Due Diligence When Buying a Property
Buying a property is a significant expense. Acquisition and disposal costs mean that if you make a mistake it can be a very costly error. A skilled solicitor is an essential person to have on your team. My solicitor has personally saved me thousands of dollars in identifying issues with the purchase contract or in relation to other aspects with the properties I have been negotiating on.
You should also consider property risk insurance also known as title insurance. Property risk insurance protects you against legal risks that can threaten the ownership of your property, or affect your right to occupy and use your land.
Ultimately you need to ensure you do your own due diligence: Consumer Affairs Victoria recently put out a checklist for buyers. You can locate it at: home buyers due diligence Check List.
For further information you are welcome to contact me.