It is important in any conveyance of a property that searches are carried out - this applies whether you are a seller or a buyer.
Some searches will enable a termination right in a contract whereas others may only enable a claim to compensation. Other searches simply act to reveal whether a property is adversely affected or subject to restrictions. Each can be critical to a decision to proceed.
What searches should be obtained?
We provide a list of searches that we recommend our clients consider. Without undertaking searches, you will be flying blind in one of the most important financial decisions you make. Some searches will help reinforce your intents with the property whereas others might mean you no longer can use the property for what you thought. As to what situation applies, only a search will reveal.
When should we carry out searches?
We recommend searches are carried out as soon as possible and where permitting in advance of signing a contract.
We confirm there are significant risks if searches are not ordered. Although there is a risk that the cost of the searches will be wasted if a contract does not proceed, ordering searches early increases the chance that search results will be received in sufficient time to reveal any problems and allow you time to exercise any rights you may have or re-negotiate the price.
What if there are issues with the search results?
We will contact you and let you know if searches reveal any issues and will give you advice on your rights under the contract and any options you may have.
Please note that you may not be able to terminate the contract in all cases. For example, often discoveries of unapproved structures, flood levels, noise corridors or restrictions or limits on the use of waterfront or beachfront property may not give you a right of termination or a right of compensation.
Useful Links
Feel free to get in touch with your enquiry. One of our friendly staff will get back to you as soon as possible; we are here to help.
Suite 1, 272 Sturt St, Townsville City
Level 3, 240 Queen St, Brisbane City Qld 4000