The Importance Of A Property Report
If you’ve recently been pre-approved and are on the hunt for the right house, it’s never been more important to get a property report prior to a purchase.
Undertaking a property valuation report is usually a task required for property owners, real estate agents and investors alike. For a variety of reasons, the owners may want to know the real price of the property, settle family disputes, to know the insurance premium amount, to calculate house taxes and most importantly, to sell or purchase the property in question.
While a property valuation report acts as a guide for both buyers, sellers, investors, and real estate agents, this type of document doesn’t cover a wide range of factors that have the potential to affect the value of the dwelling in the years to come – which is when you need a property report.
Madd Loans Launches Partnership With PropCheck
When looking for approval from a local council, property developers can encounter significant obstacles due to not being familiar with current codes and regulations, but this is an issue that can be avoided by employing a town planner.
Town planners are professionals who ensure that the development is planned strategically. They work with landowners and developers as advisers and create assessments, reports, and strategies related to developments. Planners deal with various types of developments and work towards the best possible outcome, and the end goal of every planner’s work is to make local council approvals easier to get.
However, it’s not just multi million dollar property developers that can benefit from the skillset of a town planner, and using them to generate a residential property report is a trend on the rise amongst owner occupiers and investors alike. Nobody wants to purchase a property without having as much information as possible, and this is why Madd Loans have partnered with Brisbane based start up PropCheck to encourage Queenslanders to buy with confidence.
In simple terms, Propcheck sources all of the town planning information on behalf of buyers, and presents it in one easy to read property report. Once upon a time, this information would traditionally take buyers hours to source, but Propcheck uses a combination of technology and experience to streamline the process and help buyers to avoid any hidden surprises that could potentially come with a property purchase.
As Propcheck owner and founder Vass Stammes has a background as a town planner, he’s seen countless instances where buyers have used the information in a property report to determine whether a dwelling is worth the investment or not – and according to Vass, it’s never been more important to do so.
“I’ve seen countless occasions where buyers struggle to determine if a property floods, what the council zoning is, or where future infrastructure is located. These types of searches can take hours, if not days, so PropCheck was born out of streamlining and automating that process on behalf of buyers.”
For buyers curious on the types of information that a property report from PropCheck includes, many are surprised to learn just how much the document covers –
- Easements – determines if easements have been identified on the property
- Heritage – determines if heritage protections have been identified on the property
- Character – determines if character protections have been identified on the property
- Flood Risk – determines if the property is subject to the risk of potential flooding
- Biodiversity – determines if biodiversity has been identified on the property
- Koala Habitat – determines if the property is identified within a Koala Habitat Area
- Bushfire Risk – determines if the property is subject to the risk of potential bushfire
- Noise Impact – determines if noise impact has been identified on the property
- Odour Impact – determines if odour impact has been identified on the property
- Sewer – determines if sewer infrastructure has been identified on the property
- Water – determines if water infrastructure has been identified on the property
- Stormwater – determines if stormwater infrastructure has been identified on the property
- Electricity – determines if electricity infrastructure has been identified on the property
- Public Transport – determines if the property is located within 500m of public transport
- Shopping Centre – determines if the property is located within 500m of a shopping centre
- Parklands – determines if the property is located within 500m of parklands
- Emergency Services – determines if the property is located within 500m of an emergency services building
- Coastal Hazards – determines if the property is subject to the risk of potential coastal hazards
- Waterways and Wetlands – determines if waterways and wetlands have been identified on the property
- Steep Land – determines if the property is identified as steep land and/or possible risk of landslide
If you’re pre-approved and ready to start sourcing your next property purchase, the team at Madd Loans have partnered with PropCheck to offer an exclusive discount for Madd customers. Simply use the code ‘Madd20’ at the online checkout, and receive a special offer on your property report.
For those ready to purchase their first home, refinance their existing one, or even kick start their journey as a budding property investor, it should come as no surprise that six in ten Australians are now working with a mortgage broker for help in navigating the world of home loans – but where do you find one?
Partner With The Property Finance Experts
Since their inception in 2012, the team at Madd Loans have worked tirelessly in providing over 2,000 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, owner George Samios takes great pride in making the loan process both fun, educational and stress free – and he has a swag of awards to prove it.
Relentless in their pursuit of gold star customer service, the team at Madd have now expanded their services to include end to end financial planning. Through Madd Life, the aim is to collaborate with clients to identify long term goals, and transform them into a road map.
If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd proudly work together as a collective to turn your goals into reality.