Le­gal ad­vice vi­tal in the prop­erty mar­ket

The Tribune (NZ) - - TERRACE END -

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.’’

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