Getting your DUCKS IN A ROW for BUYERS
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There is a lot of things that buyers need to think about before buying a property and it can feel quite overwhelming. So, here’s a few ideas of things you can be doing, so that when you find the home that you really want to buy, you feel ready and prepared to put an offer in.
Go to lots of open homes
Look in all the areas that you are hoping to buy in, and even some that you are not, so that you can become familiar with what homes are out there for sale and what they eventually sell for. This will help give you a really good sense of where you can afford to buy and what houses are selling for in comparison. I am always happy to send you sales results for any area you are looking at – just ask!
Understand all the information
Finance - Talk to your bank – well in advance – so you know what your budget is, and you understand their processes, what they will require of you when you do want to put an offer in and how long they might take so they are ready to give you the green light when you want.
Insurance - Things have changed a little with insurances so it is important to have a chat with your insurance company so you understand what they might ask you and all the information they need from you.
Building reports - These are very important and you should always have a report done on any property you are considering buying. Sometimes they are provided as part of the sale information, sometimes you will have to order one yourself. It is a good idea to read a few if they are provided, even if you aren’t interested in that property, so you are familiar with what they look like and their terminology. It is great if you can have a builder at hand so you can discuss with them anything you don’t understand yourself.
LIM reports - These are generally provided now with property information. It is good to read them and become familiar with them, so you understand what each part means. They may seem long and full of generic information but it is always important to read every section.
Titles and Lawyers - Look at property titles (which should always be checked by a lawyer) and have a chat with your solicitor about all the things you should be thinking about as well.
The REAA offers great guides as well www.reaa.govt.nz/ForBuyersAndSellers/Pages/ForBuyersandSellers
The most important thing is that if you do your homework and spend a little time now getting your ducks in a row, when the time comes and you have found the perfect home, you are going to feel confident and that you know what you are doing.
Don’t forget I am happy to help - just give me a call.