Are You Purchasing A Property @ Auction? If So What You Need To Know!
Many Property Transfer Purchasers are purchasing properties @ auction in New Zealand.
When you purchase a property @ auction you are basically entering into a cash transaction with the property owner.
Here are a few tips to help safe guard your property transfer investment prior to the time of auction:
1. Pre approval from your Lender if you are not a cash property purchaser.
2. 10% of the purchase price being paid as your deposit. This will be payable on the fall of the auctioneers hammer.
3. A search of the Certificate of Title, and make sure it is an up to date Title Search. You can get one from http://www.propertyconveyancingservices.com/43.html.
4. Copy of the Land Information Memorandum from the Local Council. This should be given to all potential property purchasers by the Agent who is marketing the property.
5. Any other Disclosure documents if purchasing a Unit Title, together with other Disclosure documents as required under the Real Estate Agents Act.
6. Getting the Auction Agreement checked by your Registered Conveyancing Practitioner prior to the Auction. This is so important.
7. Obtaining a quote of the total cost of Conveyancing Fees up front. So you can factor this into to your over all costs together with any rates to be adjusted at the property transfer conveyancing and settlement date.
http://www.propertyconveyancingservices.com/free-property-conveyancing-quote.html
8. List of questions you have regarding the property to be answered by the Agent.
The more due diligence you complete at the beginning of the process will ensure no hidden surprises at the end.
For more information on what you can do to safe guard your property purchase @ auction.
Ring Kim 0800 2 87878 option 1

