Green Door Real Estate’s founders/owners Gary and Dee Le Petite have set up their low cost agency service on Auckland’s North Shore.
Tag Archives | Sale and Purchase
Recently a US client asked me whether New Zealand Courts enforce non-compete/restraint of trade covenants (Non-Competes) against the sellers of New Zealand businesses. If New Zealand law governs the agreement, the short answer is: yes, to the extent the Non-Compete is “reasonable”.
Earlier this year the Christchurch Council lost its accreditation as a building consent authority. It failed to meet criteria necessary for the accreditation.
Most residential property developers use the NZS 3910 standard form of building contract. It’s used for infrastructure works for a subdivision or for building high-rise apartments.
Agents and lawyers – they have always been down the list in the popularity stakes. Property developers have not fared much better. Real estate agents have been working hard to improve their rankings. It’s impacting on sellers of property in an unexpected way. REAA looks out for the consumer – the buyers and sellers of property.
It’s tricky – anticipating what the bank will want; especially if your plan is to change lenders once development funding is needed. It definitely involves wearing a banker’s hat.
Finding the deposit for a first home is a huge financial hurdle and around two thirds of first home buyers obtain a high loan-to-value ratio (LVR) loan. The LVR is simply the amount of lending compared to the value of the property, and an LVR of more than 80% is considered to be high.
The increasing demand for housing in Auckland has fueled a return of residential apartment developments. The availability of affordable apartments could be seen as a welcome relief to those struggling to get their foot in the rising Auckland property market.
Introducing propertyROOM.co.nz. A way to ensure potential buyers of residential property receive proper explanations about issues in the title and LIM reports. Read more about the propertyROOM here.
A recent proliferation of webinars on the new agreement for sale and purchase and GST has raised some interesting points. Zero rating will still apply to the sale of a taxable supply but the sale and purchase of land now requires the parties to examine their GST positions and determine whether the transaction is compulsorily zero rated.
Fee simple ownership is true exclusive ownership and possession of the land and buildings on it. It’s ownership of what is below and above the ground (as is reasonable). Yes, others do get a say – for example the neighbours might have a say over fences; Council in terms of compliance with the District Plan or the Building Code and there are all sorts of other legal rules that impact your ownership – trespass, nuisance etc. But it’s as good as it gets.
I’m constantly asked about how to choose a good renovator, so in my ongoing attempt to educate my readers, here are a couple of examples. Basically, I look for a property where I can keep a big portion of the existing fixtures and fittings. For this blog post I am focussing on exteriors, so I’ll be concentrating on what parts of the outside I don’t need to replace or spend a lot of money on.