Q. Is the buyer entitled to a Survey of Property?
A. Yes. The buyer is entitled to have a survey of the property conducted and it is the responsibility of the Buyer to arrange this. A buyer may have a right to terminate the contract or seek compensation if any encroachments are identified and raised with the seller prior to settlement.
What are Personal Property Securities?
TIP: We would encourage any BUYER with concerns regarding the boundary or the encroachment of any structures on the property to arrange for a survey of the lot prior to settlement. If a SELLER is aware of any issues these should be disclosed to the buyer when entering into the contract.
Please feel free to contact Ownit Conveyancing team today if you have any queries regarding the new changes.