Falling for a home is the fun part. Before you make an offer, though, it pays to slow down and check a few things. Here's the list I'd run through.
Order a LIM report
A Land Information Memorandum (LIM) comes from the local council. It brings together what the council holds on a property, such as building consents, permits and any known issues on the land. It's worth reading carefully, and your lawyer can help you understand anything unfamiliar.
Get an independent building report
A qualified building inspector can spot problems you'd never see on a viewing, such as moisture, roof condition, foundations or work done without a consent. It's a small cost compared with an expensive surprise after you've bought.
Look at the title and legal details
Your lawyer will check the title, including things like easements or covenants that limit how you can use the property. Ask them to walk you through anything that could affect your plans.
Check what's included
Chattels such as the heat pump, blinds, light fittings or oven should be listed in the agreement. If it matters to you, make sure it's written down.
Use your own eyes
- Visit at different times of day, and again on a rainy or cold day
- Check for damp, musty smells and condensation on windows
- Look at the roof, gutters and any cracks or sloping floors
- Walk the neighbourhood and note the noise, traffic and parking
- Open cupboards, run the taps and test the heating
Quick tip
Make your offer conditional on the reports and checks that matter to you. Your lawyer can word the conditions so you're protected if something turns up.
Compare with recent sales
Ask me for recent sales of similar homes nearby. It gives you a realistic idea of what a fair offer looks like, so you can act with confidence and avoid overpaying.
This is general information only and isn't legal advice. Always talk to your lawyer before signing anything.
This is general information only, not legal, financial or building advice. Rules and market conditions change, so check the details with your lawyer, lender or the relevant authority before making decisions.
