Property guides

Vendor milestones in the sale process

There are numerous buyers guides available both on the internet, from your financial advisor and also real estate agents that deal with the overall buying process. The steps below cover off more of the steps that take place that are important to the relationship between you and your lawyer.

 

Deciding to sell

  • There are various reasons you might want to sell your property. Whatever the reason, you should consider what your tax liability is under the bright line rules.

Arranging a sales agent

  • Once you’ve signed up with a sales agency you should let us know that you intend to sell. The usual process is that the agent will draft a sale or auction agreement and forward it to us to review.
  • Alternatively, if you don’t have a sales agent and are selling your property privately, then please let us know and we will draft a sale agreement for you.

The sale agreement

  • There are a number of Vendor warranties and undertakings which are included in the standard sale agreement used around New Zealand (Agreement for Sale and Purchase of Real Estate (the latest edition). It is important you discuss these with your sales agent and lawyer prior to signing an agreement.

Getting to unconditional

  • Once you have a conditional offer it will be up to the purchaser to do their checks and due diligence on the property. The purchaser will liaise through their lawyer and us if they have any questions or concerns, and we will relay these back to you.

From unconditional to settlement date

  • Once the agreement is unconditional, we will get in contact with you to arrange signing of the settlement documents.
  • We will contact your bank to arrange discharge and repayment of your mortgage (if you have one).
  • We will arrange the final payment of your Council rates and Watercare (if applicable) from settlement funds. We will also let the Council know who the new owners are from settlement date.
  • You will need to arrange to move out of the property. The property must be left clean and tidy with all furniture, belongings (apart from chattels included in the sale) and rubbish removed.
  • The agent will be in contact with you prior to settlement day to discuss how the keys will be handed over.
  • You can cancel your house insurance from the day after settlement date.

 

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