You should also consider taking out title insurance. Title insurance provides protection against a wide range of risks that may not be apparent on any property or property transaction, basically ensuring that the owner of that property has a good title.
The following issues may be covered by such insurance, which we can arrange on your behalf.
- Illegal building works being discovered that could result in the council ordering you to demolish or repair parts, if not all, of the property.
- Someone else claiming an interest in your land. This can occur between settlement of your purchase and the title being registered in your name.
- Fraud or forgery resulting in a challenger to your ownership, or in a fraudulent mortgage being registered against the property.
- Any issue that would have been revealed in an up to date survey.
- Zoning issues which prevent you from residing in the house.
- Outstanding rates and taxes from the previous owner which you could become liable for after settlement.