Property Conveyancing Servicesn

Contract Writing

Welcome to our latest newsletter, firstly the shortest day is behind us and spring is not to far away. All White did us proud and the All Blacks are back in form. Let’s see how they go against the Aussie.

Contract writing and conditions; The conditions in an Agreement for Sale and Purchase when written correctly create an obligation for the parties to use all reasonable endeavours to fulfil the condition.

Lets look at the Finance condition – this condition should be written to note who the Lender is, how much is required and the date for satisfaction. Example we are acting for the Vendor and receive notification the Agreement is cancelled as the Purchaser has not been able to obtain Finance. In this situation we would require evidence in writing confirming the Finance could not be obtained prior to acceptance of cancellation. Again we would require such evidence if we were acting for the Purchaser.

When writing a condition keep the following in mind -

1. What needs to be done?

2. Who is going to do it?

3. Who is going to pay for it?

4. When does it need to be done by?

5. What is going to happen if something is discovered?

6. Who is going to pay to fix it?

For any help please remember we are just a phone call away
 

Title Searches

Cross Lease Titles and Improvements

It is a well known fact that Cross Lease Titles provide quite a number of headaches in particular this is when the owner has made improvements to the existing dwelling which are enclosed and have not been noted on the Flats Plan. So how can we overcome this:

1. Search the Certificate of Title, Flats Plan and Lease at the time of listing.

2. Check with the Vendor in advance and ask the right question? Have you made any improvements to the property which are not noted on the Flats Plan. Also do the improvements have the necessary Council Approval.

3. If the answer is yes then you can discuss further with your client and us as to what are the best options to resolve the problem.

If you find out later you then have the problem of disclosure.

If you have any topic which you would like us to cover please email kim@propertyconveyancingservices.com

Real Solutions for Real Estate People

Best wishes the team at Property Conveyancing Services