Category: free auction report
In the wake of the horrific events on Friday the 15th of March 2019, we have all had occasion to reflect on what is happening in our little country. I thought (hell I think we all thought) that we were immune from this sort of horrendous hate crime way down here in the South Pacific but sadly, that naivety has now been proved wrong.
As my sister in law has just so eloquently and poignantly put it in a Facebook post, today we get to hug those we love, tell them we love them in person or give them a call or send them, a message, but for 50 families this week that is not the case.
Like many of you, I have been so impressed with the reaction of particularly Cantabrians, but in truth, all of New Zealand, in rallying around the Muslim community to show them that they are not alone, their pain is our pain and that we all hurting at this terrible crime which has been committed at their place of worship.
My business, like some other law firms, has tried to do its little bit by offering the services of our bi-lingual lawyer, Sandra Iskander, who speaks both English and Arabic fluently. That offer remains true and if any family affected by this dreadful tragedy requires pro bono legal services, you are welcome to call Kannangara Thomson on 377-4421 and, ask for Sandra in the first instance. If your legal query is outside the scope of her experience, she will find someone else who can help you.
I think we can all be proud of the reaction of our government, our country and our people. Evil cannot triumph where there is love, compassion, unity and understanding.
SELLING AT AUCTION
Selling property at auction has become almost the norm these days. From a vendor point of view it is often a clever ploy because if there is anything at all dodgy about a property it forces the buyer to do their due diligence and maybe ‘take a punt’ on that unpermitted old conservatory or load bearing wall removed without consent! If buying through the usual conditional contract structure a buyer is more likely to require a vendor to deal with such issues by obtaining a ‘certificate of acceptance’ from the relevant council or for older structures, having a report from a qualified professional added to the LIM file. From a purchaser’s perspective however, it can be an expensive exercise if you do a full due diligence exercise on a property at your own expense.
Vendors via their agent will traditionally provide a Land Information Memorandum (LIM) and sometimes, but not always, a building inspection report. For Canterbury properties it is also now common for all relevant EQC and Insurance related information pertaining to the earthquakes to be provided too. Of course, for a purchaser all of this means having a lawyer look through the auction pack and advise if there are any obvious issues with the information provided. It often adds up to in excess of 100 pages of information to be digested and reported on.
It might also mean a purchaser obtaining a building inspection report at their own cost too if one is not provided and you feel it sensible to obtain one or your lender requires one. As a purchaser it is also necessary to have your finance 100% sorted and, having insurance in place from the fall of the hammer if successful. For obvious reasons, if buying in Canterbury, having insurance in place is absolutely vital! On occasion you may even need a valuation for your lender. For first home buyers there is also the need to make sure you have Kiwi-saver preapproval and Homestart too if hoping to use those sources of funding.
FREE AUCTION REPORT
We won’t sugar coat it, if your conveyancing lawyer does the due diligence on the information provided properly and does not just give it a cursory glance, there is a bit involved. But if you are unsuccessful at auction two, maybe even three times and you get a bill from your lawyer for say $400 plus GST every time, it can get expensive very quickly. Add to that the possible cost of a building inspection report and valuation and you could be considerably out of pocket after a failed bid at auction.
so one of the services we offer for those looking at a property conveyance at auction is to review the particulars and conditions and all associated information and provide a written report, at no cost to our client. When you add that to the fact that when you are successful at auction our price for your conveyance is guaranteed once advised to you, and we have a lot of happy auction buyers. In our experience, the vast majority of people for whom we perform this service remember us and come back to us for their conveyancing when eventually successful, whether at auction or otherwise.