How to buy a house in New Zealand

More and more people apply to buy a house in New Zealand, so how can immigrants buy a suitable house in New Zealand? What are the benefits? It must be a problem encountered by many people who go abroad. Let's take a look at it with the overseas immigration network! The following is the relevant information I have compiled for your reference.

How to buy a house in New Zealand

The first step is to choose a house.

Choosing a house must first determine the geographical location. Where to buy a house. For example, there are five areas in Auckland. Which direction do you want to choose? And narrow it down. Location is very important when choosing a house. New Zealand natives have a mantra, "location! Position! There's room! ! ! "It can be seen how important the location of the house is when buying a house. It's not just the houses in which district, but the situation in this street is more important. Of course, when choosing a location, there are many factors to consider, whether it is the school district, transportation, surrounding environment, public security, ethnic composition of people around, education level, etc. , should be used as a reference. In addition, when looking at a house, you should think about the standard and type of the house in your mind, whether it is made of wood or brick, how old it is, and how many bedrooms and bathrooms there are.

The second step is to determine the price.

Generally speaking, buyers can get 80% of the purchase price from bank loans. For example, for a 300,000 house, you pay 60,000 down payment and the bank loans 200,000 to the buyer; If property buyers have a stable high income, they can even borrow 95% of the house payment from the bank.

In addition to the down payment, we should also consider the repayment ability. In New Zealand, each bank calculates its repayment ability in a different way. If buyers want to know whether they can get a loan and how much they will pay each month, they will usually find a loan broker to solve this kind of problem.

When looking for a house, it is best to find a real estate agent who is familiar with the area where the house is bought. They are familiar with the housing prices, schools, residents and shopping in this area and can better guide buyers.

Bidding can also be represented by real estate agents. In New Zealand, the whole bargaining process of buying a house is generally coordinated by real estate agents, and buyers do not have to contact the owners directly.

The third step is to sign a house sale agreement.

At the same time, lawyers will help buyers get contracts. Finally, it is signed by the buyer and the seller. Then, the bank lends money to the buyer at the contract price. Once the purchase price is determined, the buyer must pay a deposit to the real estate company, which is generally 10% of the purchase price.

Unless the purchase contract is unconditional, this kind of contract generally has three dates, one is the effective date, the other is the loan date and the other is the delivery date. The loan date is generally 5 days to 10 days after the contract comes into effect, that is, after the price is negotiated, the buyer should make a loan within 5 days to 10 days. This can be done by a loan broker. He talks with the buyer about the loan method and then submits the application materials to the loan bank. Once approved, the bank will send a letter to the buyer's lawyer to confirm the loan amount and send the corresponding loan documents to the lawyer.