May 30, 2022
Conveyancing
Purchasing
Professional Property Conveyancing In NZ Is The Best Way To Get Ownership Of A Property Transferred
If you are buying or selling a property, you may be tempted to go the DIY or kit route to handle all the documentation and paperwork. While it is possible to get this done, the best advice would be to leave these tasks to the professionals. Property conveyancing in NZ can get tricky, and one slip up could cost you thousands of dollars down the track.
Read on the find out more about the steps involved in property conveyancing in NZ, and you will see what we mean.
1. Getting Started With Property Conveyancing In NZ
A complete inspection of the property needs to be conducted. Any defects, damage or abnormalities need to be noted at this point. All of these problems must be disclosed by the seller.
At this stage, negotiations will also begin often with the assistance of the real estate agent.
2. The Contract
The contract of sale can now be drawn up, usually by the real estate agent. If there is anything that you are unclear about, now would be an excellent time to obtain independent legal advice before committing to the sale. Your property conveyancing lawyer in NZ will ensure that all legal obligations and steps are being followed to make for a smooth process and less stress for you.
Once the contract is drawn up to everyone’s satisfaction, the buyer will sign and pay the deposit. The contract will be supplied to the seller in duplicate for signing, one to be returned to the buyer.
At this stage, the buyer is entitled to a five business day cooling-off period, during which time they may withdraw from the contract with no penalties.
3. Searches And Surveys
During this phase, the property conveyancing lawyer in NZ will research the property title through various departments and, if necessary, conduct a survey. Any objections to the property transfer will be handled, and transfer documents will be handed over to the seller.
4. Concluding The Transfer
Now, the buyer is obliged to pay the balance of the funds due for the sale. Once this is done, the seller will hand over all the documents required for registration and all the keys to the property. The registration of transfer can now happen, and ownership will be transferred to the buyer (or the finance house, where applicable). The relevant government departments can be notified about the change of ownership.
Make the process of property conveyancing in NZ easier to manage and less stressful by hiring the professional services of Law Hub today. Contact our experienced team to ensure all legal obligations and steps are adhered to while giving you peace of mind throughout the process.
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