Manukau Property Lawyer – Talk To One Early
When people are looking to buy a house, they are naturally excited. That excitement can lead to two big problems. The first is not knowing how much you can spend on a new house. The second is not knowing what your obligations are when you sign a contract. To avoid these issues, talk toa a Manukau property lawyer before you start looking at potential houses to buy.
Why You Need To See A Manukau Property Lawyer Early
Seasoned house buyers might be more aware of the obligations they are committing to when they are looking at buying a house. They will probably be aware of their commitment when they sign a Sale and Purchase Agreement. First-time buyers on the other hand, may not be as well informed. It is essential that they talk to a Manukau property lawyer before they even start to look at a house.
Your Commitment
If you see a house that you are keen on buying, the real estate agent will be calling you asking you to make a bid. You do this by signing a Sale and Purchase Agreement. This is a standard document produced by the Auckland District Law Society that all lawyers and real estate offices use, so there are no concerns about any of the printed clauses.
Once you sign the document, you are committing to go ahead with the purchase. That means you must be absolutely clear about your commitment by signing the contract.
Additional Clauses
However, you or the vendor can add clauses for your own benefit.
A common one for the buyer is a finance clause. It used to be that if a buyer changed their mind, they would refer to the finance clause. Nowadays however, the buyer must provide evidence that finance has been declined. This is a big change. You must know in advance if you will be able to raise the finance, and, be sure that you want to buy that particular property. It is very difficult to back out once you have signed on the dotted line.
Knowledge and Security
If you go to see a Manukau property lawyer before you start looking at houses to buy, they will explain these issues to you. Even a seasoned house buyer may not be aware of the changes in the purchase contract such as the finance clause.
The lawyer will sit down and talk you through the whole house buying process. It is most likely that they will urge you not to sign the Sale and Purchase Agreement until they have had a look at the vendor’s additional clauses, if any. They will also be able to advise you on any extra clauses that you might want to add.
It is far better to have an experienced property lawyer writing any extra conditions for you than relying on a real estate agent dictating them for you. Remember, the agent is working on behalf of the vendor, not the buyer.
For your peace of mind, and to have more knowledge going into the exciting house hunting stage of your life, talk to a Manukau property lawyer, like McVeagh Fleming.