If you are selling your house, you will need to:
Before you start thinking about how much you would be happy to receive or the sale of your property, it’s helpful to understand the current market value of your home. This value can then be used to help you determine what a reasonable asking price for your property would look like. If you set the sales price too high, your property may languish on the market for a long time.
You can find out the current market value of your home by researching online to get an idea or paying for a registered valuation. You can easily find registered valuers in your area with a simple Google search.
While real estate agents often offer free current market appraisals (CMAs), please consider that most of these appraisals are not accurate. Real estate agents usually inflate the appraisal to make you list with them. For this reason, banks and other institutions do not lend on appraisal prices.
When you are selling your house privately in NZ, you need to share all relevant information about the property with your buyers. What is relevant will vary between properties but may include weather-tightness issues, boundary issues, and any alterations to the property completed without consent.
If you withhold any information that buyers should be aware of, you may be at risk of the sale falling over and even legal action.
When you receive an offer from a potential buyer, you can decide whether to accept, reject, or negotiate the offer.
If you are selling privately and wish to accept the offer, you should forward the buyer’s details and agreed upon price to your lawyer or conveyancer to prepare the sale and purchase agreement.
If the buyer has presented the offer in the form of a sale and purchase agreement and you wish to negotiate a counter offer, you can make the changes to the agreement and present it back to the buyer.
There is no legal obligation until both parties have met the agreeable conditions and the sale and purchase agreement has been signed and committed.
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