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Hi neighbours,
I'm looking for a piece of plywood preferably 2.2m x 1.030 for my funky new shed floor. If anyone has some they want to discard please let me know. Many thanks!!!
Renee
Auction Preparation
Property is often purchased and sold in New Zealand, particularly in a seller’s market, via auctions. However, buyers frequently underprepare for an auction and are caught out when the hammer falls.
When purchasing at auction, a buyer is making an offer unconditionally. In … View moreAuction Preparation
Property is often purchased and sold in New Zealand, particularly in a seller’s market, via auctions. However, buyers frequently underprepare for an auction and are caught out when the hammer falls.
When purchasing at auction, a buyer is making an offer unconditionally. In essence, this means that the highest bidder over the reserve (being the lowest sum that the seller determines it will sell at) is making a binding cash offer and entering a binding agreement with the seller.
Accordingly, buyers need to have completed all of their due diligence investigations and asked all of their key questions before the auction.
Talk to the agent
Before attending and bidding at an auction, buyers should obtain as much information as possible about the property by:
• Talking to the listing agent;
• Reviewing the history of the land and the buildings via reports provided by the seller, the agent or purchased via a lawyer or the local council; and
• Asking questions about the number of parties interested in bidding at auction and at what price such parties are registering their interest.
Some of the types of reports that a buyer might need will be contained in the agent’s auction pack.
Any buyers considering a bid should register their interest with the agent.
If a third party makes a pre-auction offer, the auction must be brought forward. As such, interested buyers will need to be prepared to bid at the early auction, including having funds available to pay the deposit which must be paid on the auction day.
Review the auction terms and conditions
The agent should provide potential buyers with a copy of the auction terms and conditions of sale.
Buyers should review these terms carefully, to ensure that the proposed chattels list is correct and that the settlement date is practically and financially achievable.
Buyers should also be checking these terms to see whether any standard conditions have been deleted or varied, including disclaimers of warranties or information about a property. This aspect (if not the terms as a whole) should be reviewed by a lawyer for certainty.
Get legal advice on the title
In becoming the buyer, the successful bidder will have accepted the legal title to the property (the instrument that details the key legal interests and restrictions that apply to the land) and the auction terms and conditions of sale. It is, therefore, extremely important that prospective buyers seek advice on the title before attending an auction; prudent buyers will also have taken advice on the auction terms and conditions of sale.
If, in obtaining advice, a buyer discovers an issue with the property, agreement or the title, he or she may raise such an issue as part of pre-auction negotiations. In some instances, variations may be agreed such that they apply in respect of the successful bid as between the seller and the particular buyer that negotiated such variations.
Due diligence
A Land Information Memorandum (LIM) is a report prepared by the relevant Council which provides historical and current information relating to the property, land and any buildings. Prospective buyers are strongly advised to obtain a LIM report.
A LIM report enables a buyer to ascertain whether buildings and/or structures on the land which require consent, such as a dwelling, spa pool, garage or fireplace have been approved by the local council. In addition, a LIM report may provide information on the zoning of the area and natural hazards.
Builder’s report and contamination testing
Obtaining a builder’s report entails engaging a qualified builder to perform a pre-purchase inspection, and provide a written report outlining any significant building defects. A comprehensive builder’s report can be expected to include advice on fences, paths, retaining walls, foundations, insulation, ventilation, plumbing, drainage, structures and roofing materials.
Contamination tests are also becoming more common. Contamination tests measure toxicity within a building, and provide information on whether it is safe to work or live in. High toxicity levels may result in health risks and time consuming and costly decontamination processes.
Finance
As auctions are based on potential buyers making unconditional offers to the vendor, it is essential that any necessary finance is arranged prior to bidding at auction and that buyers are in a position to draw down the funds on the designated settlement date.
Summary
In summary, buyers should gather as much knowledge as possible on a property before bidding at an auction. Doing so will enable buyers to better set a purchase price that they may be comfortable bidding to; it will also help the bank and insurance brokers to give a keen buyer the promises and backing that he or she needs to bid.
Considering bidding at an auction?
Contact Michael Bendall on (03) 327 8159 or michael@corcoranfrench.co.nz (Kaiapoi) or
Rowan Aspros on (03) 379 4660 or rowan@corcoranfrench.co.nz (Christchurch).
