Need solicitor 4 offer on property?

**degrom** · 17th May 2007, 19:33

Hi.

We are busy buying our first property.

Would it be advised to have a solicitor have a look at the offer before we hand it over to the property agent?

Anyone know of a good solicitor in Lower Hutt that won't ask you an arm and a leg to do this?

Thx.

**Drum** · 17th May 2007, 19:54

This is very important!

Do not sign ANYTHING without having a lawyer look at it first!

Sorry, my lawyer is in the city so can't help there. Never take the one the real estate agent recommends either. Ask your bank for a recommendation.

Edit: It's also worth asking your bank to chuck in $500 towards legal costs. They seldom refuse. Also see if you can get 0.5% or so off the variable rate if you're going that way. And never pay application fees.

**Stickchick** · 17th May 2007, 20:13

Originally Posted by degrom

Hi.

We are busy buying our first property.

Would it be advised to have a solicitor have a look at the offer before we hand it over to the property agent?

Anyone know of a good solicitor in Lower Hutt that won't ask you an arm and a leg to do this?

Thx.

Gill and McAsey are good with Property stuff and because they are a small firm don't believe in charging the earth....Or there is a Free Lawyer that you can get for advice only. Ring the Wellington Law Centre or even Citizens Advice Bureau and they will give you the number for the Hutt Office.

**doc** · 17th May 2007, 20:16

Originally Posted by degrom

Hi.

We are busy buying our first property.

Would it be advised to have a solicitor have a look at the offer before we hand it over to the property agent?

Anyone know of a good solicitor in Lower Hutt that won't ask you an arm and a leg to do this?

Thx.

You are pulling my tit's right. Entering into the biggest purchase of your life, and you are wondering if it's worth the cost of a legal advice. Then you ask KB'r for advice. No trouble bro, once you got the house, I got this choice 2nd hand imported MV Tambourini from Nigeria. Once you got the loan PM me. Have I got the deal for you aye!

**candor** · 17th May 2007, 20:32

A solicitors opinion is not really necessary PRIOR TO GOING UNCONDITIONAL in a straightforward purchase provided you do a couple of things that pretty much everyone does anyway.

The things a lawyer would do if you payed one. If the agent fights you on what I recommend just threaten to walk -be firm. I've bought houses and never had a lawyer in at the offer stage! On a need to have basis only.

Always make the offer conditional, so you have an out for reasonable reasons.

So that means make it conditional upon within a certain time eg so many working days obtaining

1) a satisfactory Land Information report (LIM)
Two) a satis Project Information report (PIM)

You can usually extend the time frame of typically three weeks if you need to cos council is dragging chain.

These reports are cheap to get and ensure no flooding or anything like that and no nasty new projects are planned on the doorstep.

But its money down the drain if you get a lawyer to get these reports and they find something obvious so you back out and are back to square one.

Including them as conditions does not mean you must get the reports either, tho it is always a good idea.

I once found something worrying in one that the lawyer did not spot or point out to me when it came time to involve them to hand over the dosh. Still went ahead but wih full knowledge, no surprises.

You could also make it conditional on a satisfactory property check of the building - this can give negotiating power to shave a bit off agreed price if you find anything yuk. I had to drop price five hundred on a upper end property I was selling once cos the buyers moaned that their check found the hot water tank was ancient.

You can make it conditional on lawyers approval too - doesn't mean you necessarily must involve one. Its just an out if you need it.

Lastly if you are not one to take all or some of these steps to be safe then a good condition to add is "conditional on suitable finance being arranged within x amt of time", then you have an out by just saying you could find nothing suitable (suitable is very subjective LOL) should you just change your mind.

Lastly - do not let them take an extortionate deposit. Agents have begun doing this so they can earn interest on your money. Give them enough to extract their commission and show you are serious - nothing more than five to ten percent.

If you do all that you think is wise given the property as above then you should not need a lawyer to check the OFFER agreement. And you only need them at a later if you have a mortgage, or maybe need to reconsider as the LIM or PIM or property check either mean you want out or to get a significantly lower price renegotiated.

Gill and Mccasey on High St are OK priced to purchase through and nice enough ie to do the money bits and register the mortgage if any. About five hundred plus GST and a few were extra charges.

Thats on the low average side I think. But get an all inclusive quote up front once you "go unconditional", as they forgot to tell me about a few wee extra bits eg filing fees once.

Good luck

Oh I forgot to say that the deposit is paid per the agreement when you "go unconditional" ie the date all conditions are met "or by a later date per mutual agreement".
LIMs, PIMs, finance and possibly a property check if leaky building or old house. All that done and checked out neighbourhood for any neighbours from hell and you've done all you can. Its easier than it sounds OK, agents know the drill and should help if they want to make the sale.

Ask after writing up offer to hold onto it for a day "so yer dad can check it out" if you fear you may have missed something and want to review it without moneygrubbing agent breathing down your neck.

**Laava** · 17th May 2007, 21:35

Definately get you own independent legal advice either from a lawyer or a legal executive, Good luck guys!

**degrom** · 17th May 2007, 22:06

Originally Posted by candor

If you do all that you think is wise given the property as above then you should not need a lawyer to check the OFFER agreement. And you only need them at a later if you have a mortgage, or maybe need to reconsider as the LIM or PIM or property check either mean you want out or to get a significantly lower price renegotiated.

Gill and Mccasey on High St are OK priced to purchase through and nice enough ie to do the money bits and register the mortgage if any. About five hundred plus GST and a few were extra charges. Ask after writing up offer to hold onto it for a day "so yer dad can check it out" if you fear you may have missed something and want to review it without moneygrubbing agent breathing down your neck.

