Buying a house is usually the only time in your life when you spend such a large amount of money. Despite that, many people still don’t do the usual checks when buying a house.
We are still regularly surprised at people who do not have the contract and section 32 statement reviewed by a lawyer (or conveyancer) before they buy a house.
The rules of auctions are also regularly questioned, the principle rule being that any auction is condition free. You must have finance in place before you bid at auction, otherwise it is too late.
At a minimum, you should do the following checks when you are buying a house:
or if you think you are eligible for a stamp duty exemption, speak to your conveyancer or lawyer.
If you are building, the following further checks should be done:
If in doubt, see a lawyer! www.holdstocklaw.com.au