Rural Land Contracts – Search Before You Sign

RHGWhen buying a rural property, it pays to do your homework. Rural conveyancing is a complex area in which purchasers need to take care to ensure they know exactly what they are buying.

The general principle of “caveat emptor” – buyer beware – applies to all land purchases, but has particular significance for rural properties. Not only is a farm a home, but also a business. Failure on the part of a purchaser to adequately investigate the property can have not only functional implications, but often monetary consequences too.

It is generally advisable for purchasers to conduct pre-purchase searches or enquiries prior to entering into the contract – once contracts are exchanged, the purchaser is locked into the deal and it will be too late to withdraw if a problem arises.… Read More