Searches for off-the-plan apartment unit

Discussion in 'The Buying/Selling Process' started by rando, 4th Nov, 2014.

  1. rando

    rando Member

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    Hi guys:

    I am thinking of purchasing an OTP unit in Brisbane, and different people have suggested different searches for the purchase. Just wondering what you guys think are the crucial searches for a safe purchase, yet not too over-the-top?

    Thanks
    rando
     
  2. Propertunity

    Propertunity Real Estate Buyers Agent

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    I'd read a few books:
    The Quantity Theory of Insanity
    The Insanity Saga
    ....anything really with the word "insanity" in the title. :p

    Seriously, do a search on OTP here in the SS forum.
     
  3. The Y-man

    The Y-man Member

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    Rando,

    As an investment or for you to live in?

    The Y-man
     
  4. The Y-man

    The Y-man Member

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    Reputable developer and construction company that will be used for starters.

    Views that can't be built out - having said that, everyone has flood worries now for river frontage!

    The Y-man
     
  5. rando

    rando Member

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    Thanks Propertunity and The Y-Man.

    It's for an IP. I was referring to conveyancing searches e.g. title search, body corp searches etc. As different people tell me to have different searches I am a bit confused as to which crucial searches I should pay for to be safe but yet not over the top?

    Thanks once again.
    rando
     
  6. rando

    rando Member

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    I just realised maybe I posted the thread in the wrong forum? Maybe for this question I should post in the "legal issues" forum? Apologies.
     
  7. Propertunity

    Propertunity Real Estate Buyers Agent

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    Any experienced solicitor or conveyancer in the state of purchase would be able to best advise you on this. Cheers.
     
  8. JDM

    JDM Property Lawyer

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    As an alternative, feel free to post the searches you have been recommended and we can provide some feedback on whether they might be necessary or not.
     
  9. gradeng

    gradeng Member

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    Reviving an old thread, but I am in a similar position to the OP.

    We've just received notification of registration of the survey plan for our OTP apartment, triggering our 21 day settlement clause. Our solicitor has sent us a Buyer Enquiries Search List to complete for searches we would like completed. When asked for recommendations, we were told as a minimum we should do; rates, water, land tax, Transport Main Roads, Contaminated Land, Body Corp Information Cert + Insurance Cert.

    We can't see the point of a number of these: TMR, Contaminated Land, water.

    Any recommendations on what we should actually be getting searches done for?
     
  10. bellz

    bellz Member

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    Searches can't be started on an OTP until registration is achieved in any case.

    The searches referred to above would be what we would recommend, but if it were me personally, I wouldn't do TMR or contaminated land, however its not a massive saving when you are spending thousands. I would definitely do water, as there's no way of knowing how much water has been used (probably won't be much) but why should a buyer be paying for the seller/developer's water usage?
     
  11. gradeng

    gradeng Member

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    Thanks for the reply bellz, makes sense