News & Resources

Top Aspects to Look at When Evaluating Land for Sale in QLD

When buying land for sale in QLD, it’s very easy to overlook inconspicuous aspects of the
process. It’s important to be meticulous when evaluating a piece of property because the
tiniest details can be clues to future issues you wouldn’t want to deal with. Here are some of
the aspects that you should carefully examine.

Deed

A deed is a legal document proving the transfer of ownership of a property from the original
owner to the new owner. It usually contains the identity of the grantor and grantee as well as
the adequate description of the property. The deed you have to check is that between the
seller and the person they bought the property from. You have to make sure that the seller is
really the one who owns the property and no previous issues regarding ownership exists.

Property Taxes

The government imposes property taxes on virtually all forms of property so the owner of the
land you are trying to purchase is likely to have been paying property taxes, too. Go to the
nearest Australian Taxation Office branch and check the status of the land. When was the
last time the owner paid property taxes? Are there arrears you have to worry about? Once
the property has been transferred to you, you will take full responsibility over any arrear so
be sure all debts have been paid off.

Zoning

Lands are classified according to the purpose set for them in the government’s geographical
development program. These classifications are called zones and the process of specifying
the areas in which residential, industrial, recreational, or commercial activities may take
place is called zoning. Before buying land for sale in Queensland, learn about its zoning
classification first to make sure it is suitable for your specific needs.

Physical Characteristics

No two parcels of land have exactly the same features. Each one has a unique elevation,
soil composition, and slope. You may even find variations in the types of plants growing
across different properties. This is why it is very important that you visit the property and
spend some time evaluating its physical characteristics. If possible, bring a surveyor to help
inspect the property and determine whether or not it suits the specific purpose you intend for
it.

To better evaluate the land you are eyeing out, it is best to hire a realtor. No one knows the
ins and outs of the land sale process better than a professional realtor like Lion Land
Marketing, so by hiring one you are increasing your chance of spotting the perfect property.

Sources:

https://www.bankrate.com/glossary/p/property-tax/
https://www.investopedia.com/articles/realestate/12/property-deeds-and-real-property.asp