MrsFychan

Now for the no nonsense house buying procedures of NZ

Any tips/advice from anyone ? All gratefully received

sparkie down under

you have cash in your pocket

you rule

florabundi

Well done Mrs F You can relax and enjoy the purchase of your new home. We only seem to have viewers at the moment who have not yet put their homes on the market, quite infuriating

Genesis

Well done! Now things this end. Get an INDEPENDENT home inspector to go over the house. Get one out of the yellow pages. Get the LIM (land info. memeo) from the local council and all other files they may have on your house. DONT let them know you are fresh in the country.. sellers will think you are utterly loaded and have a price for you that will be more than an established person..beleive me! Just say you have been living elsewhere in Nz and you are looking to buy now having rented/sol elsewhere. Don't say you are a cash buyer (if you are) simply that you have finances in palce to buy the house. Again being all cash will lend the air you are a cashed up pom ready for a good rogering! Also consider getting an independent valuation for the house..you can use this either as a bargaining tool or simply to establish youare/are not being ripped off.

I know all this because it is what I DID NOT DO!!!!! I am sure and know I would have had a better deal had I followed the above advice. Good luck.

PS get the wiring checked to by an accredited electrician. Sounds all a bit daunting but it is a BIG outlay eh??

sparkie down under

Not sure if I agree with Genesis on the not telling people you are cash buyer. Cash means not being caught up in a chain and not being in a chain means the person you are buying from also has bargaining power.
If you came to me as a cash buyer I'd be biting your hand off!

I'd agree (bit time) about the wiring check, but please not by a electrician - no no no no. Get an Electrical Inspector (like me)

I spend most of my days looking at, reporting on, fixing up and generally answering stupid questions on work that registered electricians have done. Why anyone would ask them to report on something when half the time they can't even do the job right in the first place I'll never know.

Buying a house in NZ is just like the UK - only more so..... But hey at least you're here

MrsFychan

At the moment looking at a new build. so any tips on them?

as for Cash buyer, I wished but no. the money from the house sale isn't that much and just going to use it for deposit to get a smaller mortgage.

Genesis

Re the cash buyer I think that works in the UK with lengthy mortgage brokerage etc but not here as you can close a deal on a hosue and be in within 14 days..sometimes less. All you have to say is that all your finance is in place and you are ready to go (subject to an acceptable builders report). Anyways it is not an issue here as we are talking new build but an interesting argument both ways. I am sure in some cases it might help but in others I think there is the risk that the vendor will expect you to pay more if you are 'cashed up'..and from the UK!! Lots of kiwis think UK emigrees are all very, very wealthy IMO.

babybella

Fab news,
Happy house hunting.
Kaz

MrsFychan

My husband has been here and working since September last year, myself and the kids came out in January. We already have banks approval for a mortgage as husband has been in talks with mortgage advisor since November last year and was looking at buying a house back in Dec but we lost out as needed deposit money from the UK sale.

Boopy

A huge congrats on the house mrs f