Legal advice vital in the property market
Registered legal executive Necia Parker has worked for Terrace End Law for 17 years helping clients to buy and sell property.
She believes offering clients personal, friendly and efficient service and keeping them informed throughout the process of buying or selling is the most important part of the business.
Parker believes that selling or buying a home is a big deal. Buying a home is often the biggest asset most people purchase and therefore the correct advice is critical.
‘‘Whether you are buying or selling it is vital to obtain legal advice before signing an Agreement for Sale and Purchase as once signed, it is a binding contract.’’
Parker says it is very important clients fully understand the buying or selling process before they enter into any agreement.
‘‘Even before you decide to sell or buy, it would be helpful to have a chat to your legal professional to talk through the process as many questions can be answered and it can also help clients become more confident in the process. A lot of clients do not realise the work that is done in the background to complete a sale or purchase transaction. Your legal professional will help to make sure the transaction is completed without any hiccups and to make the process as stress free as possible.’’
Parker says if you are buying a property, your legal professional can offer you advice on the terms of the agreement. They can check the title for you and suggest if any further reports are required, check the conditions of the agreement and offer advice. They can also help you with obtaining your Kiwisaver Funds, Housing New Zealand Grants and mortgage finance and they are there to work with you throughout the process.
‘‘Your legal professional will also discuss with you the correct ownership of the property, should it be in your own name, joint names, a trust or a company.’’
Parker says there is a lot to consider when selling/buying a property and it is vital to obtain independent legal advice, as it is easy to bypass the smallest of things as it can be an emotional time.
‘‘Buying or selling a property is exciting, but it is very important that all the boxes are ticked.’’
There are so many questions around selling or purchasing property and it is important that the client is advised of the process so they understand each step.
Having a good rapport with your legal professional is imperative. It is essential that they are approachable and that you feel comfortable that they can guide you through the process in a professional manner.
‘‘Buying and selling property is expensive, it can cost even more if something goes wrong. That is why it is highly recommended to get independent legal advice before you sign any documentation.’’