Desperate home-buyers warned against neglecting property checks

  • Wellington’s property market has become so hot that desperate buyers are dispensing with vital checks such as builders’ reports, valuations and legal advice.

With multiple buyers chasing sought-after homes, many are taking the risk of making unconditional offers without getting the full battery of reports and advice.

“I would say three-quarters of deals are cash unconditional,” Tommy’s Wellington agent Nicki Cruickshank said.

“When the market is slower, people can make offers subject to LIM, builders’ reports and valuations, but when the market is hot people have to have no conditions on their offer to have a possible chance of buying.”

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checks

123rf.com
Pressure to get on the property ladder means many prospective home buyers are not doing their due diligence homework.

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