On 20th March 2019, Legal Associates joined Loan Market (Waitakere), Barfoot & Thompson and organised a seminar for First Home Buyer. Legal Associates was represented by the Partner, Ashima Singh, together with Solicitor Joseph Chen.
Precautions for first home buyers
The seminar gave members of the public whom were also first home buyers to understand the legal aspect of buying their first home, alongside the real estate side and finance. Which inevitably created and welcomed a space for existing clients & potential clients to broaden their knowledge and feel less scared about making that real big step in their lives to purchase their first home.
Legal Associates believe that the first home buyers must take following precautions before they sign the sale and purchase agreement.
Assess your financial position and get the pre-approval - Kiwi saver, Home grant
Check whether you are signing the latest Version (9th edition) of the sale and purchase agreement.
Insert Conditions on sale and purchase agreement, including but not limited to below;
Finance Condition: Buyer arranges loan up to specific date.
LIM Report: Information regarding rates, building permits & consents, drainage & planning.
Building Inspection Report: Determine how sound the building is, or if it requires repairs.
Due Diligence Condition: Overall inspection of the property.
Purchaser Solicitor’s Approval: Covers to check who is legal owner of the property & what kind of easements, instruments & encumbrances have been registered on the title.
Forward your draft agreement to your Solicitor for the approval before you sign the agreement.
If your seeking legal information about buying your first home, then make sure to come visit us at Legal Associates and we will be able to assist you in purchasing your first home.
At Legal Associates we believe in handling our first home buyer clients the right way. We explain every step-in clarity and detail and we intend on working with the client, rather than for the client. Which makes our clients journey as a first home buyer, smooth and easy.