Take a look below at some of the things you should consider either during the cooling off period or imediately after the purchase has been completed.
The general rule is the property is at the risk of the purchaser from the making of the contract – you should insure the property immediately after your offer has been accepted.
If you are borrowing to fund the purchase your lender will require a copy of your Certificate of Currency with its interest noted before providing funds to settle.
For a single premium, title insurance protects against claims for various unknown and known (disclosed) risks that threaten ownership and use (including structures) of the property until its resale.
Our partners First Title and Stewart Title are title insurance companies who can arrange this cover for you. The links take you to their websites where you can explore the services they offer and see examples of claims made on title insurance.
Building & Pest Inspections
You should organise a building, pest and any other inspections as soon as possible. It is preferable that you do this before the contract is signed. If not, then during any cooling off period.
If the inspection cannot happen within that time, you should make the contract subject to a satisfactory inspection report. Your conveyancer can help you draft this special condition.
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