Every buyer of real estate has certain rights regarding the purchase of a property.
Every buyer of real estate has certain rights regarding the purchase of a property.
The following is a précis of your rights:
- You have the right to be represented by a real estate agent in the capacity of a “Buyers Agent”, exclusive or otherwise, to protect your best interests. In Vanuatu it is the norm for the Vendor to employ a Real Estate agent for a fee based on the eventual sale price.
- You have the right to purchase any/all properties that you choose, without being discriminated against by a Seller on the basis of your race, colour, religion, handicap, familial status, or national origin.
- You have the right to complete disclosure of all property information, including, but not limited to, water supply, insulation, waste disposal system and hazardous materials.
- You have the right to ask for information regarding the previous year’s property taxes, and/or maintenance and utility expenses.
- You have the right to receive a copy of the Agreement of Sale, prior to signing it, to allow you time to have it reviewed by your representative.
- You have the right to choose the lender that will finance the property and to receive full disclosure from that lender regarding the type and term of the loan and the true cost of the loan.
- You have the right to test and/or inspect the property’s systems and to choose the person(s) to complete those tests or inspections on your behalf.
- You have the right to walk through the property one last time prior to transfer of the lease to confirm it meets the conditions of the Agreement of Sale.
- You have the right to use the homeowner’s insurance company if you choose.
- You have the right to nominate whomever you wish to manage your property if it is to be rented.
- You have the right to employ whomever you wish in the property providing they are in agreement and fulfil the current employment regulations.
- You have the right to review the land lease agreement prior to signing.
To find out more about how Vanuatu’s leading real estate agent can help you contact us.