Land, vacant land that is . . .
Most of our clients, when they buy a vacant will ask “how much does it cost to do conveyancing for a block of land”.
You see, most people think land is a lot cheaper than a house and therefore it is easy to do conveyancing - it must be cheap to do.
Aha, conveyancing is easy. That is the transfer of the property title from one person to another.
Please note: that conveyancer responsibilities are not to do any research for you. Their duty is to transfer title only, from person A to person B
You have to do your own due diligent. That is you have to do a lot of hard research and investigation. I have found that many people after they have bought land and a few months later they would run into trouble.
Here are some of the problems you need to consider. These are only some and not all the problems:
Is the lot buildable?
Some land is not meant for building because it has no running water. You need to check with the town planner at the local council as they will make the decision as what you can build. For example, you want to build a double storey house but the council will only allow you to build a single storey.
Have you considered doing a soil testing by a soil engineer? If the soil is too soft, then the foundation might have to be deeper and that means more cost.
If the land is very steep, it might be more costly to build. You also need to consider about the storm water runoff.
For example, the position of the main sewerage can have an effect on the size of the house and also could cost you more, a lot more.
In short, buying land is simple but if there are problems, you will be stuck with the land and you will burn holes in your pockets.
Smart Tip summary
- Before you commit to buy you should do your due diligence
- Consult the local town planner at the local council
- Consult a good builder
- Consult a civil engineer
- Consult a soil engineer
- Then buy the vacant land with confidence
The cost of conveyancing is mighty cheap compared to any potential mistakes that you will make with the land.