Buying a house is one of the biggest decisions you will ever make.
Buying your first home will be an exhilarating and rewarding experience. At the end of your property buying adventure, you’ll have the keys to a home to call your own and an investment for your future.
Explore what you need
In which suburbs would you most like to live? Do you like the neighbouring suburbs? Are local schools a consideration? What’s the proximity to shops, sports facilities, cafes, restaurants etc? What are the dream features of your home? Is a garden or balcony important? How many bedrooms do you need? Do you need a garage?
Buying a house is a major investment, and it’s important to make sure your finances are in order before starting the process. Get in touch with your bank or talk to our Ray White loan Market experts to secure your budget and get a pre-approved loan.
You’ve set up the alerts on your phone, planned out the calendar and resigned yourself to giving up your Saturday morning sleep-in. Bring on the open for inspections. What’s the best way to approach them? Firstly, go to as many as you can. Housing inspections are about more than just the house. It’s a chance to see the rest of the street, explore the neighborhood and check out the ‘competition’ – the other potential buyers.
Our sales agents will keep you updated with the latest market trends and recent listings.
Do your Homework
Just like a first-time buyer, it’s important to do your due diligence. That means the usual LIMs and building reports, but should also include things like a meth test. Ask our sales agents for more up-to-date information on the wealth of knowledge about homes and local area. 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,” which 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.
Contract of Sale
A document signed by both the seller and buyer. It outlines all of the property details including the price agreed by both parties. Usually, a sales and purchase agreement is drawn up by the real estate agent on behalf of the seller and pay a deposit of 10% of the sale price. However, if the property has been sold at auction or there’s no agent involved, the conveyancer will draw up the contract.
Congratulations, the 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 confirm nothing has changed in its positon 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.