Buying with a mortgage

What we will take care of:

• Open our file, obtain your details, prepare and forwarding you our letter of engagement
• Receive and peruse the sale and purchase agreement
• Search and check the title and any interests noted on the title
• Report to you regarding the contract, the title, and the interests on the title
• Monitor confirmation of any conditions in the agreement (eg finance)
• Request extensions of time for confirmation of conditions (if necessary)
• Confirm any conditions in the agreement (i.e. finance, title search, building report, LIM)
• All steps necessary to set up an e-dealing in Landonline for registration of the change of ownership and your mortgage with Land Information New Zealand
• Prepare and forward preliminary sale notice to seller’s lawyer
• Search local/regional council records to check that details of any outstanding loans in respect of insulation work
• Check the rates on the property to make sure there are no arrears
• Receive and check the settlement statement from the seller’s lawyer, check that rates (and levies and rent, if applicable) have been correctly apportioned
• Receive loan instructions from your bank lender and attend to disclosure
• Prepare loan documents for signing
• Prepare Client Authority & Instruction Form for you to sign for registration of the transfer of ownership to you and your lender’s mortgage
• Request/arrange insurance certificate of currency and ensure that the insurance policy meets the bank’s/lender’s requirements
• Meet with you to sign the Client Authority & Instruction Form and loan documents
• Prepare and sign a solicitor’s certificate for your bank
• Send the loan documentation, insurance certificate and solicitor’s certificate to the bank/lender
• Sign and certify the transfer and mortgage documents on Landonline
• Prepare preliminary statement of account
• Prepare for settlement
• Obtain a guaranteed search of the title
• Receive seller’s solicitor’s undertakings
• Receive and receipt loan advance into our trust account
• Receive any contribution being made by you into our trust account
• Attend to settlement and notifying seller’s lawyer
• Attend to registering the transfer of the title into your name and registration of the mortgage in favour of the bank/lender
• Receive a post registration search of title and mortgage.
• Report to your bank/lender
• Report to you

Additional fees will apply on the following circumstances:

• Private sales and purchases (where no real estate agent is involved)
• Drafting any agreement for sale and purchase
• Any pre-contract negotiations or advice
• Ordering, reviewing or advising you on a building, valuation or LIM or engineer’s reports etc
• Where the property is being purchased by a Company or a Family Trust
• Where one or more purchasers are using their Kiwisaver First Home Buyers Deposit
• Where there are guarantees involved
• Where the property being purchased is a cross lease or unit title
• Where the documents have been sent out for signing or you require more than one meeting to sign the documents
• Where the property is being sold subject to an existing tenancy
• If you require settlement and registration of a second mortgage
• Where the bank/lender has required special conditions on their offer of finance;
• Where the transaction is urgent