Tag: Property Conveyancing

Conveyancing Services – Shout Out For Conveyancing Practitioners

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November 10, 2011

Conveyancing Services – Shout Out For Conveyancing Practitioners

 

 

The Rugby World Cup is over, so we have decided to Shout Out For Conveyancing Practitioners. We want all of New Zealand Property Owners, Property Purchasers, Property Investors and Real Estate Professionals to be aware that they do have the choice to use the Services of Conveyancing Practitioners when they are selling, purchasing or refinancing.

The Conveyancing Profession has existed in Australia for well over the 30 years. The Real Estate Professionals and Conveyancers work together very much like a successful marriage to ensure that their Vendor and Purchaser Clients transactions settles on time, everytime.

So New Zealand get behind your Conveyancing Practitioners and take a stance like Donald Trump and fire your Solicitors and Lawyers who are undertaking your Property Conveyancing. You don’t need to be paying huge fees for your Conveyancing, after all Property Conveyancing is not a Supreme Court Case. Property Conveyancing is a specialised area of Property Law which Conveyancing Practitioners Specialise in. It is our area of expertise.

Want to know what it is going to cost for your Conveyancing to be done then click the link below: http://www.propertyconveyancingservices.com/free-property-conveyancing-quote.html

Lester Dempster took on the New Zealand Law Society who took every possible to action to stop the Lawyers and Conveyancers Act 2008 from ever making it off the ground, but in the David -v- Goliath contest representing himself all the way to the Supreme Court he won! Sadly Lester has passed, but there is a Special Award dedicated to his memory which is given to the top Student who graduates after completing the Diploma in Conveyancing from the Bay of Plenty Poly Technic.

And why did the New Zealand Law Society try and stop the Bill? Obviously because providing Conveyancing Services has not just been their bread and butter but the cream. And a rip off for the Property Vendors, Property Purchasers and Property Investors of New Zealand.

Even to this day the Legal Fraternity makes it as difficult as they possibly can for Conveyancing Pracititioners in a Property Transaction, and it has nothing to do with taking their Client’s instructions in a Property Transfer it is simply that they have their nose our of joint because they have competition and they don’t like it, so we say get over it!

Seriously I have been in Property Conveyancing since 1984 both in Australia and New Zealand and this scenario actually happened today on one of my clients transactions.

I must point out we are Licensed Conveyancing Practitioners under the Laywers and Conveyancing Act, we hold Professional Indemnity Insurance and Fidelity Insurance equal to Solicitors and Lawyers, we operate a Trust Account and are Members of the New Zealand Society of Conveyancers who are our Regulators.

In this Property Conveyancing Transaction I acted for the Purchaser, a Solicitor was acting for the Vendor. We both bank with the same Bank. We paid the funds for our Property Purchasers transaction directly to the Vendor’s Solicitors Trust Account, and provided an undertaking that the funds were cleared funds, and would not be reversed, stopped or dishonoured. He refused to accept our undertaking and requested we provide an undertaking from a Solicitor or directly from our Bank. I must point out we bank with the same Bank and the funds did appear in his account immediately in real time.

Furthermore the Conveyancing Lawyer would not release my clients dealing in Land on Line until he had confirmation from my Bank Manager that the funds were cleared.

I’m happy to say the Bank was ASB Bank, and when you do a tranfer from an ASB account to another ASB account the funds show up immediately and can not be stopped, reversed or dishonoured. The Conveyancing Lawyer was well aware of this but my Banker kindly sent the requested email.

So really another stand over tactic with a big stick, of which would not have been his client’s instructions but his own.

Property Conveyancing is a People business, and we are real People with real Families doing Property Conveyancing for real People.

Cheers Kim :)

 

 

 

 

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Property Conveyancing Terminology continued

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September 28, 2011

Property Conveyancing Terminology continued

 

Mortgage:  When you obtain your Finance from your Lender and have signed the Loan Agreements, the Bank will require you to provide security which is in the form of  a mortgage to be registered against the Title to protect their interest. Furthermore when you sell the property the Bank will require the loan to be repaid, and in return they will provide your Conveyancing Pracititioner with a Discharge of Mortgage.

Possession: This should be stipulated in the property transfer Agreement for Sale and Purchase. This is date upon which the Purchaser (Buyer) would take possession of the property being transferred from the Vendor (Seller).

Principal: This is the amount of funds you have borrowed from your Bank or Lender. i.e. $150,000 in addition to this would be the interest calculated on a daily basis on the principal amount you have borrowed.

Settlement: This should also be stated in the Agreement for Sale and Purchase. It is the date upon which the Purchaser pays the balance of funds to the Vendor to complete the property transfer. It generally is the same as the possession date. But not always!

Term of Loan: This is the period upon which the Purchasers loan is for. i.e. Amount borrowed $150,000 over a period of 25 years.

Title: The Certificate of Title is the register which is held at Land Information New Zealand. The Title to the property will hold the legal description to the land, together with any encumbrances which affect the use of the land. In New Zealand the types of Titles are Fee Simple, Cross Lease, Maori Land, Unit Title and Stratum Title together with Leasehold.

Valuation: Local Councils in New Zealand use Government Valuations to determine the rates to be set for the rating year. If you wanted an Valuation Report condition to be included in your Sales and Purchase Agreement you would need to instruct a Registered Valuer to provide you with the Report to determine the market value of the property.

Vendor: This is the person who is registered owner of the property on the Certificate of Title and who has the legal right to sell or dispose of the property.

