You've reached the exciting stage of shortlisting properties, but before you make that offer, it's essential to perform your due diligence. In this insights article, our experienced agents outline five key action items to tick off your checklist before committing to your dream home.
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Market Comparison - Knowledge is power. To understand a property's true value, delve into the market. Start with a consultation with one of our McKean McGregor agents for a comprehensive suburb report and recent sales analysis. Attend open houses to compare property features and prices. If the asking price aligns with your expectations or leaves room for negotiation, proceed confidently.
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Residential Title Considerations in Victoria -When it comes to residential property in Victoria, understanding title types is essential. Most houses in Australia, including Victoria, typically hold a freehold Torrens Title. However, apartments, townhouses, and certain commercial properties often operate under Strata or Company titles. It's crucial to evaluate the advantages and disadvantages of each title category based on your specific residential property objectives in Victoria.
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Paperwork Scrutiny - The contract of sale is a crucial document. It contains vital property information, zoning certificates, drainage diagrams, and more. This paperwork can be legally complex. Ensure it's fair and in order, or seek legal assistance if necessary.
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Conveyancing Expertise - Engage a conveyancer or solicitor to review the finer details of your shortlisted properties. These professionals navigate the legal intricacies and identify potential issues. Don't hesitate to involve a conveyancer early in your property journey.
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Inspection Essentials - Building and pest inspections are optional however can provide you with confidence in the later stages of purchasing your dream home. These evaluations, conducted by qualified professionals, assess a property's structural integrity and check for pest infestations. Early detection can save you substantial costs down the line.
Investing time and effort into these essential steps will empower you to confidently make an informed decision and submit your offer. For expert guidance on crafting the right property offer, reach out to a McKean McGregor agent today. Explore more about the property buying process and browse our current listings for your dream home.
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