Property - our tips for you
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If you are selling a unit title property, talk to us about your legal obligation to make statutory disclosures to the buyer and when you have to make them.
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A LIM will provide a purchaser with information the council holds about the property. It will show whether existing works have received council consent and whether the council requires any remedial work. It might, for example, show a fire burner has been installed without the appropriate certification. A LIM report will also give you information about any site characteristics (such as contamination, propensity to flooding, etc) and zoning details. You can ask the seller to fix any defects disclosed in the LIM and cancel the contract if the seller refuses to do so.
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Auction agreements are usually significantly different from standard sale and purchase agreements. For example, you can’t make an offer subject to finance or conditional on checking title matters and council records after the auction, so you need to make these inquiries before bidding.
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Don’t sign more than one agreement to sell your property unless it is absolutely clear that the subsequent agreement is a back-up that will take effect only if the first one falls through.
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As a purchaser, if you are eligible to withdraw from your Kiwisaver account, you may also qualify for the Homestart Grant. The Homestart Grant pays $1000 for every year you’ve been a member of Kiwisaver, up to a maximum of $5000, for an existing home. It pays $2,000 for every year you’ve been a member, up to a maximum of $10,000 for a brand new home.
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A property transaction is like an iceberg. You, as the client, will see only a small part of the work that needs to be done to complete the deal. Behind the scenes, we will make sure that it goes through with the minimum of fuss.