Always check the Title Deed before you sign – Restrictive Property Conditions
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In many instances, properties carry a restriction which is recorded on the Title Deeds such as building or sub-division restrictions.
Buyers and even sellers are often not aware of all the conditions contained in the particular property’s registered Title Deed. This is usually because, where a property is bonded, prospective purchasers never see the Title Deed as the original is retained by the mortgage bank.
Purchasers are often disappointed when they wish to improve, alter or renovate their properties, and find that the Title Deed restrictions and conditions prohibit them from doing so, or they can do so but only after lengthy further applications. Zoning and other provisions may also further limit development options.
It is therefore advisable that you ask the estate agent for a copy of the Title Deed so that you can inspect it for any restrictions before you submit your offer to the seller. It is always important to have a thorough understanding of all the regulations in terms of what you are buying before you commit.
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Author: Seeff
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