Conveyancing - The importance of property searches

When purchasing your property it is important that searches are carried out to check that the seller has met their disclosure obligations, that warranties in the contract are correct and to obtain the information required to assist in your conveyance. It is important to ensure that all searches relevant to the purchase have been considered, and that the appropriate searches are conducted at the correct stage of the conveyancing transaction.  

 

Ideally you should consider conducting searches in advance of signing your purchase contract or prior to the contract becoming unconditional to ensure the best understanding of the property you are signing up to purchase before being ‘locked in’ to settle.   

 

Certain searches should be conducted at the start of your conveyance and others will be conducted over the course and at the end of the conveyance. Although it is ultimately your decision as to when to conduct the searches, we recommend you have us carry out searches as soon as possible so that you are aware of your legal obligations and rights before they possibly expire and are well informed of the condition of the property.  

 

Common points to consider about your property purchase (although not limited to those listed) are the accuracy of the lot’s position, investigating the actual and surrounding location and whether there are any current or future developments planned, and investigating any illegal or incomplete building or extension works to ensure final approvals are in order.  

 

You should speak to your solicitor to start to look at which search options are necessary for you and discuss any property concerns or enquiries you wish to make to ensure that the results will not affect your purchase and any current or future plans you have for the property.   

 

As your solicitor we will conduct all initial searches on your behalf and then carry out further searches during the course of the conveyance. 

 

If you wish to obtain a copy of our Search Cost Matrix prior to signing your contract to start looking at which property investigations are available and recommended to be made then please contact Libby Dessaix on (07) 3236 0001 for a FREE complimentary copy of the Matrix relevant to the area your property is located in (applies for all suburbs located within Queensland).