Buying a property is a big deal. If it isn’t handled properly, it can be a bumpy path full of trips and hazards.
C&R South is here to lift you over potential stumbles and trips along your purchase journey.
What happens after signing a contract?
Our flowcharts are a useful, step-by-step guide to the buying process, for both standard and off the plan purchases. Click HERE
to download your guide to what needs to happen.
Title insurance for buyers
When buying a property there are many inherent risks, which can cause you loss or affect your ownership. Title insurance is a specialised type of insurance that provides homebuyers with protection against certain unknown and hidden risks which may exist at the time of purchase.
Cover can be provided for a broad range of risks:
Illegal Building Work
Fraud, Forgery & Identity Theft
Planning & Title Defects
Outstanding Rates & Taxes
These are a few real-life stories where title insurance provided protection to homebuyers. See www.stewartau.com
for more information.
Illegal Building Work – Extension
Our insured purchased a home in Sydney. During the purchase, our insured elected not to obtain a Building Certificate. After settlement, our insured approached the local Council with plans to construct a new pergola. Council informed our insured that an extension that already existed on the house was not approved.
After further investigation, Council issued a Demolition Order for this extension because it was built without development consent in circumstances where development consent was required, and without adequate structural foundations. A previous owner had built the extension on a thin layer of ‘pebblecrete’. A pre-purchase building inspection report had failed to uncover any defects.
The Resolution – Stewart Title indemnied the insured in relation to complying with the Council Order and paid more than $110,000 to demolish the extension and reconstruct it in accordance with building code standards.
Outstanding Rates – Error by Council
Following settlement, the insured received notification from Council that there were outstanding water/sewerage rates in relation to the insured property. An error had been made by the Council with respect to the amount of rates payable as at the date of settlement.
The Resolution – Stewart Title paid the outstanding rates plus interest that had accrued thereon.
Planning & Title Defect - Unsatisfied Condition of a Development Consent
After settlement, our insured discovered that a condition of a development consent relating to the property had never been complied with by the previous owner (the developer) to the satisfaction of the electricity authority. Our insured was required to comply with the outstanding condition and install underground electricity mains to the insured property.
The Resolution – Stewart Title compensated the insured for the costs of the installation of the underground electricity mains.