Buying Topics

Shared equity

Shared equity http://www.hnzc.co.nz/hnzc/web/rent-buy-or-own/home-loans/shared-equity.htm How does Shared Equity work? Shared Equity is a form of home ownership assistance used in the United Kingdom and Australia. It is designed to assist households who cannot buy a home in the area where they live and work because house prices have moved too far ahead of the maximum mortgage they can afford. To overcome this hurdle, the government’s new Shared Equity pilot... ... read more

My top 10 pick books for the budding property investor 2007

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Your offer is accepted . What next ?

Your offer is accepted - what next Please discuss with your Lawyer any of these matters or other matters which concern you. Choosing a lawyer When your offer is accepted and both parties have signed the Sale and Purchase Agreement and initialled all the changes, the contract will be dated and  you are both bound by its conditions. Any unpaid deposit will be called for. Failure to pay a deposit after three days notice may allow for the Vendor to cancel the contract. A... ... read more

Buying a section

What sort of things should I think about when looking for a residential section. As with all real estate purchases number one consideration is choose a good area,  good area for you maybe an area you know or where the environment will enhance the value of any home that you build on your new section. The section can be in an established area or a new area. If it is a new area covenants should be considered to make sure that they are not too restrictive on what you want to do but... ... read more

Loan-to-Valuation Ratio Know-How

There has been a lot of talk lately about debt. The media like to tell us how good at borrowing money we have become. In fact, these days it is not uncommon for people to buy a property without saving any deposit at all. They borrow the full amount of the purchase price plus acquisition cost – a loan-to-valuation ratio of over one hundred percent. Is this a good idea Obviously there is no single answer to this question that works for all people at all times. Those who decide to take the... ... read more

Consumer Build - Independent Website for Building and Maintenance Advice

http://www.consumerbuild.org.nz/publish/     ... read more

Buyer's Guidance Notes

BUYERS GUIDANCE NOTES Please discuss with your Lawyer any of these matters or other matters which concern you. Please do discuss them , as the lawyer will not have inspected the property you have . Common things to point out that often require council permits and may not have are; Fireplaces Conservatories Any building alterations Swimming pool fencing AND garden sheds , decks , carports or garages on Cross Lease properties There are others .........Hopefuly your... ... read more

Professional Help - Buying Your New Home

Buying Your New  Home When you're buying your home, you'll need the help of several different professionals. Here are some of the valuations and reports you can get to help you decide. Check out what some of these will cost in What it costs to buy . Getting a valuation report Getting a valuation report done by a registered valuer will give you a good feel for the 'market value' of the home, as well as some useful information about the property. Your... ... read more

Just Bought - What now!

Congratulations on the successful purchase of your new home! We at Tararua Realty Ltd are very pleased to have been able to assist in achieving this milestone . Just checking that we did our job correctly.   Did you get a copy of the Sale and Purchase Agreement? Was there a copy of the Certificate of Title with this? When you paid the deposit did you receive a receipt?   When do I pay? On settlement day your lawyer will transfer the money to the... ... read more

Buying at Tender

A GUIDE FOR BUYERS   BUYING A PROPERTY BY TENDER How do I go about it?   Purchasers view the property and decide what price that they will offer. The Vendor has the right to accept or refuse any offer. Cash offers will be viewed more favourably by the Vendors but conditional offers will certainly not be discounted.  Offers can be made on a conditional basis, like subject to finance or valuation or upon a building inspector's report... ... read more

Buying at Auction

Your Guide to Purchasing at Auction   What is a Real Estate Auction? Auction is a form of marketing a property though intensive advertising mediums designed to capture the attention of buyers, all in a set time frame. The process is a means of purchasing Real Estate through public negotiations to determine the true market value of the property.  What is the Reserve Price? The Reserve Price (“reserve”) is usually set on the date of the Auction by the Vendor. The... ... read more

Competing Offers

Is when you are expecting more than one offer on the property.  In the interests of utter fairness all parties are given the same opportunity to submit their best offer. Best of luck. The Clause to add to the Sale and Purchase Agreement is this: Multiple Offer The Purchaser acknowledges that the following paragraphs have been read and are understood. We understand that there is more than one party interested in purchasing the property described herein. That I/we have... ... read more

Choosing a Lawyer

Choosing a lawyer It's a good idea to choose a lawyer early so that if you need help you can call upon them immediately.  They will also offer you good advice on what to ask for in a Sale and Purchase Agreement when you do find a property that you like. In complex matters they will prepare the Sale and Purchase Agreement for you to protect your interest. We can refer you to a lawyer or you might like to try www.nz-lawsoc.org.nz or www.propertylawyers.org.nz or by contacting... ... read more

Real Estate Terms (in alphabetical order)

  Adjustment. The apportion between buyer  and vendor or expenses like council and water rates. Allotment . A lot, block or section subdivided from a larger portion of land. Appraised value. An estimate of the value of the property offered as security for a home loan. This appraisal is done for financial lending purposes and may not reflect the actual market value. Assets . What you own. Auction . Sale of a property in public to the highest bidder.... ... read more

Making an Offer

Any questions please do not hesitate to ask or if you are interested in this property please register your interest. We are here to help. If you want to buy it just say.   Do you have your home to sell? We may just have a buyer waiting for such a property as yours, and who knows it could be worth more than you think! Have you had a recent appraisal of your property's value ? If you are interested in getting an appraisal done, just say so. This can also... ... read more