A Buyer is recommended to carry out a number of searches which protect them under the Contract and allow them to terminate in certain cases. The more common types of searches conducted are:
- Title search – This reveals that, the Seller of the property is the owner and all registered encumbrances on the property. This search will need to be performed twice, once after the Contract becomes unconditional and again on the day of settlement.
- Plan Search – This will allow you to ensure that the location of the property is the same as the property you are buying under the Contract.
- Company Search (if the Seller is a company) – This will ensure that the company is still solvent and has the right to sell the property.
- Land Tax Clearance – This will reveal whether there is any Land Tax owing on the property. If there is any Land Tax outstanding and the search is not performed, you, as the new owner, will become liable for any outstanding Land Tax.
- Council Rates Search – This will show the amount of rates and water charges that was payable in the period in which the property will settle. It will allow for the calculation of adjustments for settlement and if any rates are outstanding, provide for the Seller to pay them at the time of settlement.
- Building Approvals – This will ensure that all structures have Council approval and the final inspection certificates have been issued. In the South Burnett Regional Council, there are usually no records for structures built prior to 1974.
Additional Searches can be done to include such items as:
- Department of Transport (Main Roads)
- Queensland Railways
- Local Electricity authority
- Local Authority (sewer defects, drainage plan, resumptions)
- Town Planning Certificate
- Contaminated Land
- Mine records search
- Heritage searches
- Demolition notices
- Queensland Building Services Authority searches
- Flood search (if available)
- Body Corporate records
- Body Corporate commissioner
We carry out all searches requested by the Buyer, but stress that any searches need to be ordered promptly to make sure they are returned in sufficient time to be checked before settlement
Sometimes a Buyer’s financier will require additional searches which we will immediately conduct once we are advised of their requirements.