Our tips on keeping a cool head in a hot market

Every decade or so, the real estate market peaks. That time has definitely come around for Wellington. We’ve been busy advising clients (many of them first home-buyers) through the process, and have noticed that some are keen to get it done in a hurry, often at detriment to themselves.

Rushing into securing property often sees people forced to put in cash offers before seeing builders’ reports, or making agreements conditional upon less-than-ideal terms. Many also underestimate the huge amount of work the real estate process involves in such a short amount of time.

We’re here to make it all as easy as possible, from the start of the journey, all the way through. Here are our top tips for anyone thinking of playing in the Wellington real estate market today:

1. Don’t sign anything before seeing the independent advice of your lawyer.
2. Give yourself and your lawyer enough time to get everything sorted. 24 hours notice before a Tender deadline is not enough time for your lawyer to properly do their job.
3. From Builder’s Reports to LIM Reports and P Tests, know what a specialist report is and where they fit into the process. Your lawyer can help you to understand how important these reports are.
4. Finance pre-approval is just that – be sure to read the fine print for lender’s conditions.
5. “Mum and dad said they would help me with the deposit” can also mean that mum and dad will need independent legal advice.
6. Confidence comes when there is nothing hidden. Your lawyer can explain what is involved in carrying out due diligence.