I hope I have provided you with some basic Property Conveyancing Terminology to help you understand the common language used. If you require any further help please visit me @ https:www.propertyconveyancingservices.com

Cheers Kim :)

 

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Property Conveyancing Terminology

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September 25, 2011

Property Conveyancing Terminology

 

In todays blog I thought I’d outline some of the common Property Conveyancing Terminology used by our Profession so you maybe better informed when talking with your Property Conveyancing Practitioner:

  • Agreement or Contract: In New Zealand the Contract is prepared by the Real Estate Agent, Conveyancing Practitioner or Solicitor in a Private Treaty. This is document prepared when the Purchaser (Buyer) is ready to present an offer detailing the terms and conditions to the Vendor (Seller) on a property transfer. The document used in New Zealand is the Agreement for Sale and Purchase.
  • Chattels: These are the moveable objects to be left at the house and property when settlement has been completed. Generally being Carpets, Curtains, Drapes, Blinds, Light fittings, Dishwasher, Stove, Oven or what ever else has been agreed between the parties. It is very important to have every thing listed in the Agreement, so there is no confusion at settlement.
  • Conditional Agreement: This is the Agreement prepared between the parties but is subject to either the Vendor or the Purchaser completing and satisfying certain conditions within a specified time frame. Such as Finance Approval, Builders Report, Valuations, Approval of Title or a Land Information Memorandum, or whatever has been agreed.
  • Cross Lease Title: This type of Title is quite common in New Zealand, even though they can be a nightmare to deal with. This is when there is more than one dwelling (or Flat) on a Title. The owners of each property co-own the land, and each leases their own property which forms the Cross Lease Title.
  • Deposit: A percentage of the purchase price to be paid by the Purchaser will need to be paid as a deposit, this is generally either 5 or 10%, or what has been negotiated. This can be due and payable upon signing of the Agreement or upon the Agreement being confirmed unconditional. It is always in your best interest to have this paid upon unconditional.

It is always in your best interest to have your Conveyancing Practitioner check your Agreement prior to you signing.

Stay posted for an update on the terms used by the Conveyancing Profession and if you would like some more advice or help then please visit https://www.propertyconveyancingservices.com

Cheers Kim :)

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Online Property Conveyancing Services

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September 21, 2011

Online Property Conveyancing Services

 

It is interesting to see when you complete a Google Search how may Solicitors and Conveyancing Practices use the terminoloy of Online Conveyancing Services or Online Property Conveyancing Services, when in fact the only online capability they have is email services.

Property Conveyancing in New Zealand is Electronic Conveyancing and completed over the internet through Land Information New Zealand. In order to be able to complete Electronic Property Conveyancing you must be issued with a Digital Certificate from LINZ and this is only to either a Registered Conveyancing Practitioner or a Solicitor.

Property Conveyancing Services is both an offline Company and a true online Property Conveyancing Service assisting clients from all over the world and throughout New Zealand with their property transfers.

All our documents are delivered to our property transfer clients Electronically and we receive our Client’s Bank documentation electronically from their Lender.

Being an internet based Conveyancing Practice gives our property clients the freedom to deal with documents in their own time and in the comfort of their home. They are no longer tied to the traditional office day times of 9-5 which in a lot of instances is more of an inconvenience than convenience.

We provide our clients with quotes up front when requested http://www.propertyconveyancingservices.com/free-property-conveyancing-quote.html so they are able to factor the legals costs in to other expenses they may incurr such as  Agents Commissions, rates and moving costs.

We are currently in the process of building a list of Property Professionals to link to us who have come of age and entered into the 21st Century of internet technology.

You can be assured that when you are dealing with an Online Property Conveyancing Professional such as our business your transaction is being looked after by a Registered Conveyancing Practitioner.

So if you are looking for the best and only alternative to look after your Property Transfer give us a try you wont be disappointed.

We have had the added bonus of working with one of the UK Leading Software Developers Athium who I highly recommend enough. Don’t think because they are UK based they can not help you. Check them out :)

http://www.athium.com/

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How To Keep Your Deposit Safe in a Property Transaction!

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September 14, 2011

“How To Keep Your Deposit Safe in a Property Transaction!”

 

The average person purchasing a property may not be aware that when the Agreement for Sale and Purchase is prepared by the Real Estate Agent they will ask you how much deposit you will be paying. This will generally be 10 or 20 percent of purchase price being paid for the property transfer.

As an example if you were purchasing a property at a price of $350,000k you would need to have @ 10% $35,000 deposit or @ 20% $70,000.

It is very important that the deposit is noted on the Agreement for Sale and Purchase to be paid upon the Agreement being confirmed unconditional and not at the date of signing.

The deposit will be paid to the Real Estate Agent and held in their trust account for a statutory 10 working days from the date the Agreement is confirmed unconditional, after this period has lapsed the Agent is paid their commission due and the balance of the deposit is sent to the Vendor’s Conveyancer or Solicitor to make up part of the settlement proceeds.

It is not uncommon for Conveyancers and Solicitors to receive a request for an early release of the deposit prior to the 10 working days. Your Conveyancer and or Solicitor should seek your approval as the Property Purchaser before authorising the release.

Who ever is nominated to act for you in the property transfer should check with the Vendor’s Conveyancer to ensure they have sufficient funds to repay any mortgage which maybe required to be discharged at settlement. You do not want a situation of settlement day to discover that the Vendor’s do not have sufficient funds to release any security or charge against the property.

It is therefore wise on your behalf to appoint a Professional to handle your Property Conveyancing and Property Transfer – ensuring your biggest Property Investment is protected.

Property Conveyancing Services Limited is the National Online Conveyancing Company who will do exactly that – Protect your Interests!

Cheers Kim :)

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