One of the most exciting parts of the purchase process is having your offer accepted on a new home. What should you do next?
We work with solicitors, builders, Insurance brokers, accountants amongst many other professionals all over New Zealand andwould be happy to make a recommendation if you need.
You will need to meet conditions of your Sale & Purchase Agreement:
- Solicitor’s approval – your solicitor will undertake any due diligence relating to the LIM and property title searches and will let you know if any issues are identified.
- Building report – contact a local building inspector.
- LIM report – this is sourced via the local council – you can visit them in person or order a report online through their website.
- Meth Test – you can get home testing kits, always check with the agent before completing a test.
You will need to meet the conditions of your Pre-Approval
These conditions vary and are unique to your situation. Most of these are just a matter of course and we will assist you in ticking them off as we move through the process.
1. Provide us and your solicitor with the Sale & Purchase Agreement –Often the Real Estate Agent will send this through to us and we’re happy to contact them directly to get a copy if that’s easiest.
3. If your deposit is less than 20%, one of your conditions will ask for a Registered Valuation – we can arrange for a valuation to be completed and the link will be sent to you to pay for it – Registered Valuations will cost around $1000 depending on the location and timing
5. If a boarder letter was one of your conditions, we now need to get this signed by your boarder/s and note the address of the property (we have this template handy so just ask if you need a copy)
2. You will need to sign your Kiwisaver (and First Home Grant if applicable) forms – this is something that some solicitors will arrange for prior to making an offer – talk to your representative to confirm their process.
4. Make sure all funds can be accessed for your deposit – e.g., savings, shares, gifting or loans from friends and family. Your Sale and Purchase Agreement will note the amount you need to pay on unconditional date. Talk to us if you’re not sure about this.
6. If you are receiving a gift or loan towards your deposit, now is the time to get it signed and note down the amount that is being gifted (we also have this template and the wording for the bank on hand too).
7. Lastly but not urgently – there may have been a loan condition to reduce your Kiwisaver to 3% which is something that you’ll be able to do now that you’re withdrawing it. For most people, contacting your payroll officer is the best way to do this.
Having your offer accepted is a massive milestone and we’re here to make it easy. Talk to us at any time if you’re not sure of the next steps