Property

What you need to Ensure Prior to Settlement

Note in Tasmania the rule ‘caveat emptor’ applies. Once settlement of the property has taken place you have very little come-back on the vendor. It is essential that you satisfy yourself prior to purchase.

This section falls into 2 categories.

Firstly, to be aware of those matters that are characteristics of the site to minimise the chances of surprises after purchase.

Secondly, those matters that are dependent upon the intended use of the property.

Firstly:

It is the hidden that all purchasers need to be aware of and properly informed on to ensure that their purchase holds no hidden surprises.

We consider it necessary that the title is reported on by an experienced person and that the title boundaries of the property are identified by means of an Identification Survey to ensure that there are no encroachments by or upon the property.

One could liken it to requesting a RAC check on a vehicle prior to purchase.

If the property is outside of a serviced area, it is essential to ensure that an acceptable effluent disposal system will be approved by the local Council. Other matters such as restrictions on the use of the property (by means of covenants , setbacks or planning scheme matters) are important to follow up.

The difficult part is making an assessment on what issues may be an issue. No one wants to see money spent on a landslip report when effluent disposal may be an issue.

Those matters referred to in Basics of Purchasing Property in Tasmania may need to be assessed as to how they may affect the enjoyment of the parcel of land under purchase.

SIMPLY:

We consider it essential that a property Identification Survey be undertaken together with a local knowledge decision about further reporting on those apparent matters that in our experience need further investigation.

HOW WE ASSIST:

We provide the initial contact point and advise on those reports and professionals that we consider are necessary to satisfy outstanding matters prior to purchase.

Secondly:

Once you are satisfied that the property has no hidden surprises in terms of its general acceptability as a parcel of land, one needs to ensure that it will satisfy the use for which it is being purchased.

Again as referred to elsewhere is our opinion that you need to clearly define the purpose of the purchase and the intended use to which the parcel will be put. Once that use is defined then those matters referred to in the Basics of Purchasing Property in Tasmania need to be pursued to ensure compliance. Such matters as zoning, covenants, easements, adjoining uses and the like are all matters that will affect the use that will be allowed on the subject land.

SIMPLY:

You must ensure that you will be able to utilise the land for the purchase purpose.

HOW WE ASSIST:

Once we are clearly advised as to the proposed use of the land we can then report on the compliance of the land with such proposed use.