Unless the market is red hot it is normal to offer less than the asking price.
I don't get why you guys even look at the rv would you look at the council tax band of a uk house and use that to form a price, it's insane!
make up a number, offer that subject to valuation, go to your bank and get the bank to value it for you, change your offer to match if needed. it's the only safe way for an immigrant to buy a house.
gorrrrr that sounds harsh it's not meant to be I'm just trying to say you need professional conservative help to value a house if you don't know the market so go ask the bank. let me add this, I've known a kiwi offer less money for a house because the garden was too big, as she put it too big for a garden to small to put to work...... it's just more work, oh I've also seen another kiwi drop an offer unless the swimming pool was filled in.
so get a valuation by someone with a vested interest, the bank, tell them your placing a minimum deposit, that makes them really extra careful.
And the cost of selling over here is so high then it's a big cost.
And over here you can buy and be in within 2 -3 weeks. So the cost of a hotel for 3 weeks tops in the context of the risk you're taking is surely worth considering. It's not like the UK where it takes months from seeing a place to being in.
Put offer in. Agent says it is an insult and vendor won't respond. I said they were unlikely to sell their house if they won't discuss offers with purchasers and was I correct in thinking the house had been on the market since Feb without an offer, Felt like a right cow, my friend who viewed the house laughed at me and said that was normal negotiating in NZ.
The golden rule is never offer the asking price .allways come in lower but not too low,say 10%.This will probably be rejected but then you come up until an acceptable price is met.We offered 10% less on our land and ended up saving 5%. As said already try to find out the average price in the area.
For me - If Im looking at a property and REALLY want to know what to offer - id pay for an independent registered valution. That would tell me the absolute maximum I would pay for that property if im buying it to live in. The best reason I can see for doing this rather than using a "rule of thumb" of 5-10% above or below is that some sellers' ideas of what there home is worth in the current market are (to put it politely) a bit far out
any estate agent will give you a record of recent sales. also once a property has an offer accepted - eg the day after a tender - the agent will tell you what the property went for. we've been keeping a big list of each one we've seen, what condition it was in, what the rating valuation is, how much they asked for it (eg BEO or if the agent was prepared to discuss a guide price) and finally how much it went for. once you are thinking about making an offer on a specific property you can get a QV report which costs about $35. this tells you a bit about the property (legal title info, floor area etc) and gives a likely selling range and a list of other local relevant sales (address, date of sale, size of the property - both inside and the size of the section, what its constructed out of, how much it sold for)
Cost to buying a property in New Zealand Edit
Costs of buying property in New Zealand are fairly low since there is no stamp duty and the estate agent's fees are typically paid by the seller of the property. You will need to budget for the following:
- Solicitor's fee - $1,000 to $2,000 depending on the extent of the searches to be carried out - more for further assistance with immigration/taxation etc.
- Valuation fee - $400-$500
- Transfer fee - $50-$70
- Building inspection report - $400-$500
- Land Information Memorandum - contains information from the local council on the boundaries, building consents for the property etc. $100-$400
If you are buying with a mortgage, you will be required to pay a registration fee of approximately $50. All these figures include GST (Goods and Services Tax) which was increased to 15% in October, 2010.