Choosing a lawyer
It's a good idea to choose a lawyer early so that if you need help you can call upon them immediately. They will also offer you good advice on what to ask for in a Sale and Purchase Agreement when you do find a property that you like.
In complex matters, they will prepare the Sale and Purchase Agreement for you to protect your interest.
We can refer you to a lawyer or you might like to try www.nz-lawsoc.org.nz or www.propertylawyers.org.nz or by contacting the Property Law Section of the New Zealand Law Society, PO Box 5041, Wellington. Phone 04 472 7837.
They will provide details of an associated Property Lawyer in your area.
Your lawyer's job is to protect you, explain your rights, do the legal paperwork and make sure everything is in order with
the Certificate of Title and the council records.
Your Lawyer will
- Search the Certificate of Title.
- Attend to any requisitions. That is, if they find anything that is not correct on the LIM or Certificate of Title, the lawyer asks the Vendor's lawyer to fix it. If the Vendor does not wish to address this, the Purchaser can cancel the sale.
- Prepare complex Sale and Purchase Agreements for you to protect your interest.
- They will often wish to peruse and approve the Sale and Purchase Agreement before you sign it.
- If required, assist in arranging extensions of time necessary to enable any conditions, finance or terms of sale to be completed.
- Receive instructions from the lending institution and arrange discharge of mortgages.
- They will sometimes assist you obtaining finance.
- The Vendor's lawyer will prepare and forward a statement of the amount required to complete the purchase showing the date to which the rates have been paid to.
- The Vendor's lawyer needs to ensure that the deposit is paid by the Purchaser. This deposit is usually collected by the Real Estate Agent.
- Peruse and arrange for you to sign a transfer prepared by the Purchaser's solicitor to the local authority transferring the property to the Purchaser.
- If necessary, attend to the cancellation of your existing house and contents insurance.
- Make final arrangements for the completion of the sale of the property including obtaining the releases of mortgages and other charges (if any), attending to repayment of the existing mortgages, caveats or charges and obtaining the sale price from the Purchaser's lawyer on the possession date.
- The lawyers then authorize the release of the keys to the property.
Common problems occur, and they do occur, around these things. You need to help your lawyer here, because they have not viewed the property.
- You do need to check that all the chattels that you asked for are on the contract.
- Check that the Council plans mirror what is actually on the ground; i.e. things like fireplace and conservatory.
- Some lawyers are simply too busy. Delays seeing these lawyers can cost you the purchase, where someone else buys it while you wait to see the lawyer. Being busy is part of life in an office, but it should not cost you the property.
We recommend that you seek legal advice, but if you cannot and need to secure the property we recommend you add
this clause.
"This agreement is conditional upon the Purchaser's solicitor approving all aspects of, and incidental to, the title to the property (including the form of all easements, covenants, restrictions and interests affecting the same). This condition is to be satisfied by the (insert date)".
AND PERHAPS also this clause.
"This agreement is conditional upon the Purchaser's solicitor perusing and approving the form and content of this agreement by the (insert date)".