Important Questions When Purchasing Property

8 JUNE – MARKET COMMENTARY, REAL ESTATE, BUYING TIPS

So you're looking to buy a property and want to make sure you are getting all the information you need to make an informed decision.

With property most likely being the biggest investment you will make in your life, whether this is your first or another one of many properties you have purchased, here are some good staple questions to expose any problems, items worth more consideration or additional investigation.

Some of these will and won’t have relevance to the particular property you are looking to purchase, but all are worth crossing off or ticking off the list as you work through your interest.

Structures (Home and ancillary buildings)

When was the home & structures on the property constructed?
Are all the permits given for the works? (where applicable - permit system prior to 1992)
Are all the consents granted for the works? (where applicable - consent system post 1992)
Do all the consents have CCC’s (Code Of Compliance Certificate) granted?
Has the home / structures had any changes, improvements or upgrades from its initial construction?
Has the property any of the following; detention tank, retention tank or both, pumps, or waste water storage chambers, pump stations, septic tanks or similar?
Does the property have any old and now not used water tanks or similar?
Has the home had any electrical changes or any historical problems with its electrics?
What type of fuse box does it have?
Have there been any plumbing leaks in the property’s history?
Have there been any roof leaks in the property’s history?
Any other leaks or water ingression issues over the properties history?
Does the property require a current building warrant of fitness?
Has the property passed its current inspections? (for example pool fencing)
Is the property up to date with its costs? (water rates, regional rates, insurances, body corp fees or other)

Land/Title

What type of title is the property?
Has this title had any changes since its creation?
Where are the legal boundaries?
Are there any interests on the title? (like easements, covenants & encumbrances)
Is there a unit plan or flats plan (Unit (also known as stratum) & cross lease titles)
Does the unit plan or flats plan accurately depict the dwellings / buildings the property?
Are there any exclusive use areas on the title?
Are there any shared or common areas on the title?
What rules, controls or agreements are there with neighbours on this title?
Any shared costs with neighbours?
Any responsibilities this property has with neighbours, council, government or service providers?
Is the property located on a flood plain or in a flow path for water?
Are there any protected trees or does the property have any heritage attributes/protections?
On the LIM report are there any other factors worth noting (for example sea pray zone, macroinvertebrate zone etc)

Services (Private & Public)

Are there any council services that run through the property anywhere?
Are there any proposed changes or upgrades to any council related services on the property, nearby or could effect the property?

Ownership and residences of the property

How many owners in the property’s history?
Knowledge of the background of the owners more importantly the more recent owners?
Is the property or has the property been tenanted?
Knowledge of the background of the tenants more importantly the more recent tenants?

Surrounding area

Are there any new developments nearby like housing, schools, businesses, land changes, subdivisions, parks, re-zoning etc?
Are neighbours completing any building works and if so do they require the owners consent for these works?
Are neighbours building works needing an update to their or this properties title to reflect these changes?

Historical events with the home, Past events worth knowing

Have there been any claims of compensations in regards to the property in its history?
Any land use consents that have been granted in regards to the property?