A contract to buy a home is mostly standard wording, with a handful of terms that matter a great deal. The trouble is that the important parts don’t look important. A date in a schedule, a short special condition or a missing inclusion can decide what happens if anything goes wrong.

This guide walks through the parts we read first when a buyer brings us a contract, and explains why the order you do things in matters as much as what you check.

Ask for the contract early

Most buyers see the contract for the first time when the agent asks them to sign it. By then the price is agreed, everyone is keen to move, and there is pressure to sign that day. Ask for a copy as soon as you are seriously interested in a property, or at the latest when you make an offer.

Agents are used to the request, and a seller with nothing to hide rarely minds. Having the contract a few days early gives you time to read it, ask questions and arrange any checks before your negotiating position disappears.

What to check first

A residential contract can run to dozens of pages, but a few parts carry most of the risk. These are the ones to read before anything else.

The title and the boundaries

The legal description tells you exactly what you are buying. Check that the address, lot or parcel number and boundaries match the property you inspected. Look for anything registered on the title: easements that let others cross the land or run pipes through it, covenants that limit what you can build, and any mortgages or caveats the seller must clear before settlement.

If a shed, fence or extension sits on the boundary line, ask whether it was approved. Unapproved work can become your problem the day the property becomes yours.

Inclusions and exclusions

Fixtures usually stay with the property, but “usually” is not a contract term. Check that the contract lists what you expect: appliances, light fittings, window coverings, the garden shed, the pool equipment. If something you were promised at the inspection isn’t written down, assume it may leave with the seller.

Every date in the schedule

• The date the deposit is due, and how much it is.

• Any deadline for finance approval, and what happens if your lender is slow.

• Any deadline for building, pest or other inspections.

• The settlement or closing date, and whether it can move.

• Any date by which the seller must provide documents or finish repairs.

Put every date in your calendar the day you sign. Missing a finance or inspection deadline can mean losing the right to withdraw, even if the problem you were worried about turns out to be real.

Special conditions

Special conditions are the seller’s additions to the standard form, and they are where risk tends to move from the seller to you. Common examples include a shortened settlement period, a clause saying you accept the property “as is”, a higher penalty for late settlement, or a requirement to release the deposit to the seller early. None of these is unusual on its own. Together they can leave a buyer with very little protection.

Why timing matters

Before you sign, almost everything is negotiable. A wrong inclusion is a one-line change and an unrealistic deadline can be moved. A seller who wants the sale will usually agree to reasonable requests, because the alternative is finding another buyer.

Once the contract is binding, the same fix needs the seller’s agreement, and they no longer have a reason to give it. Some places give buyers a short cooling-off period, but it is often brief, may cost a fee to use, and doesn’t apply to every kind of sale. It is a safety net, not a plan.

If you’re buying at auction

At auction there is usually no cooling-off period and no chance to add conditions on the day. The contract is the one on display, and the winning bidder signs it as it stands. Have it reviewed in the week before, arrange your finance and inspections in advance, and bid knowing exactly what you are agreeing to.

Questions worth asking the agent

• Has the seller had any offers fall through, and why?

• Are there any approvals, notices or disputes affecting the property?

• Which items are definitely included, and which are not?

• Is the seller flexible on the settlement date?

• Can I see the reports the seller already has, such as a building or strata report?

Write down the answers and the date you were given them. If an answer matters to your decision, ask for it to be reflected in the contract.

What a contract review covers

1. We check the title and any registered interests against what you were told.

2. We read the special conditions and explain, in plain words, what each one changes.

3. We list every date and deadline, and flag any that look unrealistic.

4. We suggest the changes worth asking for, and draft the wording if you want them.

5. We tell you clearly whether we would sign it as it stands.

Most reviews take a day or two, and we quote a fixed fee before we start. If the property is going to auction or there is an offer deadline, tell us when you send the contract and we will work to it.

When to call us

The best time is before you make an offer, when every option is still open. The next best is the moment the agent sends you the contract. If you have already signed, call us the same day: some problems can still be fixed during a cooling-off period or before conditions fall away, but the window is usually short.