One in four Victorian properties carries a restrictive covenant
From 1,358 Victorian contracts of sale One in four Victorian properties carries a restrictive covenant You can buy the house you love and still...
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Below is a step-by-step plan to keep you ahead of the market.
Before you circle property listings, you should lock in written loan pre-approval and calculate the expected total cost of owning the property. Using a proper budget prevents last-minute panic and to signals to real estate agents that you are prepared!
TIP: check recent sales in the area (similar properties) to get a better idea on the market. Search auction clearance rates and consider if any local infrastructure plans could swing the value (such as road plans, public transport works and developments).
Get legal help earlyGreat outcomes are rarely solo efforts. Engage a property-focused law firm from the moment you spot a potential home. Our streamlined legal reviews flag hidden contract risks within 24 hours, which could be before your rival buyers have even found a solicitor. We thoroughly check the documents and translate legalese into plain English so you can act quickly and with confidence. |
You buy the property “as is” in its current state of condition and repair (including hidden defects).
Unless you are an experienced building inspector or professional, you might miss critical issues during your standard inspections.
Independent, professional reports can reveal structural issues, pest activity, and safety hazards you won’t spot yourself. They should be non-negotiable.
Don’t rely on vendor-provided inspections, as they may not tell the whole story (and you may not have any recourse if they are wrong).
Don't forget the basics
There is a range of basic due diligence that a purchaser needs to consider. Not everything is revealed in the section 32.
If the property is being sold at auction, all of this due diligence must be completed before you bid. Bidding at auction is unconditional, with no cooling-off period and no opportunity to add a 'subject to finance' clause.
If the property is being sold at auction, all of this due diligence must be completed before you bid. Bidding at auction is unconditional, with no cooling-off period and no opportunity to add a 'subject to finance' clause.
While others hesitate, Prepared buyers secure their dream homes.
The property market moves fast, but we move faster.
The information is general in nature and does not constitute legal advice. If you are buying or selling, please contact us to request legal advice.
From 1,358 Victorian contracts of sale One in four Victorian properties carries a restrictive covenant You can buy the house you love and still...
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