Purchasing Tips.
Speak with your financier before looking so you know what you can and can’t afford. In most cases you’ll need a 20% deposit.
Prepare a short list of both house requirements ie 3 bedrooms, shed etc and also suitable suburbs.
Inspect or research online every property in your price range and suburbs to get an idea on values ( we can supply sales stats to help).
When your ready to put an offer forward your preferred agent can guide you through the process as to conditions, time frames etc. We do recommend that prior to signing you seek legal advice and also you will be supplied a copy of the REAA Purchasers Guide which you should read.
Normal conditions and time frames are as follows:
- Meth Test 5 working days
- Builders Report 10 working days
- Lim 15 working days
- Property File 5- 10 working days
- Valuation 10 -15 working days
- Finance 5 – 15 working days ( this depends on whether Kiwi saver etc is involved).
Following your solicitors advice on the contract your now ready to proceed with signing and hopefully getting your contract accepted by the seller. The contract is normally presented on your behalf by the agent.
Assuming it has been accepted and all signed a 10% deposit is normally taken and deposited into a trust account both solicitors approve it’s release ( the deposit is part payment of the total price offered for the property). We use an independent trust account through the New Zealand Real Estate Trust which has its own audit system.
Prior to settlement date you’re normally allowed one more inspection to ensure that the property is in the same condition as it was when your offer was accepted.
This is obviously a brief over view of the purchase process and if you have any queries fill in the form below or phone us on 06 8674153