The process of purchasing a property in New Zealand typically involves the services of a real estate agent but is also highly recommended to seek the services of a New Zealand property lawyer or conveyancer, especially if you are unfamiliar with the country’s property laws and regulations.
Our New Zealand attorneys team provides valuable legal advice and services related to property purchases, including reviewing contracts, conducting title searches, and ensuring compliance with relevant laws and regulations. We also have an experienced team of property lawyers in Auckland to help clients with all their legal needs related to buying, selling, or managing property in the Auckland region.
Buying a property in New Zealand
Before starting the buying process, building a support team consisting of New Zealand lawyers, insurers, and bank or mortgage brokers is important. This gives you a better understanding of what needs to be done and what can be afforded.
Conducting research and obtaining information from the LIM (Land Information Memorandum) report, which provides information about a specific property in New Zealand, and from the record of title, the legal document that confirms ownership of a property in New Zealand can be helpful. This enables you to identify any potential hazards and issues with the property in advance, allowing you to make a more informed decision about whether or not to proceed with the purchase. Our real estate lawyers in NZ can guide you through the tax implications associated with purchasing a property in New Zealand.
Understanding the offer process is important when considering the purchase of a property, and this may vary depending on the chosen method of sale used to sell the property of interest. Typically, the agent or the seller provides a Sale and Purchase Agreement. If you’re purchasing a property through a private sale in New Zealand, it’s highly recommended that you engage the services of a property lawyer in NZ to review the agreement before you sign it.
Whether you’re looking to buy a property in Northern New Zealand, our Auckland property lawyers can assist you in finding the right property for you.
Property types in New Zealand
New Zealand has four main types of property ownership: freehold, leasehold, unit title, and cross lease. Our New Zealand property lawyers can review the record of title, which is a legal document that provides essential details about the property, such as its legal description, ownership, and any registered rights or restrictions.
Freehold, or fee simple, grants the owner complete and indefinite ownership of the land and buildings on it, while leasehold ownership involves purchasing the right to possess the land and buildings for a set period, with the land owned by someone else. Unit title ownership is common in multi-unit building developments, and cross-lease ownership involves a shared freehold title with other cross-leaseholders, along with a leasehold interest in the specific area and building occupied.
Freehold ownership is one of the most popular choices in Christchurch, for example. Contact our Christchurch property lawyers for more details about freehold ownership and how can you benefit from it. If you’re dealing with leasehold property in New Zealand’s largest city, our team of property lawyers in Auckland can provide you with expert legal advice and support.
Selling a property in New Zealand
You can sell your property through a real estate agent or privately, each having its own advantages and disadvantages. Regardless of the method you choose, we suggest that you seek the services of our law firm in New Zealand to review the sales agreement before signing it.
The sale and purchase agreement can be either conditional or unconditional. Opting for an unconditional contract offers more certainty that the purchaser will complete the purchase, and typically requires an immediate deposit upon signing the agreement.
Our property lawyers in Hamilton, NZ, can assist you with the sale of your property in Hamilton, Auckland, or the surrounding areas. They can safeguard your interests and keep you informed of any legal concerns or obligations that may emerge throughout the property-selling process. We also remind you that no matter if you’re buying, selling, or leasing property in Auckland, property lawyers can provide you with comprehensive legal support throughout the process.
Buying a property in New Zealand is a wise investment for foreigners, as demonstrated by the following statistics:
- More than 30% of all property sales in New Zealand are in its largest city, which highlights the importance of having a good support team, including property lawyers in Auckland, to assist with your property transaction and ensure that your legal interests are protected;
- There were 1,719 property units sold in Auckland in 2019;
- There were over 50,000 private dwellings in Hamilton, according to a 2018 census by the New Zealand government;
- Over 50% of citizens in Christchurch owned or partially owned a house in 2018.
Our property lawyers in Auckland are very familiar with the city’s property market and regulations, while our Hamilton property lawyers in NZ can offer information about rural or agricultural properties. In the Canterbury region, do not hesitate to reach out to our team of property lawyers in Christchurch. If you’re interested in buying a property or if you have any questions about real estate matters, our law firm in New Zealand is here to help.