Conducting thorough property due diligence is essential for lawyers and conveyancers to ensure their clients’ interests are protected. Seeking credible, accurate, and up-to-date information sources is crucial for providing sound advice and minimising risks.
At InfoTrack, we are not just keeping pace with industry demands; we are setting the benchmark through the quality and availability of our property due diligence products and services. Our recent introduction of new offerings, along with enhancements to existing ones, exemplifies our commitment to supporting you in conducting comprehensive property due diligence.
In this blog, we explore the key property due diligence products, searches, and services we offer, demonstrating how they protect your clients’ interests and safeguard your firm’s reputation.
To ensure transparency and accessibility when conducting property searches, we introduced Property Enquiries alerts for potentially affected properties. These alerts are displayed within the first table on the screen, and indicate potential risks based on the property’s location. They provide alerts on environmental or climate-related risks, and flag where the property is near ongoing Development Applications. Such insights are essential for your clients as they navigate property purchases, and this feature helps provide transparency about potential risks that could affect the future of the property.
To assist your firm meet its due diligence responsibilities, we have introduced the preselection of the Groundsure ClimateIndex™ Report in your NSW Property Enquiries list for addresses with a very high flood risk. This enhancement ensures that your clients are informed about flood risks early in the process, enabling better decision-making and risk mitigation.
For Victorian properties, Lotsearch has released a new Environmental Risk: Contaminated Land Report, called the EPA Priority Sites Register Search Plus+. The report offers a comprehensive search of EPA records related to contaminated land, providing essential information for property transactions to ensure compliance with Victoria’s new Environment Act.
This report allows you to gain clarity on risks and potential contamination issues. It assists you in performing environmental due diligence as part of property transactions, ensuring thorough assessments.
The NSW Property Summary and Land Value Report is a brand-new comprehensive PDF document that compiles essential information from various sources to assess land development viability. This report includes recent sales prices, historical land values, zoning particulars, and detailed Local Government Area (LGA) information accessible via a convenient link.
With access to this detailed and up-to-date data, you can assist your clients to make well-informed property purchases as the information supplied helps identify potential risks. This report enables you to offer thorough and detailed advice, enhancing client trust and satisfaction by presenting a clear picture of a property’s potential or limitations.
When ordering Property Enquiries, find the NSW Property Summary and Land Value Report under the “Other Authority” section. Take a look at a sample report to see its full potential.
Central Register of Restrictions (CRR) Searches are paramount for NSW lawyers and conveyancers, ensuring thorough due diligence and safeguarding clients’ interests in property transactions.
Maintained by NSW Land Registry Services, the CRR is a centralised database recording potential and actual use of land by government agencies and utilities, on behalf of participating organisations. From pipelines to heritage orders and Unexploded Ordnance (UXO), the CRR captures a wide array of encumbrances that may affect a property’s value or intended use. By unveiling hidden encumbrances early, your clients can make informed decisions and mitigate risk.
Recently, we announced a new feature designed to enhance the Property Enquiries ordering process in NSW. This feature allows you to see what certificates other InfoTrack clients are ordering for the same transaction type and for properties within the same Local Government Area (LGA). By leveraging historical order information, this tool helps you assess impacts and risks specific to that area.
These new and enhanced products do more than simplify your work today; they futureproof your workflow, protect your clients’ interests, and safeguard your firm’s reputation. We are committed to providing you with the tools and insights needed to navigate the complexities of property transactions with confidence.
If you are already an InfoTrack client, start exploring these new features and services today to elevate your practice. If you are not yet using InfoTrack, now is the perfect time to see how our innovative solutions can streamline your property due diligence process. Get started to learn more about how we can support your firm’s success.
