Buying in Clovelly West: Deposit and Settlement Funds Checklist

When planning a purchase around Clovelly West, separate the deposit paid under the contract from the total cash needed to complete the purchase. A clear funds schedule helps you identify what is available now, what depends on another transaction and what still needs confirmation.

Brampton Finance helps buyers prepare their finance request and compare suitable home loans. This checklist focuses on organising funds and documents before committing to a property.

List each source of funds

Record savings, expected sale proceeds, any proposed family contribution and any equity you hope to access from another property. Note the amount, account holder, supporting document and date each amount is expected to be available.

Avoid counting the same money twice. If funds are needed for the contract deposit, show how that payment affects the balance remaining for settlement. Flag money held in investments or dependent on a sale so the required steps and timing can be checked.

Separate the purchase price from transaction costs

Prepare an itemised estimate covering the price, applicable transfer duty, legal work, inspections, lender fees, settlement adjustments and moving expenses. Ask the relevant advisers for transaction-specific figures, and retain a cash buffer for expenses after moving.

Show the proposed loan separately from your own contribution. Ask your broker to confirm the requested loan amount and any outstanding conditions before treating that figure as available settlement funding.

Explain family contributions early

If a family member is contributing, explain whether the proposal is a gift, a repayable loan or another arrangement. Ask what evidence the selected lender needs. Disclose any repayment commitment rather than presenting borrowed funds as savings.

If property is being offered as additional security, discuss that proposal separately and arrange appropriate legal advice for the people involved. Do not assume a cash gift, family loan and security guarantee are interchangeable.

Check the dates with your advisers

Ask your solicitor or conveyancer to confirm the contract deposit, payment dates, settlement arrangements and relevant conditions. Tell your broker about the proposed dates and any money that will become available only shortly before settlement.

If the purchase relies on selling another home, see the South Coogee buying-before-selling checklist. If considering temporary funding, discuss bridging finance before committing to that approach.

Prepare the loan evidence alongside the funds schedule

Keep current income records, loan statements, credit limits and living expenses ready. Use our application document checklist and review the conditions of any pre-approval. Conditional pre-approval does not guarantee final approval for the chosen property.

Compare home loan options for a purchase. If you already own a property and want to review an existing loan, use the separate Clovelly refinancing and offset guide.

Explore the Eastern Suburbs finance guides and suburb directory, or discuss your purchase with Brampton Finance on 02 9389 1077. We act as your broker; the selected lender makes the credit decision. General information only. Finance is subject to assessment and approval.