My settlement date is approaching and I am just wondering if the Council issues an order or a notice before the settlement date, and I only become aware after the settlement. Am I liable for the order or notice? Or the vendor/developer is liable for that since it happens before the transaction is made?
Thanks.
It depends on what the contract says, but if it only comes to light after settlement, most likely you will be liable for it.
@theBestBastion, congratulations on your purchase! When I purchased my property, my conveyancer recommended that we purchase Title Insurance as part of the settlement. I am based in NSW. Look it up on Google to determine if this addresses your concerns, or speak to your conveyancer/solicitor.
Your conveyancer is the person to speak to.
Mine was very helpful with any queries and were worth their fee. Do not ask the REA as mine had no idea on anything but their commission.
Who Is Responsible for The Order or Notice Made before The Settlement Date
What kind of order/notice are thinking might come your way?
Most will fall under buyer beware, for example a clean up order. But kinda thinking that is something you would be doing anyhow.
You will become liable. You need to do your due diligence as part of final inspection and before that.
That is if purchasing already built home. If purchasing a new build, maybe it's covered under building warranty.