When you are planning to buy land for sale in Queensland, it’s crucial that you have a good sense of how big a decision this can be, or else you might not take it seriously. Land buyers who are not serious about the purchase usually end up making costly mistakes. A seller knows if a buyer is serious when they ask a lot of questions. They want to know as much information about each parcel as possible so that they can make an educated decision. They literally don’t want to leave a stone unturned. Here are some of the questions they (and you should, too) would ask.
What other fees are involved in buying a piece of land?
One of the biggest mistakes a lot of land buyers make is thinking that the only cost involved in the entire purchase is the cost of the land itself. They are completely oblivious of other essential fees, such as stamp duty, transfer tax, registration fee, notarial fees, and loan fees. Although these are small compared to the cost of the land, they could still amount to a few thousand dollars. Simply put, before checking out listings, you have to make sure all of these fees have been factored in your budget.
Can I conduct my own land survey?
Land sellers in QLD are required to present a survey of the land they are selling, but the buyer can verify its authenticity by conducting their own survey. If the seller does not allow you to do that, it’s a red flag that there’s something wrong with the property that they don’t want you to see. The survey is important because it provides an accurate mapping of the land, including the boundaries and existing right of way. To be more specific, a property survey comes with a number of important documents, including written metes and bounds, legal description of the property and a certified survey map of the property, which consists of the boundary lines, easements, and encroachments. All of these are essential to your decision-making.
Is the land served with basic utilities, such as electricity, water, and sewer?
While areas without power or water distribution lines are rare in urbanised cities like Brisbane, it is still important to ask the land owner about it. Verify their answer with your local engineer’s office. These lines are indicated in the land survey, too, so you can know where exactly in the area those lines are located. That will in turn give you an idea how much work and cost it would need to have the land supplied with basic utilities in the future.
Why are you selling the property?
If the land is as good as the owner or their agent says, then why are they selling it? You have to know the reason, because it can be the same reason why you will end up having to sell it yourself in the future. And don’t just take their word for it. Whatever reason they give you, find a way to verify it, probably by asking the closest neighbours or others nearby.
Hiring a professional realtor who specialises in land for sale in QLD can make a huge difference in the entire purchase process. They can take care of your property’s listing and handle all the paperwork, including the title transfer, so you don’t have to worry about anything.