Buying Land in Victoria Checklist

Published: 06th April 2009
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Before buying land and especially before you sign any contracts certain things should be seen to. Firstly you need to check the property to make sure there are no potentially costly problems such as rising damp, or plumbing or wiring that needs replacement. Once you know the property is good to buy, then arranging your finances is the next step.

There is more to the cost of buying a property than the purchase price. To calculate your entire costs, valuation fees, stamp duty, bank charges, registration fees and mortgage fees all need to be added to the purchase price of the property. You may be eligible for some discounts such as the first homebuyers grant, stamp duty exemption or any other entitlement. Read the fine print and have it checked by your solicitor.

If you don't understand the vendor's statement, then your solicitor will be able to explain it to you, plus what your rights are should there be something that was not disclosed. You need to check the accuracy of the Certificate of Title at Land Victoria by measuring your land and its the distance from the street that is nearest to it. Your solicitor should have checks made for contamination of the land.

Mel writes about land in Victoria, land for sale and other home-related topics.

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