Archive for September, 2009

Property Investment Survey

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September 23, 2009

To help us understand the needs of property investment professionals, residential property investors and even those considering getting into / or back into property investment in New Zealand, we are running the “New Zealand Property Investment Survey”.

We want to create a series of tools and packages to assist property investors in New Zealand to get better returns, understand the market more fully and thereby create a better bottom line for their property investment businesses. So help us, to help you. If your a serious property investor or thinking about property investment within New Zealand, share your thoughts with us at

http://www.propertyconveyancingservices.com/Property-Investment.html

We look forward to hearing from you and being part of your successful property investment future!

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Deposit

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September 22, 2009

What is the amount of deposit required in an Agreement for Sale and Purchase? Generally anywhere between 10-20% of the purchase price. Why? In New Zealand the deposit is paid to the Real Estate Agent as Stakeholder. There is a period by which the Real Estate Agent must hold the deposit before it can be released. Once the Agreement becomes unconditional the Real Estate Agent will be paid their commission from the deposit and the balance will be sent to the Vendor’s Conveyancing Practitioner or Legal Practitioner. In todays market we are seeing an increase in the number of mortgagee sales. Your Conveyancing Practitioner or Legal Practitioner should ensure there is sufficient to repay any mortgagee who is Discharging the Mortgage and obtain your instructions before authorisation of early release of the deposit.  Ensure your interests are being looked after. Warm regards Kim

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Laugh

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September 21, 2009

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Where are the best valued properties?

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September 21, 2009

Interesting article in the New Zealand Herald. Firstly the question would be are you an Investor, Owner Occupier or First Home Buyer? What is the Bank prepared to Lend? Do they require collateral security? How much deposit do you need? What are you looking for in the property? As you can see the questions are endless. Ensure the conditions on your Agreement for Sale and Purchase reflect your needs not the needs of others. My best advice is to research, research and more reseach. Don’t purchase on emotion as a lot of people do. Ensure you are dealing with professionals in their industry. Don’t be afraid to ask for references.

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Unit Title

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September 21, 2009

The Unit Title Act 1972 was designed to allow for development of high rise apartments, buildings, and commercial units. This enables the issue of a separate Title to the registered owner. The Title will comprise of an estate in the unit and any garden, garage or other accessory, an undivided share in the fee simple or lease hold estate in the common property and an undivided share in the fee simple. Interesting though the Government are proposing changes to the Unit Title Act to bring it into alignment to deal with Strata Title properties. Stay posted for further update and progress reports.

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