Different documents, different questions
A LIM concerns council-held property information; title concerns legal interests and restrictions; insurance concerns available cover and terms; body-corporate material concerns shared-property governance, costs, and obligations.
Use the right professional
Ask a solicitor or conveyancer to interpret title and contract issues, a qualified building professional to assess condition, and an insurer about availability and exclusions.
Unit-title information
For a unit title, review disclosures, levies, maintenance plans, minutes, and proposed works with appropriate professional help. Check current Unit Titles Act requirements before relying on a checklist.
Costs and warning signs
Allow for document-ordering fees, lawyer or conveyancer review, building or specialist reports, insurance excesses, body-corporate levies, special levies, planned capital works, and higher costs caused by title or construction issues. Look for restrictions, unconsented work, exclusions, deferred maintenance, insurance gaps, and obligations that do not appear in the listing.
Illustrative example
Sofia’s apartment appears affordable, but planned body-corporate work and open insurance questions show why price and lending are only part of due diligence.
Evidence categories to organise
- LIM
- Record of title
- Insurance availability
- Body-corporate disclosures
- Levies and maintenance plans
- Special levies and planned works
- Document and professional-review costs
- Building inspection
- Legal review
This guide is general information only. MoreGage does not provide regulated financial advice, a lending assessment, approval, or an offer.