Buyers Checklist
Ask the real estate agent:
- What was the last price the property sold for?
- What will the likely rental return be?
- What are the current annual rates?
- Are there heritage or other restrictions to renovations/changes made?
- Has council checked that current renovations are legal?
- Have building and pest inspections been done?
- What is state of plumbing and wiring - is it documented?
- Has a title search been done?
- How long a settlement period are sellers requesting?
Re: Houses
- Zoning;
- Size of block;
- Floor space ratio (building area to total land area);
- Floor space currently used;
- Any plans for building on adjacent properties.
Re: Units
- If building is company title, is leasing permitted;
- Is building fire rated or being arranged;
- Current levies;
- Any special levies and for how long;
Ask Solicitor / Conveyancer
- How much do you charge - what must I budget for
- Does this include disbursements
- Does title of property affect legal cost?
- Do you charge a storage/holding fee to keep documentation?
- Are you licensed to do this work?
- Do you handle all correspondence once sale has commenced?
- What are your working hours?
Other Property Buyers Tips
Choosing a Property
The Costs of Buying
Tax Tips for Rentals
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