An important step in the home buying journey is to prepare for the purchase and understand the requirements before you go ahead. Here is a checklist for some of the key things you may want to cover off:Approval in Principle – Confirm that you have a valid Approval in Principle for your loan. Contract of Sale – Consider ensuring a copy of the Contract has been reviewed by a solicitor/conveyancer. Cooling-off period – Talk to your solicitor to be sure you understand the conditions of the sale. Most states have a cooling off period, except for sales at auction which generally do not have any cooling off period.