Articles related to ‘Agent Care’
Many agents will be aware that the Wellington City Council is extremely busy processing LIM applications at the moment. This means that the Council is not currently accepting any urgent LIM applications and they are generally taking longer than 10 working days to issue a standard LIM report. It is important that you please take this into consideration when preparing an Agreement for Sale and Purchase.
This also means… Continue reading
An Auckland real estate agency has won an appeal about selling a property without disclosing that a suicide occurred in the garage about a year before the sale.
A brief reminder about the original ruling by the Real Estate Agents Disciplinary Tribunal:
- The Tribunal agreed that the agency was guilty of unsatisfactory conduct.
- The Tribunal also agreed that the Committee was correct to make no further
The latest edition of the Agreement for Sale and Purchase now includes a question at the top of the front page about the Vendor’s GST position. Vendors are required to answer “yes” or “no” as to whether they are GST-registered.
The Purchaser only then needs to fill in the GST schedule if the Vendor has answered “yes” to that question.
We recommend you obtain information from the Vendor… Continue reading
Bill, a real estate agent, was selling a property that had recently been renovated. The Vendors had informed him that a Code Compliance Certificate had issued for the renovations.
Bill passed this information on to prospective purchasers, who relied on this information when making their offers.
The offer, which the Vendors ended up accepting, was conditional on finance and a LIM report. The Purchaser’s bank needed a copy… Continue reading
Barbara is an experienced agent employed by a reputable real estate agency. She had a proposed purchaser contact her from overseas regarding one of her listings. This purchaser was soon to visit New Zealand but resided overseas. She was planning a visit to purchase a property for her son to live in while he attended university in New Zealand.
The purchaser duly arrived in New Zealand and met with… Continue reading
As a matter of best practice we recommend that you document or record in a file note any conversations or meetings between you and a vendor or a purchaser. These can be vitally important in case of any dispute about what was said. These file notes can be used as evidence if any conflict arises about what was discussed.
Given you are often on the move as part of… Continue reading
Our below article was published in a recent REINZ magazine and was very well received, so we would like to share it with all of those who receive our Agent Care newsletter as well.
A couple owned an apartment in a complex of 4 unit titled apartments. After owning the apartment for 10 years, they put it on the market through a real estate agent. The agent asked them for… Continue reading
Another decision by the Real Estate Agents Disciplinary Tribunal has placed even more emphasis on agents to not only search the title to a property but to also have an understanding of the implications of any covenants.
The facts of the case before the Tribunal:
- A couple with a young child purchased a property in a retirement village-like complex without knowing that the title was subject to
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
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163-171 Featherston Street
PO Box 689, Wellington 6140
Phone: 04 473 6850
Fax: 04 473 9304
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