Get a LIM report
A Land Information Memorandum (LIM), issued by the local council, sets out what the council knows about the property or section, consents and permits issued, any recorded drainage or plumbing issues, rates owing, and known hazard information. It’s not a guarantee the property has no problems, but it’s a genuinely useful starting point, and something your lawyer can help you interpret.
Get a building report
A qualified building inspector can identify current or likely future problems with a property’s condition, something worth doing even on a newer home, since issues aren’t always obvious on a walk-through. This is usually arranged as a condition of your offer, with a specific timeframe to have it done.
Check the title properly
Your lawyer will review the property’s certificate of title for anything that could affect your use of it, easements (rights for others to cross or use part of the land), covenants (restrictions on what can be built or done on the land), and caveats (a notice that someone else may have an interest in the property). None of these are necessarily deal-breakers, but you want to know about them before you’re committed, not after.
Be aware of natural hazards
Flooding, erosion and seismic risk vary by specific location, and this varies genuinely street to street, not just suburb to suburb, a LIM report and your local council’s hazard information are the right starting points, not a general assumption either way. If you’re unsure, ask directly and get it checked before you’re relying on assumptions.
Meth testing
Methamphetamine contamination is a real, if less common, consideration in some properties, particularly former rentals. A meth test isn’t automatic on every purchase, but it’s worth discussing with your building inspector or lawyer if you have any reason for concern.
Don’t skip this stage because you’re excited about a property
It’s easy to want to rush due diligence when you’ve found a property you like, particularly in a competitive situation. This is exactly the stage worth protecting with proper conditions in your offer, see making an offer next.