Tag: Code Of Compliance

Property Transfer – Do It Yourself Disasters

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October 25, 2011

Property Transfer – Do It Yourself Disasters

Where to start – I read an interesting article on the weekend about Kiwi’s and DIY Disasters on property ownership.  Apparently Labour weekend accordingly to ACC is the biggest weekend for accidents for home owners.

We all love to renovate our properties, especially when we are getting a property ready for sale. The issues and dangers arise when we under take renovation works which we are not qualified to do such and electrical works, plumbing, roofing and other structural alterations.

We could also be putting our own safety and family at risk. As an example nearly everyone weekend in New Zealand someone either dies or it left severely disabled when they fall of a ladder.

Undertake renovation works such as painting and decorating but it is in your best interest to engage qualified trades people to complete other types of works for your property transfer. I would also recommend when using trades people make sure they have the appropriate insurances in place, and check their trade certificates.

If you are undertaking a major renovation to your property make sure you have the appropriate consents from your Local Council and check with your Lender to see if their consent is also required. This will need to be done before works on your property transfer commence.

One of the biggest problems we encounter during the Conveyancing process is where works to property have been completed and there is no Building Permits or Code of Compliance Certificates issued by the local Council. This then requires an appointed Building Inspector to inspect the works and submit a Report to the Council that the works have been carried out in accordance with the Building Act and that a Safe n Sanitary Report can be obtained.

Another major is that should the works be illegal is your insurance at risk?

Stay posted Cheers Kim :)

 

: Property Conveyancing News
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Conditional Agreements

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April 14, 2010

Property is being purchased and sold on a daily basis. Unfortunately many people do not understand the legal terminology used when a Contract is being drawn up on their behalf. In this article we are going to explain in plain English the legal terminology of what a Conditional Agreement is.

Conditional

When you enter into an Agreement for Sale and Purchase is will be made subject to certain conditions which need to be satisfied by either the Vendor or the Purchaser.

Examples of these conditions are

1.Subject to the Purchaser obtaining Finance on terms and conditions acceptable to the Purchaser. This may also include the amount of funds and the name of the Lender.
2.The sale of another property.
3.A Valuation Report.
4.A Builders Report.
5.Land Information Memorandum or
6.The Vendor obtaining a Code of Compliance for an illegal structure.

These are but to name a few.

The emphasis is that both parties will have a legal obligation to take all necessary steps to ensure their conditions can be met and confirmed making the Contract conditional upon the terms specified.

If for any reason either party were not in a position to satisfy any of the conditions there is generally a provision allowing either party to cancel the Agreement or negotiate on further terms.

Ensure you read the fine print in the Agreement as these also form part of your obligations. It is highly recommended you consult with a Conveyancing Practitioner prior to signing any Agreement to ensure your interests are protected. This is part of your own due diligence.

It always pays to be safe rather than sorry later.

Again we would love your feed back and let us know if the information we are providing is of value or if there is a topic you wish us to cover. :)

: Property Conveyancing News, Uncategorized
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Code of Compliance Certificates

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October 7, 2009

A Code of Compliance Certificate is issued by Council when the Council is satisfied with any building works to a property have been completed under the consent complies: – The New Zealand Building Code at the time of issue of the building  consent (for consents issued prior to 31/3/2005) or the building consent for consents issued from 31/3/2005. Once the Code of Compliance Certificate has been issued it will be recorded on any LIM Report and on the property file held by Council. For building consents issued from 31/3/2005 projects should be completed within 2 years of the granting of the building consent. If the works do not comply the Council will issue a notice to fix identifying areas of non-compliance. What are the benefits to you the property owner?

  • Selling your home.
  • Applying for loans or other financing.
  • Applying for insurance.
  • Safety and peace of mind.

Before undertaking any project contact your Local Council about the process.

Happy renovating.

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Property File

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October 2, 2009

As a Purchaser is it very important to complete a search of the Property file held by the Council. Each file may contain different information. Here are a few of the common items found on the property file.

1. Building Permits/Consents and associated Plans.

2. Project Information Memorandums.

3. Code of Compliance Certificates.

4. Subdivision Consents.

5. Resource Consents.

6. Drainage Plans.

7. Building Warrants of Fitness.

8. Hazard, Caution and Information Notices.

9. Planning Restrictions.

10 Planning Certificates of Compliance.

If you need any assistance to obtain a copy of the Property File do not hesitate to contact us and we will help you. Warm Regards Kim

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