
  • Gas certificate
  • Electric fence certificate

These vary by region and property type - and it's important to confirm upfront.

4. Fixtures & Fittings

Be very clear on what stays and what goes. Think:

  • Light fittings
  • Blinds
  • Appliances
  • Curtains

If it's not written into the agreement, you can't assume it's included.

5. Occupational Rent

If you move in before transfer: You'll likely pay occupational rent. Similarly, if the Seller stays after registration: They will need to pay occupational rent.

Make sure:

  • The amount is clearly agreed
  • The start date is defined

An 'occupational on registration' note is always tricky as the conveyancer cannot always control the exact date of registration. It's better to have an occupational rent amount agreed upfront.

6. Levies & Body Corporate (for complexes)

If you're buying in a complex or estate, request:

  • Latest levy statement
  • Financial statements
  • Conduct rules

This helps you understand:

  • True monthly costs
  • Financial health of the scheme
  • Any hidden risks - like rules-based exclusive use areas and policies on pets and noise

7. Rates & Taxes

Always check the latest municipal account. You want clarity on:

  • Monthly costs
  • Any arrears
  • Possible increases

Critical Clauses That Protect You

This is where many buyers get caught out - the wording in your offer matters.

✔ Bond Approval Clause

Your offer should always be subject to bond approval within a set timeframe.

👉 This protects you if finance is not approved.

✔ Sale of Existing Property Clause

If you need to sell your current home first:

👉 This must be included as a condition in your offer.

✔ Due Diligence Clause

This gives you a few days to:

  • Inspect the property properly
  • Bring in professionals if needed

👉 Without this, once you sign - you're locked in.

✔ Compliance Certificates Clause

Ensure the seller is responsible for:

  • Providing all required compliance certificates
  • Fixing issues before transfer

Final Thought

Buying property is one of the biggest financial decisions you'll ever make.

👉 A well-structured offer is just as important as getting the best interest rate.

This is where having the right team matters. At Phoenix Bonds, we work closely with attorneys to ensure your deal is structured correctly from the very beginning - so before you sign anything, feel free to run it past us.