There are a range of issues and factors that should be considered before you buy a home or vacant residential land. These issues or factors may affect the property and impose restrictions or obligations on you, if you buy it.
It is recommended that all buyers perform ‘due diligence’ prior to purchasing property. Due diligence refers to performing necessary investigations into the relevant issues and factors, prior to signing a contract.
You may already have access to a range of services or people that can assist with your due diligence, including local council, lawyers, conveyancers and building surveyors.
Consumer Affairs Victoria provide a handy resource that covers common Due Diligence requirements around purchasing property and further resources for your reference.