We Kiwis love our real estate – in my experience, though, there are some who aren’t quite so enamoured with the checks and balances needed when buying a property.
Our ability to access the ‘great outdoors’ in New Zealand is seen as something of a citizen’s right. At times, however, It does conflict with the rights of private landowners when, in order to access the great outdoors, there is a need to cross their private land first.
Most laws tend to have initial bedding-in challenges. In the case of the new foreign buyer legislation, it’s the failure by would-be buyers to complete a crucial new form – an oversight so significant, it’s already derailing sales and causing financial grief.
We’ve received several requests lately to provide a heads up on what happens when one property owner damages another party’s land. Where do responsibilities and obligations begin and end, we’ve been asked. And, not surprisingly, the big question: who pays?
Following on from last week’s blog exploring some of the key considerations when buying property, this time we’re looking at some of the important factors vendors have to stay across.
The property market’s never far away from the headlines these days – but whatever the state of the market, properties will still be traded, and the same old legal considerations are just as important to ensuring your interests are covered.
Anyone looking to buy land in New Zealand who is classified as an “overseas person” will need to sign on the dotted line before next Monday (October 22) or, otherwise, be subject to the new foreign buyer rules.
Talk about a hot spot. The old adage “neither a borrower nor a lender be” is all good in theory – until you’re a doting parent confronted by your desperate, cap-in-hand child, all too aware you hold the only key to them getting into their own home.
