When you are purchasing a property under the standard Sale and Purchase Agreement you have the right to do a final inspection of the property prior to settlement (except in the case of some mortgagee sales). This inspection gives you the opportunity to carefully check through the property before paying the settlement funds across to the Vendor. In this inspection there are 3 main things you should be checking for: continue reading »
The lawyers role in Private sales and purchases of Property
The number of private sale contracts (properties being sold without a real estate agent) comming through our ofice has increased substantially over recent times so I imagine it would be the same across the industry. I did however do a quick search on Trademe and note that of the latest 100 homes that were listed in the Auckland area over the last few days 36 of these were private listings. continue reading »
Mortgagee Sales – Buyers beware!
There may be some bargain properties up for grabs at mortgagee sales but buyers need to beware. Purchasing at mortgagee auction is not without its risks.
Buying a property at auction is quite different from negotiating on a standard Sale and Purchase Agreement through a real estate agent. continue reading »
Builders report conditions – watch the wording!
Most astute purchasers realize the importance of getting a building inspection done before committing to purchase a property. They do this by inserting a specific condition (clause) in the Sale and Purchase agreement making the contract subject to their obtaining and approving a builders report on the property. continue reading »
