The Basics of Buying/Selling a House

The Basics of Buying/Selling a House

Buying or selling a house can be complicated and stressful, especially for first-time buyers or sellers. At Surani Associates, we aim to simplify this process because we understand our clients’ needs. Here is a short Q&A addressing some of the most common questions about this process.

What is Conveyancing?

Conveyancing refers to the legal and administrative action of transferring the ownership of property from one person to another. This process officially begins from the moment you accept an offer to sell or purchase a property.

What is a Conditional Agreement?

A conditional agreement is when a Sale and Purchase Agreement becomes legally binding on both parties after all specific conditions are fulfilled. A common condition a buyer may include is the requirement for a building inspection and report beforehand. If the conditions are unfulfilled, the Agreement cannot proceed.

What is an Unconditional Agreement?

An unconditional agreement is when there are no conditions that need to be fulfilled before the Sale and Purchase Agreement becomes binding on both parties.

Why is it Important to Check the Title?

It is important to check the land/property title because there are different types of ownership titles, each with its own rights and obligations. For example, a freehold title gives you absolute rights over the property, while a leasehold title may have restrictions. The title will also indicate if the property has a mortgage. Information about your land title is held by Land Information New Zealand (LINZ).

Can I Enter into a Property Agreement Without Legal Advice?

Yes, you can enter into a property agreement without legal advice, but it is recommended to seek legal advice. There are many clauses that can catch you off-guard. At Surani Associates, our experienced property lawyers can guide you and provide tailored advice for your specific situation.

How Surani Associates Can Help

At Surani Associates, we simplify the process of buying or selling a house by providing expert legal advice and support. Our team is here to answer your questions and guide you through each step of the process.

Why Choose Surani Associates?

• Expertise: Our team has extensive experience in property law.

• Personalised Service: We offer tailored advice to meet your specific needs.

• Comprehensive Support: From initial consultation to finalising the sale, we guide you through every step.

Contact Surani Associates Today