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.
A seller might choose to sell by deadline sale, sell at an advertised price, by negotiation or a variation of these sales methods. This section covers what you need to know including the difference between deadline sales, asking price sales and sales by negotiation. You’ll find information about making an offer, confirming your finances and adding conditions before you buy.
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.