Property Pointers - Using Kiwisaver to buy your first home
Are you a first home/section buyer? Your KiwiSaver may be able to help you fund the purchase price with the Kiwisaver First Home Deposit Subsidy.
Property Pointers - Buying a Property
Signing an unconditional purchase agreement means that once you have signed the contract for the sale of property you are bound to proceed with the deal no matter what.
Having a conditional contract for purchase means that the contract is dependent on something; it may relate to such matters as finance, search and approval of title, unconditional sale of the purchasers own property or receipt of a satisfactory builders report.
Lawyers include conditions into contracts, meaning you can cancel (or renegotiate the price) if an issue arises before the condition is satisfied.
Buyer Beware
More and more properties are being offered for sale as a mortgagee sale. This can provide the opportunity for a bargain, however the risks involved cannot be underestimated. Our advice? Before you buy at mortgagee sale, consult your legal adviser.
Here are a few practical tips to help you.
Building a House?
You’ve found the perfect site, finalised the plans and specifications, arranged your finance and your builder has now given you a building contract to sign, but you’re not sure what you should be looking at.
The important question is: Does the building contract accurately record the terms agreed with the builder? It is therefore important to read your contract carefully and ensure that you fully understand its terms and conditions.
Minimise your purchase risk with a LIM
When buying a property, you have the option of obtaining a Land Information Memorandum, commonly known as a “LIM”.
A LIM is issued by the Local Council (“Council”) and provides information that the Council holds on file about the property.
