infonews.co.nz
INDEX
REAL ESTATE

Property Buyers Auckland Represent Good Industry Standard

Wednesday 21 June 2017, 1:47PM

By Beckie Wright

259 views

Following the recent case of an Auckland woman pulling out of the sale of her home to a private house buyer, Hadar Orkibi of Property Buyers Auckland is quick to claim that his company works in a different way, laying out his own policies for ensuring sellers head into a deal with their eyes wide open.

"We often put a clause in it that gives the seller the opportunity to consult with their lawyer before signing the agreement, or their seeking their lawyer's approval of the agreement before it becomes fully binding. Even if they sign an agreement, their lawyer needs to approve it. And then there are no hiccups.

"Often, we recommend sellers to commission their own registered valuation, if they want to have an accurate idea of the value of their house. If you want to know how to protect the seller, those two things are the things we always recommend sellers do."

Orkibi says an advantage of selling to a private home-buying company is a fast sale period, ideal when sellers are short on time. And, he adds, most sellers contact him, not the other way around.

"Some people don't want the hassle of open homes and traffic through their house. They could have personal reasons, health reasons, sometimes they're old and don't want to be tidying up the house. Sometimes it's a marriage split and they just don't want to deal with the hassle. That, and sellers don't have to pay commission, as they would to a real estate agent.

His company makes money by ‘adding value’ to the properties it buys, ‘whether it's by subdividing, whether it's by renovating’, before on-selling. For example, Property Buyers Auckland's most recent purchase was a home in New Lynn, which will be torn down for three townhouses to be built on the section, then sold.

The company rarely buys new houses - and if such a seller approaches him, Orkibi says he'll happily suggest a conventional real estate agent who may be able to assist. "I think everyone is always looking for a good deal, and there are some people out there who are going to be a little more unscrupulous in their behaviour and the manner in which they approach people. I think it's difficult to get rid of them, but I think with proper guidance and advice, and there's certainly plenty of tools available, to buyers to enable them to not fall into the trap of underselling."

For more information please go to http://propertybuyersauckland.co.nz  .