This is one of the most common methods of selling a property, giving it a set price. This is also one of the easiest methods for a buyer because they have an idea about a seller's price expectations. Here's what every buyer needs to know about it...
Q. What is a priced home?
A. This is a property that has a price that the owners will sell for.
Q. How should I approach the property that is for sale?
A. Contact your Harcourts sales consultant to arrange a private viewing of the property, or you may wish to attend an advertised “open home” (advertised in the local Property Guide magazine, newspaper or internet website), which are usually held at the weekends and the home is open to be viewed for approximately one hour and a sales consultant will be in attendance to give you information and to answer any questions you may have about the home. The consultant will be able to keep in touch with you and provide information on other properties you may wish to view.
Q. Can I submit an offer if I have to arrange finance?
A. Yes. This will then be a conditional offer subject to you getting finance approved from a lending institution, for example a bank or finance company.
Q. Can I get a specialist or a builder to check the home before making an offer?
A. Yes. You may wish to employ a specialist to give you a report on the property before making an offer or you can include a condition in the contract to cover a specialist report.
Q. Can I negotiate the price of the property?
A. Yes. Many properties sell for asking price and others at a negotiated price that both parties have agreed too.
Q. Can I submit an offer if I have a house to sell?
A. Yes. There are three options - (1) You may make a offer, conditional on the sale of your property (2) If you are in a sound financial position you may want to arrange a bridging loan to cover any delay in settling the property (3) You may offer on an unconditional basis but with a longer settlement date, giving you time to sell and settle your own property.
Q. Can I make a cash offer for the property?
A. Yes. If your offer is accepted this is called an “unconditional contract” as there are no conditions attached to the contract. You will pay a deposit on the signing of the contract and you will pay for the property on settlement day through your solicitor.
Q. When can we move in once our offer is unconditional?
A. The possession date is stipulated on the contract that you have signed or a date that both parties have agreed to. This is normally done when the contracts have been signed, however dates can be varied later provided both parties to the contract have agreed.
Q. What contracts do we sign and what are the standard conditions?
A. The contract is the standard sale and purchase agreement approved by the Law Society of New Zealand and the New Zealand Real Estate Institute. This is available from the sales consultant. You should have read and understood the sales and purchase documents. If you need to insert any conditions or vary the settlement date seek assistance from your solicitor or your sales consultant. If your offer is accepted you are legally bound by the terms and conditions of that contract.
Your Harcourts Sales Consultant is specially trained to assist you if you have any questions or if you require further information about priced property. Feel free to give them a call, or pop into the office for more information.