Source : Auckland Property Law Firm - Quay Law.
A finance condition should not be viewed as an option for being released from an Agreement for Sale and Purchase. Past New Zealand court cases have highlighted this issue and purchasers have found vendors taking them to court for having cancelled an agreement based on non-satisfaction of a finance condition where the vendor has subsequently found out that the purchaser has purchased another property for the same or even a greater amount.
Purchasers should consider the inclusion of a due diligence clause within their agreement, as this would give them the option of legitimately declaring the Agreement to be “at an end”.
It is always advisable to ask your Conveyancer / Property lawyer to review your Agreement for Sale and Purchase prior to it being signed by you.
Quay Law are a legal services and conveyancing law firm based in Auckland, New Zealand. We aim to provide the highest possible level of legal services to our clients and our conveyancing team and property lawyers are proud of the work we perform for our clients and the satisfaction that they express with our services. A property lawyer’s basic work is to be involved in securing title over property transactions. Our conveyancers work on transactions regarding property in residential contexts and commercial transactions with all different types of properties. The types of properties can include residential houses, factories, office space, unit tile and cross lease and any other type of property. To contact your Auckland law firm Quay Law.
Posted by Auckland Law Firm, Quay Law on 22/05/2013
Conveyancing – Dating the Agreement for Sale and Purchase.
Our conveyancing lawyers’ advice for all parties to a Sale and Purchase Agreement is to always make sure the agreement is dated once it has been signed and initialled by both the purchaser and the vendor.
The dating should occur once all initials are completed, and this is especially relevant if there has been an offer and counter-offer situation.
For more information regarding your property purchase or sale please contact the Auckland law firm team at Quay Law.
Quay Law is an approachable commercial, trust and property (conveyancing) law firm based in Remuera, Auckland, New Zealand. The experienced conveyancing staff and lawyers at Quay Law enjoy working with a diverse range of successful companies and private clients. Our approachable lawyers offer legal services such as conveyancing, leasing, family trusts, wills, asset protection, tax matters and more. http://www.lawyerinauckland.co.nz
Posted by Auckland Law Firm, Quay Law on 12/05/2013
Conveyancing is the term used to describe the legal work required to transfer the ownership of real estate from one person or entity to another.
As discussed in previous updates, a contract for sale and purchase is a legally binding document and (in general) you cannot simply change your mind once a contract is signed unless there are special conditions. It is advisable to consult with your property lawyer prior to signing the agreement however it should be noted that on the fall of the hammer at a property auction the agreement becomes an unconditional legal agreement.
Approaching your experienced lawyer and conveyancer for legal advice before signing any documentation is the best way to ensure that your interests are protected. Please see our lawyer’s article on the conveyancing and property transfer process for some general property transfer and conveyancing information.
Our lawyers and conveyancers are able to meet the demand for approachable and affordable legal advice in the areas of Property Law, Commercial Law, Trusts, Wills and other legal services.
For more focused information and to contact our Auckland law firm team for a no obligation discussion please call Quay Law on Ph (09) 5232408.
Posted by Auckland Law Firm, Quay Law on 15/04/2013
Conveyancing with Quay Law.
Auckland law firm Quay Law are a legal services and conveyancing law firm based in Auckland, New Zealand. Our conveyancers aim to provide the highest possible level of legal services to our clients and we are proud of the work we perform for our clients and the satisfaction that they express with our services.
A conveyancers (property lawyer’s) basic work is to be involved in securing title over property transactions.
During the property transfer process, our conveyancer’s work on the transfer of title whether this be for residential or commercial transactions. Often there is mortgage finance or refinancing involved with the property transaction.
The types of properties can include residential houses, factories, office space, unit tile and cross lease and any other type of property.
Quay Law and the property law team is a law firm based in Remuera, Auckland. Our conveyancers and lawyers specialises in providing legal services for mortgage refinancing, conveyancing and property transactions. Our Auckland law firm also provides legal services for a range of other legal work.
Contact Quay Law
Posted by Auckland Law Firm, Quay Law on 02/04/2013
Peace of mind comes with a Property Lawyer
For trusts, wills, buying or selling a property, leases, or anything property related see the team at Quay Law or visit to http://www.lawyerinauckland.co.nz/contacts.html
Posted by Auckland Law Firm, Quay Law on 24/03/2013
Source stuff.co. nz
At the end of each month, real estate agencies send REINZ the details of all the property sales they handled that became unconditional during the month. REINZ then collates the information and usually releases it within a couple of weeks.
That means its monthly property market report is based on sales information that is usually no more than six weeks old when it is released and will include price information that is less than two weeks old, making it timely.
Quotable Value uses information sent to it after a property sale has been settled.
Solicitors doing conveyancing work have a legal obligation to forward QV the details of property sales once settlement has taken place. This is fed into a database that local councils use to update their rating valuation rolls.
So QV may not receive its sales information for a couple of months or more after a sales contract becomes unconditional, depending on how long the settlement period was and how promptly the lawyer forwarded the information.
That inevitably leads to a debate among market commentators about which set of information is best, QV’s or REINZ’s.
What are your thought?
Posted by Auckland Law Firm, Quay Law on 17/03/2013
Are you in the process of, or considering, refinancing your existing home loan. If so there are various legal requirements that need to be dealt with and it is best to involve your property lawyer from the outset.
To discuss further with our Auckland conveyancing and refinancing lawyers please contact our Quay Law legal team.
This legal tip is shared with you by the team at Auckland law firm – Quay Law. These regular legal tips cover a range of legal topics. We discuss all legal matters from estate planning, to wills and estate administration, tax and IRD (Inland Revenue Department) matters, residential and commercial conveyancing and property law, family trusts. social media law, leasehold properties, commercial leasing and much more. Although situated in the Auckland suburb of Remuera we are able to support clients overseas and across New Zealand.
Posted by Auckland Law Firm, Quay Law on 13/03/2013
Conveyancing is all the legal legwork needed to buy or sell a home whether this be an investment property or home for your family. There are a number of important legal steps involved, which include title searches and contract preparation.
When buying or selling a home it’s important to get the right property law and legal advice from the start.
If you are buying a property, our property lawyers | solicitors can help make sure the purchase is smooth and effortless, by providing advice at every stage until you complete the purchase. If there is no real estate agent involved we can prepare an offer for you.
Pleases visit our Quay Law Conveyancing and Property Law Website.
Property law website.
Posted by Auckland Law Firm, Quay Law on 18/02/2013
Questions to ask about Leasehold properties and land shared by Ian Mellett | property law firm in Auckland | Quay Law
•When are the reviews?
•How is the value of the land determined? Is it considered bare land or developed?
•How possible is it to buy the lease? And when?
•How hard might it be to sell the property?
•Are there land restrictions? (ie. no sleepout or added buildings)
To speak to a property lawyer contact the Quay Law team. Ph 09-5232408
Posted by Auckland Law Firm, Quay Law on 26/12/2012