Getting Ready for Sale

Q: My wife and I have several investment properties and we are thinking of selling one. It has been rented for many years and needs a makeover before we sell. Any advice? Thanks Jerry C. A: Renovating as an investor demands your personal wants and needs are put aside, with a focus on the bigger picture instead. Where your own home may allow you to indulge your every design whim, renovating an investment property demands a considered approach…

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Final Inspections

Q: I purchased a house at auction last week. I have been told I have the right to a ‘final inspection’. What does that mean exactly? Alison M. A: Congratulations on your purchase! You now have the right to inspect your home prior to settlement (when the exchange of funds and the title takes place). The final inspection entitles you to look through the property to ensure that it is ‘as inspected’ when you last saw it before bidding at the auc…

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When to buy?

Q: I am looking for a new property and I’m not sure whether to buy now or to wait until after Christmas. What’s your advice? Barry V. A: Interesting question Barry. I’m assuming you’ve been reading how the Auckland market has slowed: Fewer people through open homes, not as many bidders at auctions, and more properties being passed in at auction. The ‘fizz’ certainly appears to have gone out of some sectors of the market and that could certai…

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Pre-auction Offers

Q: I’m going to auction my home for sale later this year and I’ve been seeing lots of houses being sold before auction. How does a pre-auction sale work and is it a good thing to bring the auction forward? Thanks, Lily W. A: No problem Lily. When a property is being marketed for auction, provided the agent has advertised it as “unless sold prior (USP) the agent can present a pre-auction offer to the vendor. Once an offer is presented the ven…

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