Property is owned in many ways & can impact on your buyer rights. Learn about the types of property ownership including; freehold, leasehold, unit title & cross lease.
Thinking of buying a home? Use our mortgage calculator to work out your costs. Calculations are based on the interest rate(s) being constant for the term of the loan(s).
Going to an open home? Learn how to identify problems and potential issues with a property at an open home before you are too far into the purchase process.
Making an offer on a house is a big decision. Learn about sale and purchase agreements, different buying methods and multi-offers so you can make an informed decision.
Once you find an agent they will get you to sign an agreement, a legally binding contract between you & your real estate agent. Learn more about agent agreements.
When you’re ready to make an offer on a property, you’ll need to confirm your finances and make sure you understand the sale and purchase agreement and the different methods of sale.
You’ll need to know how much you can spend before you make an offer on a property. Getting pre-approval from your bank or lending provider will allow you to act fast when you find a home you want to buy. Find out more about conditional pre-approved finance, confirming your insurance, and how you may be able to get a KiwiSaver HomeStart grant or other government help here.
A sale and purchase agreement is between you and the seller of the property and lays out the details, terms and conditions of the sale. It’s a legally binding contract so you’ll need to get it checked by a lawyer or conveyancer before you sign it. In this section, you’ll learn more about this contract, including the obligations and conditions you’ll need to comply with, conditions you can add and what happens next.
Auctions are a whirlwind of suspense and emotion. A property is sold to the buyer with the highest bid after the seller’s reserve price is reached. Learn what you need to know and do before, at and after the auction. This section includes information about the process, the documents you’ll need to sign, the deposit you’ll need to pay if you win an auction, how bidding works, and what happens next.
If a property is for sale by tender, buyers give confidential written offers to the agent before a deadline. This section covers what you need to know including registering your interest with the agent, buying and making an offer before the deadline, attaching conditions, and how to complete the sale process.
Deadline sale is where a property is marketed for a set period with an advertised end date.
In this sale method, there is no end date for offers, and potential purchasers make offers based on what they think the property is worth in the current market.
Multi-offers can be confusing and misunderstood. A multi-offer process happens when more than one buyer makes a written offer on a property. It’s up to the seller to choose the offer that suits them best. If you’re buying a property through a multi-offer process, you’ll need to give your best price, because you may not have another chance to increase your offer.