Buying property is a major decision. A few checks before you commit can help you understand what you are buying.
For most people, buying property is one of the largest financial decisions they will make. Careful checks before you commit can help you avoid unpleasant surprises.
Confirm who owns the property
Establish that the person selling is entitled to sell, and that the description of the property in the documents matches what you have seen on the ground.
Ask about existing claims or restrictions
Find out whether there are any charges, disputes, restrictions or third-party interests affecting the property.
Understand the sale terms
Check the price, payment schedule, deposit, completion date and what happens if either side does not perform.
Look at the documents, not just the promises
Verbal assurances are difficult to rely on. Make sure important points are recorded in writing in the agreement.
Budget for the full cost
Besides the price, plan for taxes, duties, professional fees and any costs of registering the transfer.
An advocate can carry out due diligence, review the sale documents and explain the transfer process. This article is general information and not legal advice for a specific transaction.
The information provided on this website is for general informational purposes and should not be treated as legal advice for a specific matter.