Buying a house is a stressful process in itself, but if you’re competing for a purchase in a seller’s market, which has been the case for some time, the pressure can be intense. If you’ve felt the impulse to make a snap decision, or made an offer without due diligence, we want you to imagine the stern look on your lawyer’s face when you hand over the paperwork.
In these property briefs, we have three situations which seem straightforward, but often aren’t, which can land the unwary in hot water. We take a look at the implications for landlords when tenants sell their business, what those boxes mean on Agreements for Sale and Purchase, and the difference between ‘joint tenants’ and ‘tenants in common.’
How to avoid buying a property with insurance problems, how to protect your property title from unwanted searches, and how to avoid a hefty expense when selling a cross lease property with an altered flat plan. Here are the answers.
Rental properties are an excellent source of income if you need extra money, want to pay off your mortgage faster or save for your retirement… unless your tenant doesn’t pay their rent. If this happens, property lawyers advise you to take a deep breath and follow the appropriate steps to get rent payments back on track. These are the steps you need to take.
People sometimes hurry into an agreement to lease commercial property. Time is money and delays to setting up a business can mean delays to generating income.
What many people don’t know is that you can still use your KiwiSaver funds to purchase a home owned by a trust, or partly owned by a trust.
An easy way to make a bit of money while you’re on holiday is to rent out your property as an Airbnb. However, it isn’t as simple as getting a booking and flying away. As an Airbnb host, you’ll need to consider income tax, GST and an ownership structure. Here’s what you need to know to get set up before you set off.
You have just moved into your new home and your neighbour knocks on your door. They say that your garage is two metres into their boundary.
It’s surprising that when selling property, the seller often pays little attention to the terms of the real estate agent’s listing agreement – particularly when there may a substantial sum of commission involved.
If you’re looking at renovating your house, you should be aware that a building consent may be needed for more work than you think. Replacing your bathroom with ‘like for like’ is not as simple as that as many people don’t realise a building consent is required for wet rooms and tiled showers.