One of the last boxes to tick before settlement day is the pre-settlement inspection. You’ll all be familiar with the concept and no doubt have had some interesting experiences. If the property is being sold with vacant possession, the agreement gives the purchaser the right to enter the property on one occasion to examine the property, chattels, and fixtures which …
The holiday period is fast approaching and for us lawyers it means lazy summer days with a glass of Pimm’s by the pool. However, for clients and real estate agents it can be a time of confusion and frustration as to what’s happening when. Under the ADLS agreement the definition of ‘working day’ excludes any day in the period from …
Most of you will have heard the term ‘Bright-line test’ being passed around in conversation, but how many people really understand what it means? This article explains what the bright-line test is and how it’s applied. The bright-line test will apply to residential properties for which an agreement to purchase (note this isn’t settlement date) was entered into, on …
Like most lawyers, we encourage our clients looking at a property to get a LIM report. A strong move towards vendors providing LIMs has meant we’re reviewing more than ever before. You may have come across lawyers who strongly recommend that purchasers get their own LIM and that they shouldn’t rely on one provided by a vendor. The reason for …
As we’re sure you have experienced, selling a tenanted property can have its complexities. So, we thought it would be useful to recap a few of the important things to be aware of. Landlords must let their tenants know their selling Landlords must let their tenants know in writing that they’re selling the property. While most landlords know this, it’s …
Those of you operating in the inner-city market will be well versed in unit title ownership as it’s the most widely used form of multi-unit property ownership. However, as we also see unit title ownership in the suburbs as well we thought it would be useful to give you a bit of a recap of unit titles. What is a …
Recently, we’ve seen significant growth in the Wellington residential property market and many of you were no doubt thinking that it was about time! With a growing number of buyers and a pool of housing that was struggling to meet that demand, the conveyancing landscape quickly changes. From agreements 4 years ago that were full of ‘further terms of sale’, in …
