Buying basics
Property buying glossary: key terms explained
Plain-English definitions of the property terms you will encounter when buying a home in Victoria.
11 June 2026·10 min read
Plain-English buying basics guides for Australian property buyers, from Unstated.
Plain-English definitions of the property terms you will encounter when buying a home in Victoria.
Australian property contracts are full of standard terms, and a few non-standard ones that can cost you. Here are the red flags to go through with your conveyancer before signing.
When two or more people buy property together in Victoria, they need to choose how to hold the title. Joint tenancy and tenants in common work very differently, especially when one owner dies.
Most Victorian properties are sold by either private treaty or auction. The two processes work very differently, and knowing which you're dealing with changes how you prepare.
When you buy a property that already has a tenant, the tenancy carries over to you as the new owner. Here's what that means in practice and what to check before you sign.
Heritage overlays in Victoria restrict what you can do to a property. Here's what the overlay means in practice, what requires a planning permit, and what buyers planning renovations should check.
Asbestos-containing materials were widely used in Australian homes up to the mid-1980s. Here's where it's commonly found, what the risks actually are, and what to do as a buyer of an older property.
The three main residential property types in Victoria have different ownership structures, costs, and constraints. Here's what distinguishes them from a buyer's perspective.
Every Victorian property sale comes with a Section 32, a vendor's statement legally required before contract signing. Here's what it contains, what to look for, and why it matters.
Buying off-the-plan can offer real advantages including stamp duty savings, but you're buying something that doesn't exist yet. Here's what to look for in the contract, the developer, and the project itself.
A walk-through is more than a vibe check. Here's a structured checklist of what to actually look at when you inspect a property, beyond the agent's polish.