Buying Tips
FIVE STEPS TO PURCHASING YOUR PROPERTY 

 

FINANCE 

It is always helpful to discuss your borrowing capacity with your finance provider before looking for your new home.  This way, you know exactly which price range to search in.  Seek a pre-approval letter where possible, as this will certainly strengthen your offer when it is presented to the owner. 

 

LOCATION 

Make a short list of the areas that best suit your needs, taking into consideration such factors as locality to school, shopping, clubs and beach or whether you prefer an area that has a permanent or holiday neighbourhood.

 

RESEARCH

Gather as much information as you can from newspapers and the internet on the prices of properties in your preferred locations.  Attend “Open Homes” to help get a feel for prices in the area.  This information is so accessible now; you should become an expert in your preferred locations in no time!

 

REGISTER  

Contact one of our sales team and inform them of your requirements.  They can then alert you of any new listings that may suit your needs.  

 

 

THE OFFER  

The offer process in NZ is normally completed using a standard REINZ “Sale and Purchase Agreement” prepared by the Auckland District Law Society.  The Sale and Purchase Agreement will be completed with the names of all parties to the contract, the address and legal description of the property, the purchase price, amount and terms of deposit, settlement date, finance particulars, and any other special conditions to the sale.  Once this document has been agreed to and signed by all parties a formal contract is in place, binding all parties to the terms of the agreement.

 

BUYER ENQUIRY RANGE

Properties listed for sale with our 'By Negotiation' and 'Set Sale' marketing strategies are marketed in a 'BUYER ENQUIRY RANGE'
Both these strategies (like a tender and an auction) do not declare the vendor's expected price. Instead the property is offered for sale in a 'BUYER ENQUIRY RANGE'.

HOW DOES IT WORK?  

  • Instead of setting a fixed price, a range is set to attract buyers looking within that range.
  • If you are looking within the advertised range, you should come and look at the property and maybe you will be able to successfully negotiate for it.

HOW ‘SET SALE’ OPERATES - A PURCHASER’S GUIDE 

The best opportunity to buy top properties is within the first 30 days on the market. Certainly some properties stay on the market for months but they are the ones that are either wrongly-priced, badly presented, or lack marketing.  ‘SET SALE’ aims to end that by properly marketing the property and allowing all potential buyers every opportunity to make an offer.

Unlike an auction or tender where there is no expected price guide, a ‘Buyer Enquiry Range’ is provided as a general guide for your offer.

YOU MAY HAVE TWO OPTIONS TO TAKE:

Option 1
You may place an early offer at any time prior to the ‘SET SALE’ close date. In the case of an early offer any registered buyers are notified that an offer is being presented and they also have the opportunity to present an offer. The advantage of making an early offer is that you reduce the competition by avoiding all the last minute competition with other buyers who have not yet seen the property or who remain unregistered.

Option 2
If you are not quite certain, you may register your interest and you will be contacted two days prior to the final date to see if you wish to firm up a formal offer. We will also contact you should another firm offer come in before the ‘SET SALE’ close date. Of course, you will be advised regardless, of the outcome.

In other words, the owner will consider all offers prior to and for a ‘consideration period’ after the ‘SET SALE’ date, however may choose to accept an offer at any time.

If you wish to make an offer please discuss it with our salesperson. On the other hand, if you wish to register your interest simply fill out the registration form with the salesperson.

 

Whangamata Real Estate Limited MREINZ

Licensed under (REAA 2008)
411 Ocean Road, Whangamata.
Phone: 64 7 865 8499
Free Ph: 0800 658 499 (NZ only)
Fax: 64 7 865 8406
Web: www.beachproperty.co.nz
E-Mail: whangamata@beachproperty.co.nz

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