Category Archives: Property lawyer
Silverdale Property Lawyer – Getting Your New Home
Silverdale Property Lawyers – An Easier Property Transaction
Despite the current doom and gloom in the media about property prices and the slow-down in the market, people are still buying and selling homes. If you are in the Hibiscus Coast area of Auckland, talk to one of the Silverdale property lawyers as soon as possible.
Four Key Steps In Buying A Home
There are a four major steps in successfully buying a new property. These are:-
- Finding one of the good local Silverdale property lawyers to take care of the legal issues.
- Hiring a home valuer and inspection service to make sure there are no big structural problems.
- Getting pre-approval for mortgage financing.
- Being confident to negotiate with the seller.
Of these, it is probably most important that you talk to a real estate lawyer as the first step.
Why Talk To Silverdale Property Lawyers First?
Looking at these in more detail, since a house purchase is probably the biggest financial transaction that most people make, it is essential to get it right. The costs, not to mention the time and stress of making an error, are potentially huge. A lawyer will have had years of training to understand the details, and the process of selling a house.
A real estate lawyer will be able to give you good general advice from the start about what to look for, what not to do i.e. sign any documents before having them reviewed by your legal advisor.
They will also have recent experience of the property market and can give you tips on that too. This is particularly important in relation to the financing.
House inspection and valuation are critical issues for the mortgage lender. A bank will almost certainly want a valuation of the property you are thinking of buying. However, that is only a superficial assessment of the building and its location. As they potential new owner you want to know if you are letting yourself in for significant hidden costs in repairs or replacements.
A house inspection is more thorough than a valuation and will uncover any potential issues or deficiencies that you might face. For example, is there damp that will need fixing, or is the hot water cylinder coming towards the end of its life?
If you are going to stretch yourself financially to buy the property, you do not want any nasty, expensive surprises soon after you take ownership of it. Hiring a reputable house inspection service will put your mind at rest.
Finance pre-approval is essential these days so that you know with confidence, what you can afford. The banks are applying more stringent criteria when assessing people’s ability to service a mortgage. With rising interest rates, that is even more of an important issue.
You do not want to fall in love with a house only to find that the banks will not lend you enough money to buy it.
Banks are also taking much longer to process mortgage applications. A lengthy delay in getting mortgage approval may deter a seller looking for a quick sale. Alternatively, another buyer who does have pre-approved finance, can get the deal done faster than you leaving you disappointed. Talk to a mortgage broker before you start looking at homes.
Being willing to negotiate with the seller can be the difference between getting the home you want or overpaying for your property. In the current market where sales have dropped significantly, and prices have fallen, more buyers may be willing to negotiate the price or the settlement date. Be bold and seize the opportunity to maximise your value.
Summing Up
Buying a property is an expensive and rare action for most people. To make the process as easy as possible, and to avoid disappointment before and after the purchase, talk to some of the Silverdale property lawyers early on in your house hunting adventure. It can save you time, money, and lots of unnecessary stress.
McVeagh Fleming is an Albany-based law firm that has helped plenty of Silverdale residents with their property transactions. This website is their locally focused one.