Buyers · South Australia

Buying a home in South Australia

12 min read Updated May 2026 Reviewed by Mohammad Jamili

For most South Australians, buying a home is the largest financial commitment of their life — yet it is too often signed off without legal advice.¹ This guide explains how property contracts, the Form 1, cooling-off rights, deposits and settlement actually work under SA law.

Types of property title in SA

Broadly, a home in South Australia is either a freestanding dwelling on its own block of land, or a unit on shared land — held under Torrens Title, Strata Title or Community Title.¹ The type of title determines what you actually own, what is shared, and what rules govern your day-to-day use of the property. If you are buying a unit, see our dedicated guide to strata and community titles in SA.

Two older forms — moiety title and company title — still exist for some maisonettes and attached cottages, but most lenders are reluctant to finance them and the majority have since been converted to strata or community title.¹

The Torrens Title system

Title to land in South Australia is governed by the Real Property Act 1886 (SA).² The Torrens system replaced the old English chain-of-title approach with a single central register: title passes upon registration, and the State guarantees the correctness of the register.¹

Each parcel of land is identified by a unique register-book volume and folio. When a lawyer or registered conveyancer acts for you, they must comply with statutory protections introduced for electronic conveyancing, including:¹

• Verification of identity (VOI);
• Verification of authority to enter into the transaction;
• A signed authority for the practitioner to sign documents on your behalf;
• Lodgement of Priority Notices under Part 13A to protect your interest before settlement;² and
• Optional enrolment in the free Title Watch service to alert you to dealings on your land.

The role of the real estate agent

It is critical to understand that the agent works for the vendor and is paid commission on the sale.¹ Their duty is to obtain the best price for the seller — although they are also required to deal fairly with you. Agents, sales representatives, property managers and auctioneers must all be registered under the Land Agents Act 1994 (SA);³ conveyancers are registered under the Conveyancers Act 1994 (SA).⁴ You can verify any of them on the Consumer and Business Services Online Licensing Register.

Signing the contract

By law, any agreement for the sale and purchase of land must be in writing — whether by private treaty or at auction.¹ Most agents use the standard form contract approved by the Real Estate Institute of South Australia; some practitioners use a Law Society of South Australia form. Either way, every clause should be reviewed by someone with specialist knowledge of SA real estate contracts, particularly if any term has been deleted or added.

Under section 21 of the Land and Business (Sale and Conveyancing) Act 1994 (SA),⁵ the agent must give a copy of the signed contract to you. However, the contract is not binding until it is accepted by the vendor and a Form 1 has been served on you.

How will you own the property?

Before you sign, decide how the property will be held. The choice has long-term consequences for estate planning, tax and family law.¹

Joint tenants

Co-owners hold the property in undivided shares. If one dies, the other automatically becomes the sole owner under the right of survivorship — the survivor's interest cannot be bequeathed by will. Suitable for most spouses and de facto couples.

Tenants in common

Each owner has a quantifiable share (equal or unequal) which they can sell, mortgage or leave by will. Useful where contributions are unequal, for blended families, or for investment partners.

Sole ownership

Only one party is named on the title. If the non-titled partner is contributing financially or as a spouse or domestic partner, they should obtain independent legal advice before settlement.

Fixtures, fittings and chattels

Generally a fixture or fitting is included in the sale of the land, but borderline items cause more disputes than almost any other clause in the contract. To avoid argument, the contract must list every item that is included or excluded — light fittings, dishwashers, sheds, pool equipment, solar systems, smart-home devices and so on. If a chattel is still under finance, it should be paid out by the vendor before settlement so clear title passes to you.¹

Making an offer

An offer must be communicated in writing via the agent. Section 24A of the Act prohibits underquoting: any advertised price range must not exceed 110% of the lower figure, and qualifying words or symbols (e.g. "$400,000+", "mid-$400,000s") are not permitted.⁵ Where you have made a written offer to a vendor's agent, regulation 19 of the Land and Business (Sale and Conveyancing) Regulations 2025 (SA) requires the agent to pass it on within 48 hours, even if it sits below the vendor's reserve.⁶

