Buyer's checklist for Home Loans

Ask the real estate agent

• What was the last price the property sold for
• What will the likely rental return be
• What are the current annual rates
• Are there heritage or other restrictions to renovations/changes made
• Are there any approved plans for renovations/changes
• Has council checked that current renovations are legal
• Have building and pest inspections been done
• What is state of plumbing and wiring – is it documented
• Has a title search been done
• How long a settlement period are sellers requesting

Re: Houses

• zoning
• size of block
• floor space ratio (building area to total land area)
• floor space currently used
• any plans for building on adjacent properties

Re: Units

• if building is company title, is leasing permitted
• is building fire rated or being arranged
• current levies
• any special levies and for how long

Ask Solicitor / Conveyancer

§       How much do you charge – what must I budget for

§       Does this include disbursements

§       Does title of property affect legal cost

§       Do you charge a storage/holding fee to keep documentation

§       Are you licensed to do this work

§       Do you handle all correspondence once sale has commenced

§       What are your working hours