The Real Estate Authority (REA) recently launched a new website: settled.govt.nz. It provides information useful for both property buyers and sellers new to the process in New Zealand.
Written for the residential market, it takes an independent look at property transactions both from a financial and lifestyle perspective. The aim is to unravel what can sometimes be a complex procedure to create more confident and informed buyers and sellers.
It is written with empathy…
‘Tackling anything for the first time is daunting, especially when it’s likely to be the biggest financial decision you’ll ever make.’
And content is easy to digest and find. For those considering property transactions, it can only help with good decision making. From a property lawyer’s point of view, clients who ask the right questions and know when to seek advice are more likely to get a better outcome. This website is a recommended resource for property newbies.
Still in an early phase but its current articles cover selling properties owned by family trusts; the use of multiple versus sole agents; understanding the multi-offer process and the disclosure obligations of the seller. A link to Kevin Lampen-Smith’s poorly named Stuff column ‘Is now the right time to buy a house’ gives buyers a useful process to work through before making the buying decision.
Test your property knowledge on the quizzes, tick off the checklists and crunch the numbers on the mortgage calculator. The resources section also houses relevant videos and guides. At the risk of getting sidetracked, I note the guides are available in both English and Chinese – what about Te Reo Māori, that other official language of our country?
Buying or selling?
You can browse the rest of the content according to whether you are buying or selling. It is pretty comprehensive and will no doubt be honed over time with user feedback, which generously welcomed.
If you want to know more about property transactions in NZ and need to distract yourself from real estate agents’ windows and websites, enjoy a trawl through settled.govt.nz to find out if there are any gaps in your property knowledge.
By Debra Dorrington