Conveyancing fees and costs
Unexpected costs when purchasing a property
Solicitors / Legal Conveyancing Fees and Costs. These would depend on the complexity of the property transaction.
The Deposit. This is dependent on your funding criteria for the property.
Mortgage Application Fee. This will vary according to how your loan is structured.
Property Valuation Report.
Property / Building Inspection Report. A professional pre-purchase inspection of a property before proceeding with a purchase is essential. This report should identify any items in the property that require attention. It is unlikely that a home will come through a property inspection with a clean report as maintenance on an existing home is always required. However, a property report allows you to make an informed decision prior to proceeding with the purchase of the property. Our Auckland conveyancing lawyers recommend you use a certified inspector for your potential property purchase. Please find below some suggested sources for qualified building professionals.
Accredited surveyors: http://www.boinz.org.nz/accreditation/
Accredited building surveyors: https://www.buildingsurveyors.co.nz/find-a-surveyor/
Mortgage Insurance. This provides you with insurance to cover you upon your death or for a major illness.
Home and Contents Insurance. You should cover your furniture whilst in transit, the house you have purchased and the household contents.
Relocation expenses. This may be on a fixed price contract or on a per hour basis.
LIM/PIM Reports (Land Information Memorandum/Project Information Memorandum)
Rates. A pro rata rates payment may be required.
Other Expenses. This article has been written as a guideline in order to highlight some of the costs that may be incurred when purchasing a home. This list is by no means complete as there will be additional expenses such as connection fees, phone, power, SKY or other property purchase related expenses.
Recent News
Our legal tips are provided by the Auckland lawyers and conveyancing specialists at Quay Law (New Zealand). These articles cover a range of legal topics and news worthy articles.
- The Hidden Dangers of Unconsented Works When Buying or Selling a House in NZ
Introduction: Picture this: You’ve found the perfect house, the one that ticks all the boxes – the dream home you’ve been searching for. But wait! Before you get carried away with visions of cozy nights by the fireplace, there’s something you need to know. Unconsented works can turn your […]
- Tony Alexander: FOMO’s back – why Auckland is primed to lead the next house price surge
Original Source – ONEROOF.CO.NZ – 19 July 2023 Article repurposed for our blog. ANALYSIS: Each month, I / Tony Alexander conduct five surveys among my 31,000 subscribers of ONEROOF to gain firsthand insights into the economy, particularly the housing market. This week, I ran a survey […]
- Property Reports: The Lowdown
Knowledge is essential when it comes to investing in real estate. Making an informed purchasing decision requires knowledge of the potential home’s condition, history, and risks. Property reports come into play in this situation. A property report is a compilation of various documents that […]
