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
New Conduct and Client Care Rules will apply to all Real Estate agents from Monday 8 April 2013.
While the new rules are largely very similar to what was in place previously, they do include some important changes which all agents should be aware of. The changes include:
- An expansion of the requirements about obtaining legal or other technical advice before signing agency agreements and Agreements for
Susan, a real estate agent, was contacted by a “Mr Brown” from the UK who was intending to purchase a certain property that Susan had listed online. She thought that the email was drafted in unusual English for a native English speaker, but Mr Brown seemed to know a lot about the area where the property was located, so she entered into email discussions with him, and sent him an… Continue reading
Karl, a first home buyer, was hoping to buy a property in a Wellington suburb. Helen is a real estate agent selling a property that Karl was interested in.
When they discussed putting an offer on paper, Karl indicated to Helen that he wanted his friend Tom who is a building apprentice to look over the house to ensure that he wasn’t buying a lemon. Karl didn’t want a… 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
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