Batty

I've had a response They are on a 2 yr work permit and got their mortgage through HSBC! And they literally bought a $1.5m house within a week of arriving in Auckland!

kiwisteph

Hi Batty
That would be great thanks

Batty

I think we must have cross-posted - see above

kiwisteph

Sorry for slaging off Westpac, i know there only doing their job but that doesnt change how 'I' feel about their service!!!!!!!!!!!

harrogate girl

HI As you can get hold of the deposit you could put an offer on the house you need the Real Estate agent to add a special claus to say that this offer is subject to you getting PR AND Finance and see if the vendors will hold on for a Longer Possession Date and Confirmation date..

What the vendor may do is come back with what we call a Roll Over clause( SOLE BENIFIT OF THE VENDOR OBTAINS ANOTHER OFFER ON TERMS which the vendor regards as more favorable) you will given just 2 working days to go Unconditional OR PULL OUT to make the choice of walking away or going Unconditional: AND THE DEPOSIT MUST BE PAID confused but you need to know how long nz house will take with your PM)
AN OFFER IN THIS MARKET IS AN OFFER..

Please if this does not make sense give me a pm and I will talk more.. Or you could go back to the Sales Consultant for the property and advise them you would like to put in an offer and you are subject to Finance and PR.
PR could also go in to the offer as an extra condition to the finance this will give you extra cover if you need to pull the Sales and Purchase Agreement

The NORMAL FIANCE Clause on contract takes no loner then ten working days AND a normal contract goes unconditional within 15 working days!! even with a builder report!! and you need to push the confirmation to give you the extra time.
Before you do this you could talk to a Solicitor.
As a real estate agent we do this all the time.. a lot of dereference from the uk.
If you dont get the home good luck with time finding a new one
Regards
Lin


Hope this will help

Wooly_Cow

Don't you think that's more to do with the time of year (winter)...the reports I've been reading is that relative activity and volumes (and prices) are on the up all be it slightly.

Batty

I don't want to be (or sound) confrontational but that could be misunderstood. The number of days to go unconditional is agreed at the time of signing - it's not something that's imposed on either vendor or purchaser. The deposit is released to the vendor 15 days after payment = 10 working days (providing the contract is unconditional obviously). A contract can be unconditional from the moment it's accepted or it can be conditional for X number of months if it's conditional on, say, the sale of a house.

harrogate girl

Hi Yes can say that my office is on the up one house has just sold this week after quite a few months on the market for $25000 more then it was priced for and not only did we get a cash offer but some one that looked at the property a few months ago phoned the agent wanting to re look. SO hope I cam sell my house SOON,
Lin

YRSBoy

Thanks also to people who like to kick you while your down on here you know who you are!!!!! Thought the forum was for people to ask advice, bounce ideas etc with other not to insult and add to their upset. Shame on you [/QUOTE]


Do you mean me? Appologies if you thought I was being offensive - my point was (and looking at some of your previous posts you haven't been in NZ too long) don't be in such a rush! All I was suggesting was take stock of the situation - this small hiccup may be giving you the opportunity to possibly save yourself some money and possibly avoid the rush into buying what might turn out to be not such a dream house after all.

I take it that your dream home is the one in New Plymouth the one you described in a previous post or - - - have you found another dream home?? - I hope that it is still on the market when you finally get your mortgage through - which by reading the other posts might happen sooner or later - so don't give up just yet

Good Luck in your endeavours - but I am a great believer in 'Whats for you - won't go by you!'

whitesand

Who would want to buy a house 'within a week of arriving in Auckland'? They may have noisy neighbours, developments about to begin nearby, traffic noise - all sorts of problems which will only show up after you have a wider knowledege of the area and the market.

Genesis

We did. In Palmy. Sometimes a mad risk pay off..ours did and we imagine never moving from what is to us nirvana. Could not imagine living anywhere better. Okay I might like a sea veiw but that brings lots of people come summer. We live on the edge of town with a rural aspect in a cul de sac of two others!! No one comes here other than the few quiet bods who live in this secret hideaway. Bloody marvelous!!!!!!!!!!! The one thing I really (wanted apart from space) out of this move was some peace and quiet. I now have it in bucket loads.

CarolineSwan

hiya

you should try ANZ we were offered our mortgage to build our house while we were still on our WTR with only 20% required as deposit

We had to showletters from immigration showing that we would be given PR after a certain amount of time , but they were very cool

shirl

We were offered one with ASB when we arrived on a work visa, albeit a reduced one because of the work permit and not residence permit. Maybe they have changed their rules due to the recession. Maybe ask ASB direct instead of going through a broker. It's worth a try.

southerner

I really would caution the old adage 'buyer beware', especially when coming in new to a particular housing market, and with the current value so difficult to determine, even for those with a good local knowledge.

Having gone through the process ourselves I know just how difficult it is to avoid looking at NZ properties with UK eyes, and to be objective. Especially when your heart is saying something like its twice the size for half the price, and has a nice garden, etc, etc.......

For all that, I'm glad in our own situation that we found our dream home (or close to it) after a couple of months looking. If it had appeared in the first week we might have had more of a dilemma knowing if it was the one or not.

Good luck with getting the finance sorted...and I do hope that if its meant to be, that you soon own your dream home.

DTHarrop

Was a year ago (i.e. before full impact of current world financial crisis) but we got a mortgage at normal rates through Westpac no problems on a WTR Visa - went through the Migrant Banking Team in Auckland - maybe they have different lending criteria than the high street branches / Broker routes - might be worth a phone call?