Hi Rick,
after you've done your pre offer research online and on the ground (as relevant) ask for a Vendor's Statement or Section 32 as it's called in Vic. Read thru the various statements made in that document by the vendors with regards to (but not limited to) bulding approvals, insurances, restrictions, easements, covenants, planning and road access, overlays, ougoings and statuatory charges, other notices or declarations, services connected (water, sewer, power, gas, telco, etc) title particulars, etc.
THere will be an ANSTAT register search statment about the land, look for caveats and easements, etc. Also there will be a plan of subdivision of the land and any eseament or similar under the land plan description.
I usually ask for this Sec 32 before I even get in my car, if not ready. I may go and have a look. In bullish days gone past a non-available sec 32 was (IMO) done for reasons of gaining interest and momentum in a property and playing potential purhasers off with dutch auctions, etc.
You can put in an offer subject to all you nominated conditions, such as building and pest and solicitors approvasl if you deem necessary. I usually give a $ 500 deposit or up to $ 1000 with the balance to 10 % (or whatever you negotiate) upon contract going unconditional.
The contract note has a different look as I noticed just days ago when I put my foot on a property for a couple of weeks DD and building and pest. Most important to me when I put in an offer is the amount of time to give vendors to accept and counter-sign the contract or to reject. You will need to add this as a clause on your conditional (subject to clauses) page, as there is no nominated space on the contract note any more.....a bit too vendor friendly me thinks.
I usually allow up to 24 hours. In my recent case I gave them 6 hours. Make a decision or not is my view and then you can negotiate price or terms......or move on.
Assuming contract goes unconditional then your solicitor or conveyancer will attend to the relevant searches and the remaining time line. You may wish to lodge a caveat on the property. I would insure it from day of purchase or going unconditional with a cover note at least from your insurer or broker.
Others here may have more to add or shoot some questions thru Rixter. I'm so familiar with the process (for my criteria and negotiating terms) that I may have missed some pertinant points.........becomes second nature and get's done off auto pilot.....intuition
I cannot help with any advice about bodies corporate and issues relateing to units and townies as I don't buy such under my strategy. Some other forumites may add some key points on that score.
Good LUCK with your investigations and purchases, or should I say Good Labour Under Correct Knowledge