mattyboyholland
28th October 2006, 10:18 PM
Hello,
Im a first time buyer and Im scared !
Im interested in a four bedroom house in the North Island, it a really nice and ticks most of the boxes. The section is 1995m2. I haven't placed a bid but am close to doing so. When I visited the property the agent said, you must be aware but the lower section of the land "might" be in the process of being sold off (300m2). She said it might not happen and the council has set a deadline of 16th November. If no one has filed an application to buy this 300m2 by 23rd Nov it returns to the owner of the original section.
The section is quite long and the part that is for sale is so far away and so far down the hill - if a new house is built it shouldnt effect the view in any way.
Actually found a point that I could see the land in question (as quite over grown) and someone has started digging and there's a load of wood and metal piled up down there.
My main concern is the title and the value lost. This house is being advertised with a set GV for 1995m2 ... when it will actually be 1695m2. Im waiting on the first draft of the contract and my lawyer is ready and waiting.
These are the questions I have :
What does this do to the title ?
What does this do to the GV value and plans ?
Will the Lim reprot highlight the use of this land ?
Will the new owner of this 300m2 of land have any ownership of my land ?
All big concerns. I like the place but am wondering how to bargin with this in mind as the GV value isnt a fair reflection of the cost ( due to less land).
Hopefully the contract should arrive on Monday for me and my lawyer to go through.
If any of you lovely people can provide me with some pointer I would be most grateful.
Best Regards Matty Boy.
Im a first time buyer and Im scared !
Im interested in a four bedroom house in the North Island, it a really nice and ticks most of the boxes. The section is 1995m2. I haven't placed a bid but am close to doing so. When I visited the property the agent said, you must be aware but the lower section of the land "might" be in the process of being sold off (300m2). She said it might not happen and the council has set a deadline of 16th November. If no one has filed an application to buy this 300m2 by 23rd Nov it returns to the owner of the original section.
The section is quite long and the part that is for sale is so far away and so far down the hill - if a new house is built it shouldnt effect the view in any way.
Actually found a point that I could see the land in question (as quite over grown) and someone has started digging and there's a load of wood and metal piled up down there.
My main concern is the title and the value lost. This house is being advertised with a set GV for 1995m2 ... when it will actually be 1695m2. Im waiting on the first draft of the contract and my lawyer is ready and waiting.
These are the questions I have :
What does this do to the title ?
What does this do to the GV value and plans ?
Will the Lim reprot highlight the use of this land ?
Will the new owner of this 300m2 of land have any ownership of my land ?
All big concerns. I like the place but am wondering how to bargin with this in mind as the GV value isnt a fair reflection of the cost ( due to less land).
Hopefully the contract should arrive on Monday for me and my lawyer to go through.
If any of you lovely people can provide me with some pointer I would be most grateful.
Best Regards Matty Boy.