Publications > Property Articles
Watch this space: OIO Consent process to be improved
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Assistance for OIO Process
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Have you received a letter from the Public Works Act acquisition
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Kiwisaver changes help home buyers get a foot in the door
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New Information Requirements When Buying or Selling Land
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Kiwisaver Updates – 1 April 2015
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New Lending Restrictions in Force
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Selling a Unit in a Small Body Corporate
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Kiwisaver and Your First Home Purchase
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Your Legal Property Checklist
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Real Estate Agents and REINZ Memberships
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GST On Land Transactions: Compulsory Zero-Rating
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The Status Of Land Can Impact On Its Value
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Fortune Manning Advises Manson Developments on Sale of Tower
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Amendments To The Residential Tenancies Act 1986
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Property – Try Before You Buy
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The Changing Face of Real Estate Agreements
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Buying Real Estate off Plans? What to look for!
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Courses of Action Available to Tenant Where Landlord Refuses to Grant Renewal of Lease
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Residential Tenancies – What Landlords Need to Know
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Land Information Memorandum – A Useful Tool to the Residential Property Purchaser
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Open Home Theft
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Agent’s Duty to the Vendor Might Include and Obligation to Meet the Purchaser
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Driving Daisy Crazy – Shared Access Ways
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Buying Real Estate at Auction
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Open Home Theft
Recently, there have been a growing number of thefts from properties during Open Homes.
For you, as a potential home seller, it is important to consider what steps you can take to prevent theft occurring during an Open Home, or if a theft occurs, whether your insurance will cover you.
Generally, the prevention of theft may represent a better alternative than the cure of insurance. It is therefore wise to take practical measures such as placing valuable items either out of sight or under lock and key before the Open Home is conducted.
If the theft does occur you can look to your insurance policy for cover. However, there are two matters you should keep in mind when making a claim. Firstly, policies often depend upon showing that the home was actually broken into before accepting the claim. In the case of Open Homes, as the house is freely accessible to the public, the thief may steal an item without the need to break and enter. If your policy includes this provision then you probably won’t be insured.
Secondly, the policies often require that “reasonable care” be taken by you in preventing the theft of property. Whether you have taken reasonable care will depend upon what security measures you have in place before the Open Home.
It is advisable that you discuss with the real estate agent, before the Open Home, the security measures that agent will put in place to prevent a possible theft occurring.
However, in recent times, real estate agents have been seeking exemptions from home owners, the effect of which is to prevent that agent from having any liability in the event your property is stolen.
If you have got any doubts about the Open Home process, please contact one of the Fortune Manning property team.