Buying real estate may be like getting on a rollercoaster of emotions for a buyer. This is why it pays to know your way around the requirements and processes involved in buying a house, townhouse or an apartment. When it comes to finding that perfect ‘home’, it helps knowing which specific searches you can do to ensure you make a fully informed decision about your real estate purchase. This article lists the searches we recommend you make on the property you are considering buying…
Important Searches You Need to Make in a Queensland Purchase Matter
Part of making sure that you are making the right decision when you close a deal on a home is ensuring that you are aware of all the ‘white noise’ that is happening in the background. This means that you need to do searches to give you information about what you can expect when the property will finally be transferred to your name.
1 – Verify Identity
One of the most essential searches that needs to be done is to verify the identity of the person selling the property. Remember that buyers and sellers must upload information about their identity to transact the property.
2 – Council Rates
The rates that need to be paid by the homeowner… Examples of council rates include (but are not limited to): waste management fees, suburban care, other miscellaneous fees connected with owning a home. Conducting a search will allow us to find out, if all these fees have been paid by a previous homeowner and are up-to-date.
If not, you may be faced with the responsibility of paying them (along with any penalties) when the title gets transferred to your name.
3 – Land Tax Certificate
Doing a search on the land tax certificate will give you information as to the land tax that has been paid for the land over the years. It will also allow you to find out if there are any outstanding arrears from previous years.
4 – Pre-purchase Reports
These reports will help you gain an understanding of the full value of the property, tax depreciation, and the physical condition of the property, among other things.
5 – Contaminated Land Searches
This type of search will provide information on contaminated (and potentially contaminated) land areas in Queensland. The result of this search may help you make an informed decision as to whether or not you will continue pushing through with the purchase or, if you want to move on to the next property you are considering, instead.
While this is not, by any means, an all-inclusive list of the critical searches that needs to be made for a property that is being purchased, these are some of the most crucial ones that need to be given top priority – and working with an experienced and trusted conveyancer will make a difference. Getting into contact with a reliable law firm will help you find the best conveyancer to help you with all this nitty-gritty.
Should you need help with conveyancing and buying a home, come to Bickell and Mackenzie. We are a well-known family-owned law firm within the Redlands area. We specialise in Conveyancing (both buying and selling houses, commercial businesses and retirement homes), Wills and Estates Administration and other areas of law. Contact Bickell & Mackenzie conveyancing lawyers today.