Frequently Asked Questions:
What is a Market Appraisal and how is it carried out ?
A market appraisal by a Licensed real estate salesperson is carried out in a similar way to what a registered valuer does. First we ask to have a look through your home and then we do a computer analysis comparing your home with similar homes that have been sold in the previous few months in similar type areas to yours. A full written presentation with supporting photographic evidence of comparable properties is then presented to you with our opinion of the current market value based on the sales of comparative properties. Of course this is based on our knowledge and experience of what is currently happening in the real estate market.
Would you like to know the current market value of your home ? Graeme and Judy offer a free appraisal service at anytime to suit you. Please give them a call at anytime for a confidential chat.
What is a LIM report ?
A LIM report is a Land Information Memorandum and this is a report undertaken by the local Council containing all the information they have on and surrnounding the property in question. If you are considering purchasing a property it is certainly our recommendation that you apply for and obtain a LIM report from the local Council (i.e. Masterton District Council) on the property and upon receipt from the council you should go through it with your solicitor. There is a cost for this report and it generally varies depending on whether you require it in 5 days or 10 days. The costs vary between councils but are generally in the vicinity of $200.00.
What does "Unconditional" mean in regard to a Sale & Purchase Agreement ?
This in broad terms means that all conditions in the Sale & Purchase contract for the purchase of any land have been satisfied. e.g. If your contract is conditional upon mortgage finance being approved by your bank and upon a satisfactory LIM report then your contract becomes unconditional when your bank has formally approved your mortgage (loan) application to your solicitor and you are in receipt and happy with the LIM report as described above.What is a buyers market ?
When the demand for property is less than supply so the advantages shift to the buyer.
This page is work in progress and more FAQ's will follow shortly.