Buying A House Is Expensive – Avoid Risks and Hire An Auckland Property Lawyer

 

Purchasing a home is probably the biggest financial step of most people’s lives. Given the rising prices of housing in New Zealand, this can be an even bigger hurdle to overcome. The next time you are thinking about buying a house, it is imperative that you speak to an Auckland residential property lawyer.

 

Avoid Risks And Unnecessary Stress

They can tell if the potential purchase will be problematic and ensure legal aspects of the sale have been satisfied before settling on your investment in New Zealand’s most popular city for house buyers.

 

First, Talk To An Auckland Residential Property Lawyer

It is important to remember that once you sign up for something, it can be very difficult to back out. But if the buyer or seller inserts any extra clauses into your Purchase Agreement, they’re almost impossible to change at this point in time.

 

Therefore, before signing any papers, you must have a real estate lawyer review them to check any obligations you will be entering into.

 

Given the Auckland property market, you are probably willing to pay a million dollars for this property. However, over the life of the mortgage, you could be spending two million. With that in mind, you want to make sure that everything is legal and safe before going through with any deal. Consider paying a few hundred dollars now and protect yourself financially in future.

 

Finance No Longer A Get-Out

In the past, people have inserted a finance clause in their offers which would say something like, that if they are unable to get a mortgage by a particular date, then they will withdraw their offer. That is no longer possible.  To make this option stick, they must show actual evidence, not simply report that they cannot obtain finance for the deal.

 

How Does A Property Lawyer Help You?

A property lawyer is a qualified professional who advises people on the legal aspects of buying or selling their house. They know all about contracts, mortgages and tenancy agreements where necessary. They will also verify the seller is the rightful owner according to the Title Deed of the property.

 

A serious concern for buyers is that the seller has legal right to sell the property. Your lawyer will confirm this before you commit to buying a property. The Land Information Memorandum (LIM) report highlights risks and other issues concerning the home that potential homeowners should be aware of; they will check it out with you before committing to anything.

 

The lawyer will also manage the transfer of funds from the lender to your seller’s lawyer.

 

Once the transaction is finalised, they will also submit your Title as the new owner to LINZ.

 

A lawyer will have your best interests at heart when they advise you on the purchase of your dream home.

 

A Property Lawyer In Auckland

If you live in the Auckland area and are considering buying a house or apartment, McVeagh Fleming can give you good legal advice from their team of property lawyers in Auckland CBD. www.mcveaghfleming.co.nz