In this episode, we discuss the steps between going unconditional on a property and settlement. These steps include:
- paying your deposit into a solicitor's trust account. You solicitor will collect the funds to execute the transaction
- make additional payments to your developer if you are using a progressive payments model. You don't need to do this if you are using a turn key model
- conduct a pre-settlement inspection to make sure the property is presented as per the contract with all agreed chattels
- get a loan approved through your bank if your previous preapproval has lapsed
- Receive a valuation or a certificate of completion
- receiving a chattel valuation to maximise the depreciation you can claim from the IRD (to decrease your tax). If in need of a reputable company, we often recommend Valueit
We also mention that we are holding a property investment webinar this coming Tuesday, 7th April @ 5 pm. We’re going to open up our analysis of 165,000 data points to see which parts of New Zealand are likely to see the deepest downturns and the speediest recoveries. You can sign up to the webinar here.
