The transaction of a sale or purchase of property is at the verge in New Zealand now-a-days. It is imperative to be clear about the checklist and the tasks which you need to perform before you enter into any such transaction for the smooth and successful sale and purchase of your property. We provide you our services to take you through the entire cycle of these transactions.
How can we help in the sale and purchase of your property
The steps which we will do for you with regards to the sale and purchase of your property are listed below:
- (i) Draft, prepare and vet the sale/purchase agreement.
- (ii) Negotiate the terms and conditions of your sale/purchase agreement.
- (iii) Conduct a title search in the case of purchase whether the title is free from any claims and/or encumbrances.
- (iv) Coordinate with the purchaser’s/seller’s attorney to conclude the arrangements of transfer.
- (v) Ensure that the title to the property has been successfully transferred.
The above-mentioned are the key steps to be taken in all the sale/purchase transactions, however, this list is not exhaustive and there are a few more tasks to be conducted which we will help you through. You will just need to sign and instruction and authority form to authorise us to deal with the transaction on your behalf.
Considerations when entering into property transactions
Before entering into the sale/purchase transaction, there are a few factors you require due diligence on. The factors are explained below:
Other than the procedure of transfer as ascribed by the law, all the mutual terms and conditions agreed between both the parties are explicitly listed in the sale/purchase Agreement. Therefore, in case of any ambiguity, you must ask your attorney to clarify you the same. Also, especially in the case of purchase, you need to procure as much information as possible regarding the building plan, approvals, NOC’s etc. because only the agreement is signed by both the parties, it creates a legally binding relationship between the parties.
(ii) Procuring Legal Title:
This is to be considered where there are two or more people who are purchasing a property. They have two options, either to get an ownership with joint tenancy or tenancy in common. In the case of joint tenancy, both the owners are jointly owning the complete property and in case of death of any one owner, the survivor becomes the exclusive owner of the entire property. Whereas, in the case of tenancy in common, that is not the case and both the owners have their separate shares in the property and there is a need to have property sharing agreement in place.
(iii) Town Houses and Home Units:
In case of purchase of town houses or home units, there is a range of titles for which you should discuss with your attorney before entering into any property transaction of Town houses or home units.
Law firm required?
Fortune and Manning deals with all kind of property dealings and guide our clients through the entire procedure in the case of any such transactions. We prepare and review documents to the best interests of our client. We ensure prosperous transfer of the property title with giving least botheration to our clients during the entire course of procedure.