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Almost every property has its pros and cons. If there are any inherent difficulties about your property, be sure your agent/consultant has the skills to provide this information tactfully. You should know if your property is average, above or below average in your area. You should know its positive and negative aspects. If you suspect anything could be a problem, fix it first.
Overseas buyers might ask for more disclosure than you expect, because full disclosure is required from sellers and agents overseas. You might be asked to verify that all the chattels and fixtures are in full working order, if there are any significant defects/malfunctions of the construction, plumbing and electrical systems and even if the neighbours are noisy. When asked by your real estate consultant on behalf of the buyer, this information must be 100% correct or both you and the agent/consultant can be held liable long after the buyers have moved in.
Under the Fair Trading Act, your real estate agent/consultant must not deceive buyers or misrepresent facts in any way. If they do, the consultant can be fined $60,000 and the agent/company $200,000.
In one case, the court ordered the vendors to pay these penalties to the real estate company as they knowingly and wilfully mislead the consultant and agent.
Christchurch residential property
Think about overall standard of homes in your suburb and whether your home matches that standard, is above it or below. If it’s below, ask yourself if there is anything that you could do to bring the house up to standard. If you choose not to work on the property your price expectations should reflect your knowledge that the property is less than average standard.
Lifestyle block
Some lifestyle blocks are for fun and others have viable economic operations. You need a consultant who will be able to explain the GST requirements to buyers. The last thing you want to do is pay GST out of the incomings for the sale and then not be able to pass it on to the buyer.
A farm in the South Island
We work with a wide range of people, from celebrities and high profile overseas buyers to business people and investors and I’d like to hear from you if you have a property for sale in the multi-million dollar price range or when your property is absolutely outstanding and unique. In particular, if you are not ready go on the market yet, but could be ready in a year’s time, we would like to hear from you.
Large transactions take time to finalise and you need someone with tenacity and the ability to keep the buyers positive through out this period.
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