In response to the "mental health crisis in Christchurch", one art studio is showcasing the power of…
Are you following these tips to promote respect and prevent abuse? Elder Abuse Awareness Week runs from the 15-22 June 2017, starting with World Elder Abuse Awareness Day on 15 June 2017. Help Age Concern help older Kiwi's live happily and safely in their own homes and neighbourhoods. … View moreAre you following these tips to promote respect and prevent abuse? Elder Abuse Awareness Week runs from the 15-22 June 2017, starting with World Elder Abuse Awareness Day on 15 June 2017. Help Age Concern help older Kiwi's live happily and safely in their own homes and neighbourhoods. #alwaysrespected #WEAAD2017
Aftersocks NZ is a Rural Women New Zealand (RWNZ) initiative that supports rural communities, following an adverse event or natural disaster which has left them in need of financial assistance. Proceeds from the sale of Aftersocks contributes to the Rural Women New Zealand Adverse Events Relief … View moreAftersocks NZ is a Rural Women New Zealand (RWNZ) initiative that supports rural communities, following an adverse event or natural disaster which has left them in need of financial assistance. Proceeds from the sale of Aftersocks contributes to the Rural Women New Zealand Adverse Events Relief Fund.
Thanks for your support neighbours! Buy, Wear & Share!
Inland Revenue is warning of several scams circulating this tax season. Inland Revenue revealed earlier this month that there is about $183 million of tax refunds sitting unclaimed – enough to fly first class from Auckland to London and back more than 11,000 times.
Since then the IRD has been … View moreInland Revenue is warning of several scams circulating this tax season. Inland Revenue revealed earlier this month that there is about $183 million of tax refunds sitting unclaimed – enough to fly first class from Auckland to London and back more than 11,000 times.
Since then the IRD has been alerted to a scam email that asks users to enter their personal details to claim their tax refund. The email has the subject line, "IR3 individual income tax return 2016".
It's important to remember the IRD will not:
- Advise you that you are due a tax refund through email
- Send an email with a link to a webpage which asks you submit personal details
- Ask for credit card details or bank account numbers over the phone in order to process a monetary payment
- Ask you to pay a tax debt using gift cards or vouchers
- Sent you an email that does not include or ask for your IRD number
If you receive a suspicious email, SMS scam message or a fraudulent call please email phishing@ird.govt.nz or call them on 0800 227 774 (make sure you have your IRD number).
Log on to the Inland Revenue's website, register for myIR and use its calculator to work out whether you are owed money or have tax to pay.
Wakefield Electrical are Master Electricians servicing Christchurch and Darfield. We listen, understand your requirements, and suggest a range of solutions to suit you. As a locally owned and operated business, the most important thing to us is that you are happy with the work. Our highly … View more
Wakefield Electrical are Master Electricians servicing Christchurch and Darfield. We listen, understand your requirements, and suggest a range of solutions to suit you. As a locally owned and operated business, the most important thing to us is that you are happy with the work. Our highly skilled team are ready to be scheduled at a time convenient for you so call us.
What Electrical Work Do You Need Help With in Christchurch?
•New Builds
•Renovations
•Repair & Maintenance
•Industrial Maintenance
•Heat Pumps
•Solar
•Home Automation
•Test & Tag
#wakefieldelectrical #renovations #christchurchnz #newzealand #nz #oxfordnz #christchurchelectrician
Are you a recent victim of a burglary in Christchurch? We'd like to hear from you. Please email reporters@press.co.nz or send us a private message.
Modern, traditional, colourful or neutral, Resene has thousands of wallpapers available to suit all homes and projects. Come in and browse through the huge Resene wallpaper library to find the right wallpaper for your place. Use the Resene in-store colour library to find your favourite Resene paint… View moreModern, traditional, colourful or neutral, Resene has thousands of wallpapers available to suit all homes and projects. Come in and browse through the huge Resene wallpaper library to find the right wallpaper for your place. Use the Resene in-store colour library to find your favourite Resene paint colours to complement your new wallpaper.
Come in and see your local Resene ColorShop, your paint and wallpaper experts.
The Sydenham Heritage Church rubble will be fully cleared from the site within the next two months, …
Come in to The Pharmacy @ Phillipstown and we can test you blood pressure, for FREE!
We are located at 270 Ferry Road, next to The Ferry Road Medical Centre.
Have as nice day :)
So many people asked for this, we came up with a second edition. This hits newsstands today! Get your copy before they're all gone.
Age Concern New Zealand is running an "Elder Abuse Hits Close to Home" awareness campaign in June. Did you know that more than 75% of alleged abusers are family members? We hear awful stories in the media of older people being abused in care facilities, scammed on the internet or taunted … View moreAge Concern New Zealand is running an "Elder Abuse Hits Close to Home" awareness campaign in June. Did you know that more than 75% of alleged abusers are family members? We hear awful stories in the media of older people being abused in care facilities, scammed on the internet or taunted by the general public, but for thousands of older New Zealander's the abuse happens in their own home. Please get in contact with your local Age Concern if you suspect a family member, friend or neighbour is being abused. We can Help. #WEAAD #alwaysrespected
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