Deposit and the purchase price

SA law allows only a token maximum deposit of $100 on signing, which is forfeited if you exercise your cooling-off rights.⁵ The balance of the deposit (typically 10% of the price) is paid after the cooling-off period expires. The purchase price cannot be paid in more than three instalments, and rent-to-buy schemes are prohibited in SA under section 6 of the Act.⁵

The Form 1 (Vendor's Statement)

The Form 1 is the cornerstone disclosure document for any residential sale in South Australia. After the contract is signed, the vendor (usually via the agent) must serve you a Form 1 under section 7 of the Act.⁵ It contains:⁶

• Part A — details of the parties to the contract;
• Part B — your cooling-off rights;
• Part C — certification that the Form 1 contains the required particulars;
• Part D — certification that those particulars are accurate;
• Schedule — mortgages, charges, encumbrances, zoning, overlays, and (since 19 March 2021) information about Aluminium Composite Panel Cladding and the SA Planning Code under the Planning, Development and Infrastructure Act 2016 (SA).⁷

If the Form 1 is inaccurate or incomplete, it is defective — and the cooling-off period does not begin to run until a corrected Form 1 is served. A purchaser who has settled with a defective Form 1 may apply to set aside the contract or claim damages.¹

Your 2-day cooling-off period

Under Schedule 1 of the Land and Business (Sale and Conveyancing) Regulations 2025 (SA), you have until the end of the second clear business day after the Form 1 is served to cancel the contract.⁶ Notice can be given in person, by registered post, by fax or by email — the time the notice is sent is the time it is deemed given. No reason is required.

Buying at auction

Auction contracts are unconditional. Sections 24K to 24O of the Act govern bidder registration, vendor bids (a maximum of three, each announced before being taken), dummy bidding (prohibited; up to $20,000 fine) and collusion.⁵ The Form 1 must be available for inspection at the agent's or auctioneer's office for three business days before the auction, and at the auction venue for at least 30 minutes before bidding opens.⁸

Special conditions

A contract without special conditions is unconditional — both parties are bound to settle or face a damages claim.¹ Common special conditions include:

• Subject to finance — specifies the lender, interest rate and finance approval date;
• Sale of the purchaser's home — should align settlement dates to avoid bridging costs;
• Satisfactory building and pest inspection — many vendors will not accept this clause given the two-day cooling-off window already provides time;
• Repairs or removal of items — the standard of work should be very clearly described.

If a special condition is not met, what happens depends on the wording of the clause. Get advice before the deadline lapses, not after — once a contract becomes unconditional, you risk losing your deposit and being sued for any shortfall on resale.

Caveats and Priority Notices

A caveat (Latin for "beware") under section 191 of the Real Property Act 1886 protects an unregistered interest in land — for example, an equitable interest where one spouse is not on the title.² A Priority Notice under Part 13A of the Act reserves priority for an unregistered instrument (a transfer or mortgage) and lapses after 60 days unless extended or completed by registration.² Both are critical tools in protecting your interest between contract and settlement.

Settlement

Settlement is when the balance of the purchase price is exchanged for the certificate of title and possession of the property.¹ Typical settlement is 30 days from the contract date, though up to 90 days is common. Since 2016, most South Australian transactions settle electronically through PEXA — your conveyancer or solicitor verifies your identity and signs documents on your authority.

At settlement, your representative will:

• Confirm clear title (no surprise mortgages, caveats or charges);
• Adjust rates, water and emergency services levies between the parties;
• Discharge the vendor's mortgage and register your incoming mortgage;
• Register the transfer with Land Services SA; and
• Authorise release of keys.

After settlement

If you find that something does not work as expected, your remedies are limited unless the agent or vendor specifically misrepresented the property's condition.¹ Buyers of recently built or renovated homes have additional rights for five years under the Building Work Contractors Act 1995 (SA).⁹ If items have been removed that were included in the sale, or items left behind, the Unclaimed Goods Act 1987 (SA) sets out the proper process for recovery or disposal.¹⁰

Frequently asked questions

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