Due Diligence Checklist for Property Buyers
Purchasing a property is one of the most significant financial decisions you’ll make. Completing thorough due diligence before signing a contract of sale can save you from costly surprises down the track. Use this checklist as a guide when assessing any property in Victoria.
Legal & Title Checks
- Review the Section 32 (Vendor’s Statement) in full — including title, encumbrances, outgoings, and planning information
- Verify the property boundaries match the title plan
- Check for any easements, covenants, or caveats on the title
- Confirm zoning with the local council and check for any overlays
- Review owners corporation (body corporate) records if applicable
Physical Inspection
- Commission a professional building inspection report
- Commission a pest/termite inspection report
- Check for signs of moisture, dampness, or rising damp
- Inspect the roof, guttering, and drainage
- Test all fixtures, appliances, and electrical points
- Check for any illegal or unapproved structures or additions
Financial Checks
- Obtain formal finance pre-approval before bidding or making an offer
- Review council rates, water rates, and any other outgoings
- Obtain an independent valuation if required
- Budget for stamp duty, legal fees, building insurance, and moving costs
Need Guidance?
Our experienced sales team can walk you through the Section 32 and help connect you with reputable building inspectors and conveyancers in the Shepparton area. Contact us on (03) 5825 4400.