Ensure you know who protects your money in case your transaction never gets finalised.

Property transaction costs, which can include transfer duty, bond registration and legal fees, as well as moving expenses, are often accepted as the grudge spend when buying a property.

But for many, the biggest upfront financial exposure is the deposit. This is the money paid long before the property is registered in your name, and long before you have the comfort of knowing the transaction has been completed.

You may spend months worrying about bond approvals, interest rates and whether you can afford the monthly repayments on a new home. Far less attention is paid to a more immediate risk: what happens to the money you put down as a deposit if the property transaction never reaches registration?

Jackie Smith, CEO of Buyers Trust, says buyers often assume that once an offer has been signed, the transfer process is linear and guaranteed. "But the reality is that many transactions hit obstacles long before registration takes place," she cautions.

Obstacles can include delayed bond approvals, problems with compliance certificates, disputes over fixtures and fittings, missed deadlines, or disagreements over the terms of the contract. In some cases, a buyer or seller may walk away under the conditions set out in the...