Do you know what you're buying?

So, you've just bought your dream property with plans to extend/modify the home to make it your own OR you have bought the perfect sized plot with a plan to subdivide and build an investment property only to find out that once you've bought the property you are unable to do what you want due to zoning, restrictive covenants and/or heritage listings. You have now found yourself in a very unfavourable situation.

This is an issue that new buyers can sometimes face. If the listing agent is not used to working in the area and is not across all of the different restrictions a particular suburb or property may have in place, they may not themselves be aware and may make representations to potential buyers which may in fact not be possible. Whilst legal action can be taken against an agency and its representative for failing to disclose this information, it certainly isn't the type of scenario buyers want to be faced with.

Are you may be aware, all properties in Coolbinia, Menora and some parts of Mt Lawley have restrictive covenants in place which means that there can only be one dwelling on the land and the block cannot be subdivided. Mt Lawley, Menora and Inglewood have many heritage listed houses and as such, modifications to these homes must be done in consultation with the local council.

Having a full understanding of what you are buying is paramount and understanding and interpreting the certificate of title is key. Having an agent with intimate local knowledge who will take the time with buyers to explain the certificate of title and any of its limitations, interests, encumbrances and notifications on these titles during the offer process is critical to making the most informed decision and ensuring that what you think you're buying is in fact what you are getting.