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  1. #1

    Default First home buyer!!


    Thanks for taking the time to read my thread, i haven't posted much on this site but have defiantly learnt alot from all the reading that has been done

    Me and my girlfriend are in the process of buying our first home here in Christchurch and was just wondering a couple of things that i find a bit dodgy about the house we are looking at.

    Its a 117m squared 3 bedroom home in a good nabourhood , that at first glance doesn't seem to be effected too badly by the earthquakes, in saying this the previous owner (deceased estate) never got around to lodging an eqc claim.

    We have yet to get a builders report and the real estate agent is trying to sort the claim out, in saying this they will both be conditions of our first offer.

    Does anybody know if this will be a problem? Iv heard alot of mixed messages as to whether they will still be able to make a claim or not??

    Any help/info in the topic would be muchly appreciated, Cheers.

  2. #2


    Quote Originally Posted by chronic52 View Post
    We have yet to get a builders report and the real estate agent is trying to sort the claim out, in saying this they will both be conditions of our first offer.
    Have fun, it's great sport.

    Having said that , DO NOT allow the agent to write any conditions on the S&P on your behalf.
    Some conditions need to be very carefully worded so that they provide you the protection you want them to.
    Everything should be confirmed by your lawyer before signing.

    The agent may well try to hurry you, this is for a reason which is often not for your benefit.
    Don't be afraid to ask them to go away while you discuss in private / speak to your lawyer.

    They are often well versed in picking up 'tells', body language and will engage you in seemingly innocent conversation to learn more about your motives and intentions.
    Play it cool when the agent is nearby.

    Good luck.

  3. #3


    Hi yes iv noticed that about them so far ha, we have a meeting with the lawyer tomorow morning so im planning on having him write up the offer with all the conditions on it, id trust him alot more than the real estate agent haha


  4. #4
    Join Date
    Jan 2011


    My understanding is that claims needed to be lodged with EQC within 3 months of the event. That was why there were "official" declarations of a new event.

    I would speak to your solicitor before putting in an offer. There are clauses which need to be added post quake. The agent wants the minimum of clauses and will leave it to you to tell them what you want.

    If the EQC claim and insurance is not sorted, you may have trouble getting a mortgage. It is usual for the banks to want to see a certificate of insurance and they wanted to see the EQC scope of works with my last purchase.

    This may not be the property for you but give it a go. If it is hard for you to sort the EQC claim issues, it will also be hard for other purchasers.

  5. #5


    My advice to you would be have a proper talk with your agent. Agents are always in a hurry to get the matter settled fast. You must have a clear cut talk with your agent, discuss with him about the issue. Don't be in a hurry to buy the house.

  6. #6


    Cheers for the extra info guys, have put an offer in through my lawyer, the agents for the house are hopeless and dont seem to know whats going on but fortunatly my lawyer was friends with the estate's solicitor so we put the offer through that way and made sure we had a clause that mentioned eqc claim, also found out that the last reported earthquake was 19 of febuary so could possibly get a claim in through that way.

    Exciting stuff

  7. #7
    Join Date
    Jan 2011


    I hope that EQC clause is rock solid! Personally, I don't think you have a hope of getting all the damage covered as part of the 19th Feb quake.

    I trust it is also subject to building inspection, insurance acceptance and mortgage approval. Since you have gone through your solicitor, I expect it's all covered. For my last purchase, my solicitor had a page of extras to protect my interest with earthquake issues.

  8. #8


    yes it was all covered. Offer was rejected anyway the vendors think it will go for more in an auction this thursday, could have dodged a bullet in this one ha.

    On that note what are auctions like in christchurch at the moment, i heard from a few people that they are over the top busy and allways get out of hand?

  9. #9


    sorry to be a pain, just thaught id give an update

    so the greasy agent gave me a call before, he found out i made the offer through the solicitors and basicly said they dont know what they are doing and they only push pens.

    After that basicly tried telling me to come to the auction and open the bidding at 260k (my previous offer to the vendor was 290k), i said no as iv stated before im not too interested in going to auction, im tempted however to go to the auction and watch it out, take my previous offer with me (my solicitor gave me a spare copy) and if it doesent sell re present the offer directly to the vendor.

    Would this be foolish? I know that at auctions there are strict rules as in if you win the auction you are obliged to buy the house.

    would i be better leaving the auction, if it doesent sell then re present my offer through the solicitors? or would i be better presenting the offer to the agents?

    Getting interesting

  10. #10


    If the property fails at auction the auctioneer will use words something along the lines of....." I am passing the property in, and we will now be continuing negotiations with interested parties"

    So, the advantage is back in your court as you can now present your CONDITIONAL offer.
    I would have thought you may want to do it very soon after the auction if there is other interest at the auction.
    If someone else has bid above 290k, the vendor will most likely want to negotiate with them first.

    I am unsure what the rules are if you DID BID, and it was passed in, whether any subsequent negotiations are under "auction rules" or "normal conditional offer rules"
    Ask your lawyer.
    But, as you say, if you are not registered as a bidder and do not participate in the auction process then my guess (??) would be you can present your conditional offer.

    Ask your lawyer about the benefits of, and how to use a 'sunset clause'.
    Basically it is putting time pressure on the vendor to make a decision.
    You can have the correct words with you that you can add to your S&P if you think it is an appropriate tactic.

    Two things to remember.
    1. If it doesn't sell, the advantage has shifted from the vendor to you;
    2. If it does sell, there will be another one available.
    Last edited by speights boy; 16-03-2013 at 05:18 PM.


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