21 Jul Conveyancing and weathertightness issues
Once again weathertightness issues regarding a property purchase have been highlighted. It is important to ensure yourSaleand Purchase Agreement includes the necessary conditions to enable your release from the property purchase should weathertightness issues be uncovered during the due diligence process. It is vital that you undertake an independent building survey as part of this due diligence process prior to declaring the Agreement unconditional.
Ask your building surveyor / inspector to look particularly for signs of water damage or potential leaks. They should use a moisture meter. These devices are generally non-invasive meters that can indicate moisture problems and water leaks without making holes in the walls. However, not all defects can be found, so ask the person doing the inspection to highlight the areas they couldn’t check and identify risk areas that might warrant further investigation.
It is once again opportune to highlight that if you are purchasing a property at an auction, you are deemed to have completed your due diligence prior to the auction and the purchase is unconditional on the fall of the hammer.
For more information regarding your conveyancing transaction please contact our property lawyers at Auckland law firm, Quay Law Barrister and Solicitor.