Thanks for the really good advice... Will take it all in to consideration.

One need to start somewhere and it would be really silly not to ask as many questions as you can... (Even if it's on a Bikes forum.. LOL)

**Mrs Busa Pete** · 17th May 2007, 23:29

Originally Posted by candor

A solicitors opinion is not really necessary PRIOR TO GOING UNCONDITIONAL in a straightforward purchase provided you do a couple of things that pretty much everyone does anyway.

The things a lawyer would do if you payed one. If the agent fights you on what I recommend just threaten to walk -be firm. I've bought houses and never had a lawyer in at the offer stage! On a need to have basis only.

Always make the offer conditional, so you have an out for reasonable reasons.

So that means make it conditional upon within a certain time eg so many working days obtaining

1) a satisfactory Land Information report (LIM)
Two) a satis Project Information report (PIM)
What the hell is that iv'e never heard of it and i'm an agent
You can usually extend the time frame of typically three weeks if you need to cos council is dragging chain.
Time frame can be what ever you want but generally 15 working days
These reports are cheap to get and ensure no flooding or anything like that and no nasty new projects are planned on the doorstep.
They are around $180.00

But its money down the drain if you get a lawyer to get these reports and they find something obvious so you back out and are back to square one.

Including them as conditions does not mean you must get the reports either, tho it is always a good idea.

I once found something worrying in one that the lawyer did not spot or point out to me when it came time to involve them to hand over the dosh. Still went ahead but wih full knowledge, no surprises.

You could also make it conditional on a satisfactory property check of the building - this can give negotiating power to shave a bit off agreed price if you find anything yuk. I had to drop price five hundred on a upper end property I was selling once cos the buyers moaned that their check found the hot water tank was ancient.

You can make it conditional on lawyers approval too - doesn't mean you necessarily must involve one. Its just an out if you need it.

Lastly if you are not one to take all or some of these steps to be safe then a good condition to add is "conditional on suitable finance being arranged within x amt of time", then you have an out by just saying you could find nothing suitable (suitable is very subjective LOL) should you just change your mind.

Lastly - do not let them take an extortionate deposit. Agents have begun doing this so they can earn interest on your money. Give them enough to extract their commission and show you are serious - nothing more than five to ten percent.

If you do all that you think is wise given the property as above then you should not need a lawyer to check the OFFER agreement. And you only need them at a later if you have a mortgage, or maybe need to reconsider as the LIM or PIM or property check either mean you want out or to get a significantly lower price renegotiated.

Gill and Mccasey on High St are OK priced to purchase through and nice enough ie to do the money bits and register the mortgage if any. About five hundred plus GST and a few were extra charges.

Thats on the low average side I think. But get an all inclusive quote up front once you "go unconditional", as they forgot to tell me about a few wee extra bits eg filing fees once.
You will need a lawyer before you go unconditional as it your lawyer that makes it unconditional under your instructionGood luck

Oh I forgot to say that the deposit is paid per the agreement when you "go unconditional" ie the date all conditions are met "or by a later date per mutual agreement".
LIMs, PIMs, finance and possibly a property check if leaky building or old house. All that done and checked out neighbourhood for any neighbours from hell and you've done all you can. Its easier than it sounds OK, agents know the drill and should help if they want to make the sale.

Ask after writing up offer to hold onto it for a day "so yer dad can check it out" if you fear you may have missed something and want to review it without moneygrubbing agent breathing down your neck.

a lot of writing for a lot of shit signed money grabbing agent

Cant be assed reading all that put these 3 condition in your contract and that is all you need
1/ finance clause
Put it in even if you dont need it as a rule 5 days
2/Lim report again around 15 working days
Look at the lim it will give you the foots plan of the house if the house dosn't look like the plan then they may have done alterations check to see if there are permits you do that at council office in your area.

3/Building inspection
Building inspection will check for the likes of damp if there is any rot it is bascily a warrent check on the house. If its an older house i would get one of these for sure if you are not sure then get it anyway ring around for prices they are around the $500 mark

All three of those thing will give you an escape out of the contract should you not be happy.

**Nasty** · 18th May 2007, 06:33

If this is your first property I owuld have a lawyer .. post that i think you know the ropes better. One of the lawyers i use is Peter Harrison - Porirua ... the other one I have used is Gordon Stone - Wellington. Both were really good ... I was doing a sideways deal of buying into a property with others .. so not only buying but also signing tenants in common at the same time.

**riffer** · 18th May 2007, 07:06

Where did you end up looking to buy Bert?

**Sparky Mark** · 18th May 2007, 08:37

Originally Posted by degrom

Hi.

We are busy buying our first property.

Would it be advised to have a solicitor have a look at the offer before we hand it over to the property agent?

Anyone know of a good solicitor in Lower Hutt that won't ask you an arm and a leg to do this?

Thx.

Hi,
I've bought and sold a few over the last couple of years including one in the Hutt (just going back on the market if you're looking)

. I normally use Upper Hutt Law who have been pretty good. If you decide to give them a call ask for Christine Reti. She comes accross as a bit short on the phone sometimes but she's really nice when you meet her and knows the business inside out.

If you want any more info PM me and I'll be happy to help if I can.

Mark

**pzkpfw** · 18th May 2007, 08:49

When I bought my first house, my lawyer didn't seem to tell me anything about the possible issues with cross-leases.

When I sold my first house, their lawyer noticed all the things wrong with my property (and I had to drop the price).

Lesson: never use the lawyer (demon) recommended by the real estate agent (demon).

(...and try to avoid cross-leases).