Excitement, pleasure, pride. These are the feelings that finding the right home can bring whether it is your first home, your next home or an investment property.
Choosing the right home for you comes down to knowing what you need; what you can afford and knowing exactly what’s available at the time you are ready to buy.
Knowing what you need
Although it seems obvious, the type of home you buy should reflect the lifestyle you are planning for the future. Think about such aspects as household numbers, proximity to local amenities, including schools, the sorts of work and leisure activities you like and the length of time you expect to live in the home.
Knowing what you can afford
Speak with your bank manager or consult our Ray White Financial Services consultant to pre-determine your budget level and perhaps obtain pre-approval from the lending institution prior to going out ‘to buy’. This puts you in a position where you are able to make ‘ a cash offer,’ or to move quickly if circumstances require it.
Knowing what is available
Newspapers, real estate publications, real estate offices, and the internet are all good places to begin your search. Our Ray White websites are updated daily featuring the very latest listings to the market. Each week we post a list of open homes for the coming weekend. Make contact with a real estate agent/salesperson that you trust and who listens and understands your needs. They will know of properties not officially on the market and they may also be able to save you hours viewing unsuitable listings.
Contact your local Ray White office or identify an individual salesperson and supply them with your email address. Each week they will send you an email with links to the latest listings.
Make your needs known to an individual salesperson who can actually search for properties on your behalf. Approximately 30% of sales are made to purchasers who were 1st introduced to the property by an individual salesperson.
Knowing local values:
Research sales in the areas you are looking and may be attend any auctions of properties to help establish current values. Attend as many open homes as possible. Ask any one of our sales agents for additional advice … they will be happy to help.
You’ve found your perfect property
When you find a property that suits your requirements, ask the agent for sales statistics of similar properties in the area. If the property is to be auctioned, obtain a copy of the auction agreement and send it on to your solicitor. Remember, when purchasing at auction, you must pay a 10% deposit on the fall of the hammer.
We recommend that purchasers arrange a building inspection prior to purchase and also obtain a copy of the LIM report. We also recommend you organise an independent valuation.
To comply with the Real Estate Agents Act 2008, you will be given a guide, approved by the independent Real Estate Agents Authority entitled “NEW ZEALAND RESIDENTIAL PROPERTY SALE & PURCHASE AGREEMENTS GUIDE.”
This guide explains the process, and includes that it is advisable to obtain advice from your lawyer. You will be required to sign an acknowledgement that you have received this guide prior to signing an offer. This will also occur if you wish to make a bid at Auction.
Concluding a Sale
Once your offer has been written and negotiations are finalised you will sign a Sale & Purchase Agreement and pay a deposit; usually 10% of the sale price. Copies of the contract will be sent to your solicitor and yourself.
*If the property you wish to purchase is going to be auctioned, please go to our ‘Guidelines on Purchasing at Auction’.
This is when ownership of the property is transferred to you and financial transactions are completed. Prior to settlement day we recommend you request a pre-settlement inspection of the property to ensure nothing has changed in its status since purchase and agreed chattels are in place and in working order. Once all settlement procedures have been finalised the keys will be released to you.
The home is now yours … congratulations !