Buying/selling house
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Category: General Chat
Forum Name: General Chat
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Topic: Buying/selling house
Posted By: Jaxnz1
Subject: Buying/selling house
Date Posted: 20 January 2010 at 8:42am
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We are currently looking at another house to buy and selling our current one.
My question is how much should we set aside for costs such as lawyers, real estate fees, reports blah blah blah, anyone sold recently and if so would you mind sharing how much you spent on all the expenses of buying and selling? I can't really remember how much we spent when we bought our house and it's different when you're selling as well. I just want to be sure we can actually afford to make a move if we like this house we're going to see on Saturday. And is there any way of getting an idea of what houses have sold for in your area, eg websites? I know trademe have houses that have recently sold, but doesn't tell you how many bedrooms they were etc. THanks!  ------------- 
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Replies:
Posted By: minik8e
Date Posted: 20 January 2010 at 8:58am
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QV do a report - it does cost, but it gives you an idea. They are at http://www.qv.co.nz - this website. If you search the address, it will bring it up and you can choose what report you want - it's the Local Sales one, from $16.95, that you want. It includes a map of the area with recent sales and details of the properties sold (size, what it's constructed of, when it was built, the sale price, the capital valuation, when it was sold etc)...it lists up to 10 properties in the neighbourhood.
LIM is usually around $200ish, lawyers fees for a sale and purchase could be around $2,000, the agent fees will be a percentage of your sale price...from memory, in Hamilton it was $500 plus 4% of the sale price up to $200,000 (or possibly $300,000) and then 2% of the sale price over that, plus GST. Valuations are usually around $500, I'm not sure on builder's report costs though. I hope this helps a little...I used to work for a solicitor in Hamilton as a legal executive, so I did all of the house sales and purchases and that kind of thing. It was 2 1/2 years ago though!! |
Posted By: T_Rex
Date Posted: 20 January 2010 at 9:43am
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Most agents will do a free appraisal of your home and provide a list of recent sales in the area. ------------- http://lilypie.com">  http://lilypie.com">
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Posted By: Bizzy
Date Posted: 20 January 2010 at 9:44am
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a lot of real estate agents have lists of property recently sold and for how much too. They provide the info when they come over to sell the house. ------------- http://www.myfitnesspal.com/weight-loss-ticker"> 
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Posted By: rachndean
Date Posted: 20 January 2010 at 4:24pm
There are alot of fixed price conveyancers around now that (if the sale and purchase is straight forward) will do it for around $500. Good luck!!
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Posted By: countingdown
Date Posted: 20 January 2010 at 5:34pm
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Regarding the agent's percentage, don't just accept what they tell you, negotiate hard! Real estate agents really want sales at the moment, and your house is your hard earned asset.
Good luck! ------------- <a href="http://pregnancy.baby-gaga.com/"><img src="http://tickers.baby-gaga.com/p/dev065pr___.png" alt="pregnancy calendar" border="0" /></a> |
Posted By: myfullhouse
Date Posted: 20 January 2010 at 9:00pm
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Agents will also tell you what their fees are as they vary. Have a few agents come thru and give you an idea of what you can get, they should also tell you their fees. Also be aware that some of them make you pay for advertising and some give you a standard package as part of their commission (ours did). It also costs more to go to auction.
Solicitors fees vary as they incl the squaring up of any council rates owing. You could just ring you local solicitor if you don't have one and ask, but allow more for the rates. You don't always need to get reports done, we didn't when we bought either of our houses!. The LIM generally only tells you what is in the property bag held by the council plus some general info about the area's infrastructure, planing etc. It is cheaper to go to the council and look in the property bag yourself ------------- Lindsey 
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Posted By: pikelets
Date Posted: 20 January 2010 at 9:13pm
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Definately shop around for solicitors.
I had quotes that varied by $500! ------------- http://lilypie.com"> 
 3 Angels - Dec10 / Mar11 / Dec11
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Posted By: clover
Date Posted: 21 January 2010 at 8:38am
| We brought in October, our builders report was $300, didn't bother with a LIM just went to the council and reviewed the property file. Our lawyers fees were $900 and I think about $350 in prepaid rates. |
Posted By: Jaxnz1
Date Posted: 21 January 2010 at 9:45am
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Thank you ladies for the help! Gives me a good idea of what we can expect.
We'll get a couple of real estate agents in to do appraisals. It's a scary thought selling our house as we just have no idea what it will go for. I got one of those sales reports from QV and all have gone for around the capital value, which if we sold this place for the capital value and got the other place around their capital value then we would be able to afford it. -------------
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