What do you need to know about buying agricultural land?
Published 27 Mar 2018
Do you dream about leaving your urban life behind and pursuing a career in the regions? This is something that more and more Australians are considering, thanks to the flourishing economy and the growing stresses of the daily city grind.
So, when it comes to purchasing agricultural land, what are the nuances you need to be aware of? It's a slightly different process from buying urban residential properties, highlighting the value of working with an experienced and trusted property lawyer.
Here are three elements to be aware of when buying a rural property.
1) Inspections and reports
Although property maintenance is important no matter the location, it's easy for rural buildings to be forgotten over time. This means that various buildings on the property could be damaged or infested with pests. As such, it's recommended to get inspections and reports completed before you buy the land.
This can include anything from a pest inspection report, pests to a on-site sewerage treatment system inspection where the local council will examine whether the pipes are up to standard or not.
Given that the property could be most likely your source of income, inspections and reports can provide peace of mind against the worst.
2) Legal access to the property
Working out how to access agricultural property can be significantly harder than a home in the suburbs - and not just from a practical perspective. There could be Crown roads running through the property or even no accessible road in.
In this case, it's important to get advice on how to deal with enclosure permits and gaining legal access to the property.
3) Controlling of noxious weeds
At both a federal and state level, there are clear guidelines on controlling noxious weeds and pests. If weeds have been found on a property in the past, a Weed Control Notice may have been issued under the Noxious Weeds Act 1993.
As there are obligations for occupiers under these notices, it's vital that any buyers fully understand the implications by applying for Section 64 certificate. This document will inform you to if there are any weed control notices for the property, if there are any expenses due in relation to that notice and if there are any outstanding charges.
A Section 64 certificate only covers historical data so further property inspections are necessary.
If you would like more legal information about buying rural property, get in touch with the team at Malouf Solicitors today.
Please call us on 02 8833 2000 to speak with a lawyer
I would just like to say thank you to Anthony who assisted my son in his matter. He is a first home buyer and was pressured into signing a contract prior to obtaining legal advice. The contract was certainly was not the normal straight forward type. To be able to obtain the help and assistance he did from Anthony and rescind the offer the next day, was wonderful. We were able to have a stress free Christmas. I am unable to thank him enough for this. My son and our family will be contacting Anthony when we find the next property.
Kim of Sydney