Articles related to ‘Agent Care’
Ava and Nick are looking at buying a unit titled apartment. Before they signed an Agreement for Sale and Purchase, they wanted the vendor to obtain details of accounts and funds held by the Body Corporate, so they could get an idea of whether the Body Corporate would be able to fund any future works required on the building or whether extra levies would be required.
They discovered that… Continue reading
Reminder – It is the duty of the landowner to ensure that stormwater running off their property is properly discharged into either a private or public drain. Landowners are not permitted to allow their stormwater to run into waste water drains, onto the road or across someone else’s property without special arrangements having been made with Council and the other affected properties… Continue reading
Timing for real estate agents is very important. Regular contributor and lawyer Claire Coe explains.
Chris, a real estate agent, was very excited when he finally received an offer on a house which he had found difficult to sell. He arranged for the purchaser to sign an Agreement for Sale and Purchase that day. The purchaser requested that settlement date be 60 days out from the date of signing… Continue reading
Tip #1 – Who is the Vendor?
When preparing contracts it is very important that the parties to the contract are correctly described. The Vendor will usually be the person or persons named as the registered proprietors of the property on the title.
We had a recent example where a property was owned by a company but the contract was prepared with the names of the shareholders in… Continue reading
Deposit or Bank Bonds are an alternative to paying a cash deposit on a property which maybe yet to be built or have title issued. So what is the best way to explain this to clients? Simply put, it is a way to enter into an agreement for sale and purchase without requiring a cash deposit while providing the vendor with certainty that the deposit would be paid if required… Continue reading
Mortgagee sales can be a danger zone and as a selling agent it is important to be aware of the potential pitfalls, minimising potential risks for the buyers and for yourself …
Tip 1 – Legal Advice
The term ‘buyer beware’ applies more than ever in the context of a mortgagee sale, but making the risks absolutely clear to prospective purchasers is the best way to avoid having… Continue reading
This Bill (if enacted) replaces the Real Estate Agents Act 1976. It establishes the Real Estate Agents Authority to oversee licensing, complaints, disciplinary and enforcement processes, set industry standards, and provide information to consumers. The Bill also:
- Creates a Disciplinary Tribunal administered by the Ministry of Justice to deal with more serious complaints.
- Sets out licensing processes and makes provisions for a public register.
- Sets more
The District Court in the “Whitehead decision” has on reconsideration ruled that a BEO equated to an “actual price”. As a result several local Real Estate Firms have decided not to use Buyer Enquire Over advertising and care must be taken when using it.
With property prices so variable at the moment and the possibilty of an appeal, we recommend getting clear instructions (preferrably in writing) from clients about… Continue reading
With the large volume of property work that we assist clients and Real Estate Professionals with every year, we see many situations where Agents miss out on commission or face major delays in payments.
We have set out four traps which you and your team need to be wary of.
Trap One: Failure to get your vendor’s written appointment of you as agent
The effect of not… Continue reading
We often have enquiries from agents and clients regarding cross leases. As agents will be aware, purchasers can be nervous about buying cross leased titles. The idea that their dreams of extending the property cannot be fulfilled can sometimes be too much for them! There can also be difficulties when there have already been extensions carried out on the property, which make the title defective. The good news is these… Continue reading
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