Protect Your Investment, Talk to An Auckland Property Lawyer
Owning a home is probably the biggest financial step of most people’s lives. Given today’s housing market prices, this can be an even more daunting obstacle to overcome.
Do not buy a problem house. If you are contemplating buying one, go to see an Auckland residential property lawyer first and make sure that all aspects of the contract have been satisfied before signing on the dotted line.
Make The Buying Process Easier And Less Stressful
No matter how experienced you are as a property buyer, any real estate transaction is frustrating. There is lots of paperwork which requires attention to detail. The contract in most cases is the standard Auckland District Law Society Sale and Purchase Agreement. However, it still needs to be read through if one party adds any extra clauses.
Talk To A Real Estate Lawyer Before Signing Any Agreements
Picking the right lawyer is essential to ensuring a smooth transaction when buying property. If you’re about to buy a house in Auckland, make sure that you talk with an NZ qualified residential property lawyer first.
The process of purchasing land can be scary and confusing if it is your first time or even as an expert purchaser. As such, it pays off immensely for any prospective buyer – especially those looking at houses in Auckland – to get professional legal advice before signing anything official.
The numbers say that you’re probably paying a million dollars but over the life of your mortgage, you could be spending two million. That’s why it makes sense to spend just a little bit more money with an Auckland real estate lawyer to verify that everything is safe before signing on the dotted line.
The New Finance Clause
People have used a financing clause as get-out option if they change their mind about a property. Typically, people would say that if they were not able to get financing by a certain date, their offer was no longer valid. People cannot do that any longer.
The buyer has to show proof from their potential lender that they could not get finance. This must be a letter, an email or another formal document from the lending institution.
What Actions Does An Auckland Residential Property Lawyer Actually Do?
For starters, they are there to protect you. The lawyer will do this by providing expert legal advice and knowing the process inside-out. That means less time wasted worrying about potential problems with your purchase. They will be independent so that any emotion you may have is removed from proceedings too.
The lawyer will check the Title Deed to confirm that the seller has all legal rights to sell the property. They will check the Land Information Memorandum (LIM) report, which highlights potential risks including drainage issues related to the land you want to buy.
In addition to checking that the seller has legal right to sell, they will ensure all of your concerns have been addressed. They want you to be confident in any purchase.
Once all the details are verified, the solicitor will manage the transfer of funds from the lender to the seller’s lawyer. They will then confirm the LINZ that you are the new owner and the Title Deed will be changed to show that.
For any property transactions in the Auckland area, McVeagh Fleming can help. They have a good team of property lawyers in Auckland. You can get more details from their website mcveaghfleming.co.nz