At the Du Val Group, transparency is key. The more you know about how we develop, invest and connect people with the right property, we figured, the better. This is why we’ve put together a play by play list of what happens when you buy a property with us. So when you do start looking for your new home or investment, at least with us, you know what to look forward to.
When we meet people, quite often the first thing they want to know is: “How much are your properties?”. It’s a bit hard to answer this question effectively and this is because we develop at scale. At any one time we’re building up to 300 properties that range between $525,000 and $1.5million.
So here’s what we start with:
1. Understanding your finances and creating a strategy
We sit down and ask you some questions about where you’re at financially. Things like: Do you already own property? Will you be living in your new property? Have you got equity you can leverage? How much have you got in savings? If it’s your first property, we can help you find out if you’re eligible to use your KiwiSaver funds or an up to $20,000 HomeStart grant. We’re in it for the long run. Once we understand what your financial capability is, we’ll show you what a long term property-focused wealth strategy could look like for you. The idea behind this strategy is to help you create the lifestyle you want over time by acquiring investment property that creates equity and produces cashflow.
2. Match you with the right development
We build a diverse range of projects, from terraces in Mangere Bridge to dual-key apartments in the heart of Manukau City. So it’s important we understand your budget and property goals when selecting the right development. If you’re planning on living in your new property we’ll look at things like, where you work, how you get there, what kind of amenities you want to be close to, that sort of thing. If you’re looking to invest, all of our properties are built with rental demand and capital gains in sharp focus. Whether you’re looking for an upmarket apartment with a health and fitness centre or a low maintenance investment property, we’ll have a project that suits you.
3. Selecting your property
Now that we’ve matched you with a project you like, it’s time to find the right property for you.
In this step we’ll ask you questions like:
When buying property off the plan, the early bird gets the worm. So once you’ve found the property you like, submit an Expression of Interest (or EOI) to us and reserve it!
FYI: An EOI isn’t a contract, it just reserves the property so others know there is someone in the process of acquiring it.
4. Viewing your property
Depending on the size and progress of the project, you may even get to walk through your property during its construction! For those who are able to view their apartment, this is such an exciting part of the process because you get an in depth look at how your property is being built. During the site visit you can see things like the view from your property, the type of insulation used, that kind of thing. But don’t forget to wear covered shoes and either pants or shorts, climbing up scaffolding steps in a skirt can be a tricky exercise.
5. Going conditional
Great! You’ve selected the property you want, you may have even gone to see it under construction. Now is the time to sign a conditional contract. This means you agree to purchase the selected property on the condition that you can get financing and your lawyer is happy with the agreement.
6. Due diligence The due diligence period is your opportunity to make sure you’re covered on all bases. It’s during this stage that you will need to bring together your deposit and work with mortgage broker to find a bank or a lender to finance your property. You will also need to have a lawyer look over our contract and ensure you are protected in this transaction. You can engage your own lawyer and mortgage broker or connect with our extensive network of professionals.
7. Going unconditional
Once you and your lawyer are happy and you’ve got approval from a bank or lender - it’s time to go unconditional! Upon the signing of your unconditional contract, your lawyer will transfer your 10% deposit into a trust account held by our lawyers, iClaw Culliney Partners until settlement. As the developer we have no access to your deposit until settlement has been reached and a Code of Compliance Certificate has been issued.
Once construction on the development is complete, you’ll receive a final Code of Compliance Certificate. This is a certificate from the Council to say that your property complies with the regulations they set out to be fulfilled during the construction period. Once you’ve received this, you’ll gain access to your new property and congratulations, it’s all yours!
9. Move in
Wohoo! It’s time to move in!
All of our properties come with the option of purchasing a furniture package. If you have purchased one, we will have it moved in for you ready to be used! The great thing about furnishing our properties is that you don’t need to move your own furniture in and avoid leaving any marks or dents on your new walls or door frames.
To book a meeting with one of our helpful team members, simply enter your details below and we'll be in touch with you as soon as possible.