Five essential checks.

Do your home buying due diligence and you’ll know exactly what you’re committing to, reducing the risk of costly surprises. If you’ve found a property you want to buy, these are the essential checks to make before you go any further.

1

Contact the council

Ask your local and regional councils about the area you want to buy in and any future plans, such as zoning changes and new developments.
2

Apply for a LIM report

A Land Information Memorandum (LIM) is available from the local council. It gives you valuable information about the property you want to buy, including drainage, roads, flooding, erosion and consents.
3

Get a builder’s report

This should be from a licensed building practitioner. Ask what the report will and won’t cover, and for an idea of what it might cost to fix any issues they find. If it looks like there are problems with the building or the land, it’s also advisable to get a report from an engineer. You can also check the weather tightness and see whether there’s been a leaky home claim for the property.
4

Check the title to the property

Your lawyer will check the title and can tell you if there are any restrictions that could affect your ownership or use of the property. The estate agent should be able to provide a copy of the title.

You might also want to talk to your lawyer about title insurance. It could help protect you if you find out later that the boundaries are wrong or illegal work has been done on the property.
5

Talk to us

Have some questions? Contact your local Mobile Mortgage Manager and they’ll come to see you. They can explain every aspect of doing due diligence and talk through what we will need before confirming your home loan.
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Things you should know.

1 Conditional approval requires a credit check and confirmation of the details provided in your application. Other conditions may also apply depending on the nature of your application.

Westpac's home loan lending criteria and terms and conditions apply. An establishment charge may apply. A low equity margin may apply. An additional fee or higher interest rate may apply to home loans if the application is accepted but does not meet the standard lending criteria.