Construction and Settlement
During the construction of you investment our agents will keep you updated with
photos and commentary.
If you are looking to source financing in New Zealand or by Multi-currency lending,
three months before completion of the property our Mortgage Consultant will initiate
financing process with you.
Around two months before completion we will put you in contact with a local property
management group who will look after your investment and find suitable tenants.
Upon completion we can organize an independent building inspector to view your property
and give you feedback. Once everything is satisfied and all requirements have been
met, you pay the remainder of the contract price and your new New Zealand investment
is all yours.
Our agents in New Zealand have these steps and systems in place to make sure all
clients are happy and confident with their purchase decision before they make their
The following expenses are incurred when purchasing a property in New Zealand:
- Legal Fees - $1,300NZD
- Valuation on completion - $450NZD
- Building report - $350NZD
- Total costs - $2,100NZD
It is important to note that when purchasing
property in New Zealand there are no associated stamp duty or mortgage broking
fees - if using a New Zealand bank loan.
These costs are seen as relatively cheap when compared with many other countries
and should be seen as a major cost benefit when purchasing an investment property in New Zealand.
Buying property requires New Zealand legal representation. Employing a lawyer who's
experienced in all facets of New Zealand property law brings confidence to any buying
Our agents in NZ understand that many overseas clients don't have access to a lawyer
in New Zealand, so we have established relationships with several leading lawyers
who understand your needs and concerns as an overseas property investor.
Lawyers associated with our agents offer independent advice on all aspects of property
purchasing, ownership structures and associated issues. You will have the opportunity
to have face-to-face, phone and/or email meetings with the lawyer of your choice.
One of the most critical parts of transferring ownership of property is the conveyancing.
This process includes such things as checking land boundaries, ownership, zoning,
and that all renovations or extensions have council building approval. Our lawyers
will review and prepare the agreement of sale and purchase prior to signing, along
with all the other legal documentation associated with the purchase.
This provides further confidence in knowing the contracts have professionaly reviewed
and amendments have been made for the purchasers benefit.
Data courtesy of NZ Property Solutions