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Buying a house, especially your first house, can be overwhelming.  For most people, a house will represent their biggest asset, their biggest debt, and of course the roof over their head. Here are some tips for making the house buying process smoother:

  • For first home buyers, check what entitlements may be available to you through KiwiSaver and the Housing NZ HomeStart Grant.  You should get this process underway as soon as you can, ideally before you find your perfect home! 

  • You should also contact your Bank to check whether you will be eligible for a loan, and to get an idea of how much you can afford to spend.

  • Once you find that perfect property and wish to make an offer, the Real Estate Agent will usually prepare an Agreement for Sale and Purchase.  We would recommend you forward the Agreement to your Solicitor to approve prior to signing.

  • It is common for Agreements for Sale and Purchase to include conditions for the buyer to satisfy before the Agreement becomes binding.  Conditions will be specific to the property and your circumstances, but as a general rule should include Finance, Insurance, Solicitors Approval, Title, LIM Report, and Building Report.

  • It is common for any remaining interests under the EQC and Insurance Claims to be transferred to the purchaser.

  • For properties being sold at Auction, the successful bidder will be bound to purchase the property.  You will therefore need to complete your due diligence prior to bidding.

  • Once you have had your offer accepted, your Solicitor will search the Title for the property and order the LIM Report from the Council.  

  • You will need to arrange a Building Report, ensure you have sufficient funds to complete the purchase, and arrange insurance cover.

  • When in doubt, always talk to your Solicitor before signing an Agreement or bidding at an Auction.  

Please feel free to contact Liz Robb at Young Hunter on 379 3880 or err@younghunter.co.nz  for more information.

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