Before you purchase your property, you should ensure you carry out a thorough inspection of the house so you will not be faced with unexpected repairs when you move in.

A good real estate agent can be a useful source of advice and assistance.  For example, they will have access to information about valuations and recent sales in the area that may help you work our a realistic offer.  A list of questions to ask are:  Have the owners already purchased another home ?  How long has the property been on the market and what level of interest has there been ?  What is the Rateble Valueation ?   What facilities and schools are in the area ?  Is the house north facing - when does it get the sun ?  Is it sheltered ?  Is it noisy (traffic, trains or planes) ?  Are there any flooding or erosion problems ?  Are there any development plant, zoning restrictions, etc ?  Are there any covenants or easements ?  Are there any protection orders over the trees or buildings ?  Where are the boundaries ?  Is the home suitable for renovation ?  Could the section be sub-divided ?  Does the home need any urgent repairs ?  Have any alterations / renovations been carried out and if so, do they have consents ?  Has the home been re-piled, re-plumbed or rewired - and why ?  What heating and insulation does it have ?  What chattles are included in the price ? 

Take your time.  Look around.  Never feel pressured by the agent of the vendor into making an offer when you are not certain.  Feel free to go back and look at a house again and to take a friend or family member with you for advise.  Go back at different times of the day to check for sunlight or traffic noise.

Ways to Buy:

Here is an overview of the different ways you can buy a home. 

Offer and Negotiation -  The property is advertised at a set asking price.  You can put in an offer at or below the asking price.  Your offer can include conditions i.e. inspections, lim reports or registered valuations.  The seller may accept your offer, reject it or make a counter offer.  The real estate agent acts as the go-between for buyer and seller until an agreement is reached.

Auctions - no price is set.  Interested buyers simply turn up on the day and bid for the property.  The seller sets a minimum or "reserve" price (which is not divulged to bidders).  Once the bidding reaches reserve price the property must be sold to the highest bidder.  Finance, inspections, valuations, etc has to be done beforehand.  Once a property is sold at auction the sale is unconditional and the deposit is paid. If the bidding does not reach the reserve price the property is "passed in".  The highest bidder is then given first chance to negotiate for a sale.

Tenders - no price is set.  Interested buyers submit a written offer on the tender documentation, which may include conditions.  All offers are confidential.  All tenders are opened at the same time, and the seller considers them.  The seller does not have to accept the highest or any offer.  The seller may choose to negotiate on any of the tendered offers. 

Private Sale - private sales almost always use the offer and negotiation method.  The difference is you will be dealing directly with the seller rather than through an agent.