10 things when buying:

August 19th, 2010

 

Recognise that a licensed salesperson works for FREE until a contract goes unconditional they must aim to get a mutually agreeable situation between the two parties involved.

Don’t sign an open home form if you are being looked after by another licensed salesperson, it’s worth giving your licensed salesperson a call so they can check you in with the vendor’s salesperson, they will not be able to represent you in the sale if you sign the open home form… the catch is, you must sign in for security purposes. (Tricky isn’t it?)

Make a priority check list so you can identify what is important to you, even after seeing 30 homes. It is easy to change your priority of needs after seeing what is on offer, it’s important to stick to your guns.

Just because the bathroom in house ‘1’ is far better than the bathroom in house ‘4’ do not get swayed, a great bathroom can be upgraded for around $10,000, you can take that into account in negotiation.

Do not go in too low on your starting bid, this can have adverse affects in the negotiation process, the licensed salesperson has to present any offer by law, the vendor does not have to counter sign.

Always get a LIM (Land Information Memorandum), there may be missing building consents which could hinder your resale. There are ways to check without paying $400 just ask your licensed salesperson.

Always get a builders report, not from a mate, what happens if something goes wrong… who will you ask for damages?

Always get a financial clause; you never know what could happen.

Make sure you look at houses from different agencies to get a picture of the overall market.

Don’t decide on a home until you see everything available for you, it’s a buyer’s market. 

Receive and read the ‘NEW ZEALAND RESIDENTIAL PROPERTY SALE & PURCHASE AGREEMENTS GUIDE’. This booklet from the REAA must be handed to you by law.