Thursday November 16 2017
Home & Property
FOR SALE NEW LISTING
AUCTION Burnside: 25B Rubens Place
Designed to Delight: 4 bedrooms, 2 bathrooms (ensuite), 2 living, rear townhouse (1 of 2), with dble internal access garage. Situated well for the sun in a classy cul-de-sac close to Burnside High and Cobham Intermediate. Not a drive by, must be viewed. Ref: RMI10538
Open Thursday : 1-1.45pm; Friday: 12-12.45 and Saturday & Sunday 1-1.45 pm Cashmere: 73 Valley Road
Urgent Sale Required: Priced slashed $50,000. 4 bedroom brand new townhouse with quality chattels, stunning views, single garage – you couldn’t build it at this price. Price now offers over $800,000. Ref: RMI10507
Open Sunday 11.45am-12.15pm NEW LISTING
SECTION Wigram: 152 The Runway
652m2 corner section ready to build on now. Walk to ‘The Landing’ to enjoy all the facilities and a variety of hospitality venues. Price $299,500. MORE PROPERTIES ARE URGENTLY NEEDED
Do you know the current value of your home? Find out, call Trish now for a free appraisal.
Trish Lawrence ph 0800 874 745 INITIAL REALTY LTD Licensed Agent REAA 2008
Appears every week in
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What you need to know when you’re buying to let Buying a property is always a big deal, whether you’re planning to live in it yourself or not. Nearly 40 per cent of New Zealand property buyers already own multiple properties, according to recent data from CoreLogic, but that doesn’t make buying one as an investment any less of a bold move. If you’re thinking about buying an investment property it’s crucial to do all your homework about the ups and downs of both investing in property and becoming a landlord. There’s a lot to take into account, such as the tax implications if the property is re-sold within two years (or five, when the new Government implements its plans). Some councils levy rates differently depending on how a property is used, which can add significantly to your costs, and insuring a tenanted property can cost more because rentals are more subject to damage. When you’re buying a property that is vacant you are generally entitled to one opportunity to a final inspection of it before settlement (when you pay the balance of the money to the seller and get the keys). This inspection is to make sure that it’s in the same or better order as when you viewed it and agreed to the sale. If you’re buying a property with sitting tenants this process is more difficult and can raise all sorts of issues. To make sure you can still conduct a final inspection, we recommend asking your lawyer to ensure there is a ‘final inspection’ clause inserted in the sale and purchase agreement before you sign it. If you’re buying a property by auction, you will have to negotiate this with the seller (through the real estate agent) before the auction takes place. You’ll also have to make this a condition of the sale if buying by tender or deadline sale, if not agreed prior. Your lawyer can help you navigate this process. You may also wish to seek advice about getting a methamphetamine test included as a condition of the sale.
Talk to us if you are serious about selling your “As is Where is” home. We have sold over 150 “As is Where is” homes and we have a huge database of qualified buyers.
A change of ownership also doesn’t mean you have the immediate right to ask the current tenants to move out. Generally speaking, under the Residential Tenancies Act tenants must be given at least 42 days’ notice to leave a property. If you want the property to be empty when you take ownership, you may need to negotiate a longer settlement period with the seller to enable this. If you’re taking over the property with the tenants in place for the remainder of their tenancy agreement, the previous owner must let the tenants know that you are the new owner and give you a copy of the existing tenancy agreement. When you take over ownership, you must tell the tenants your name and contact details, and advise them how their rent is to be paid. If someone else is managing the property for you, let the tenants know who to contact in case of any issues. Most tenancies require a bond to be paid as security in case of any damage or unpaid rent. When a tenanted property is sold, the seller cannot make a claim to any bond unless this is done before the property changes hands. It’s a good idea to check with your lawyer that any bond conditions are spelled out in the sale and purchase agreement. Lastly, don’t forget to factor in that buying an investment property also requires you to become a landlord with a long list of responsibilities to your tenants. It’s your investment, but it’s their home. For independent advice on buying or selling property, check out www.reaa.govt.nz.
We have achieved record breaking prices recently!
Phil & Holly Jones Ph 03-382-2230
Phil 027 435 7711 Holly 027 222 0220 firstname.lastname@example.org Licensed (REAA 2008) Results Realty Ltd
www.firsthomes.nz email@example.com 021 575 545
3 Bed, 2 Bathroom Double Garage $285,000
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The Star has some fantastic cost-effective packages available for people selling their property themselves. From only $63+GST you can have your property profiled with a photo!
CONTACT: Vicky Sayers P 364 7419 E vicky.sayers@ starmedia.kiwi
HALSWELL Front Unit
2 Dble Bedrooms
This is a secure front property, permanent materials, across from Halswell School, close to buses, library, healthcare and shops, in a great location 15 minutes from central Christchurch Contact Brian Davidson (03) 322 8739 or 021 0293 6712
Oamaru NEW LISTINGS
HELLO! WELCOME! KIA ORA! Price: SBD BEO $245,000 2 Web: H4HGF3
LOCATION IS PARAMOUNT Price: SBD BEO $272,000 3 Web: H58GF3
AN EXE-CELLENT TOWNHOUSE! Price: SBD BEO $325,000 2 1 Web: H4NGF3
SALE OF THE CENTURY! Price: SBD BEO $339,000 5 Web: H4DGF3
A SLICE OF RURAL MAGIC! Price: SBD BEO $720,000 4 Web: H49GF3
Check out all our listings at www.oamaru.ljhooker.co.nz | Deal with the Best: LJ Hooker Oamaru - The Most Productive Team in NZ* SBD BEO = ‘Sale By Deadline Buyer Enquiry Over’
LJ Hooker Harveys Group, based on number of transactions
Call Oamaru’s No. 1 Team For Listing & Selling - Ph (03) 434 9014 Robertson Real Estate Ltd MREINZ - Licensed Real Estate Agent REAA 2008
Published on Nov 15, 2017