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The Star: September 20, 2018

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<strong>The</strong> <strong>Star</strong> Latest Christchurch news at www.star.kiwi<br />

Thursday <strong>September</strong> <strong>20</strong> <strong>20</strong>18 39<br />

the tlc experience<br />

We truly believe in a customer first<br />

based service, achieving the results you<br />

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Trish Lawrence AREINZ (Nat.Dip.RE)<br />

Licensee Agent/Director<br />

FOR SALE<br />

Waltham: 8/80 Shakespeare Rd<br />

Astute Investment or great first home.<br />

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open plan living, quality fixtures and<br />

fittings. Single detached garage with<br />

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Open Saturday & Sunday 11.30 -12pm<br />

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Ref: tlcrealty.co.nz/tlc10005<br />

SALE PENDING<br />

Redcliffs: 19 Glenstrae Rd<br />

Stunning views every day. <strong>The</strong> sale is now<br />

pending on this fabulous home. More<br />

properties are required in this popular<br />

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Spring has sprung -<br />

more properties<br />

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needed!<br />

CONTACT<br />

Trish Lawrence<br />

ph 0800 874 745 Licensed Agent<br />

REAA <strong>20</strong>08<br />

tlc realty limited<br />

Appears every week in<br />

For more information:<br />

Mike Fulham<br />

P 364 7406<br />

E mike@christchurchstar.co.nz<br />

Home<br />

& Property<br />

Home & Property appears<br />

every Thursday, delivered FREE<br />

throughout Christchurch<br />

For more information<br />

and bookings, contact<br />

Mike Fulham<br />

M: 021 300 567<br />

E: mike@starmedia.kiwi<br />

Getting what you paid<br />

for on settlement day<br />

In the movies, the day someone gets<br />

the keys to their newly bought home is<br />

portrayed as a golden, stress-free time. <strong>The</strong><br />

reality can be rather different, especially<br />

if you find your dream home has turned<br />

into something akin to Nightmare On<br />

Elm Street since you agreed to buy it.<br />

“<strong>The</strong> trick to a stress-free settlement<br />

is to do as much as you can in advance,<br />

starting with when you’re signing the sale<br />

and purchase agreement,” advises Kevin<br />

Lampen-Smith, chief executive of the Real<br />

Estate Agents Authority (REAA).<br />

“<strong>The</strong> sale and purchase agreement is the<br />

legally-binding contract agreed between<br />

you and the seller that details the property,<br />

the conditions of sale and the price.<br />

Make sure that there is an agreed list of<br />

chattels, with notes as to their condition,<br />

in this agreement. If the property is full of<br />

rubbish, and you want it gone before you<br />

take possession, make that a condition<br />

of the sale. If there are holes in the fence<br />

that the seller has promised to fix, get that<br />

in writing on the agreement: don’t rely<br />

on verbal assurances that something will<br />

be done prior to settlement. It’s far better<br />

to get all these niggly details sorted out<br />

before you sign the agreement than face<br />

protracted battles down the track.”<br />

As a buyer, you are generally entitled to<br />

one opportunity to inspect the property<br />

before settlement day. If the property has<br />

sitting tenants, ask your lawyer to ensure<br />

there is a ‘final inspection’ clause inserted<br />

in the sale and purchase agreement before<br />

you sign it. This inspection is to make sure<br />

that it is in the same or better order it was<br />

when you viewed it and agreed to the sale.<br />

It is not designed to give you the chance<br />

to uncover new defects, or to give a rental<br />

agent the chance to appraise the place’s<br />

value.<br />

“A seller does not have to accommodate<br />

any extra requests to visit the property<br />

prior to settlement,” Lampen-Smith says.<br />

“Remember that the seller may have<br />

a lot on their plate; making the property<br />

available so your interior decorator can<br />

measure up for new curtains is unlikely to<br />

be a high priority.”<br />

Your real estate agent will usually<br />

arrange the inspection with the seller,<br />

and accompany you to the property. Most<br />

experts recommend that this inspection<br />

takes place around 24 hours before<br />

settlement day so there are no hold-ups to<br />

the transfer of funds and ownership.<br />

When you come to inspect the property,<br />

everything should be as it was when you<br />

decided to purchase it (as reflected by the<br />

sale and purchase agreement). Lampen-<br />

Smith says you can expect chattels to be<br />

in a reasonable working order unless it has<br />

been agreed and documented otherwise.<br />

You cannot complain to the seller that the<br />

oven isn’t clean enough, but you can raise a<br />

complaint if it is missing, or it is a different<br />

model to the one cited in the agreement.<br />

Don’t forget to check that garage door<br />

openers and pool covers are in situ, or that<br />

locks work properly.<br />

If there is a problem, the REAA says<br />

you should speak to the real estate agent<br />

and your lawyer in the first instance. Your<br />

lawyer should work with the seller’s lawyer<br />

to reach a satisfactory solution, such as<br />

getting the seller to make any necessary<br />

repairs, or to deduct any costs from the<br />

eventual settlement.<br />

Making the final inspection 24 hours<br />

before settlement is due gives you and the<br />

seller time to reach an agreement over<br />

anything outstanding.<br />

“Like any property transaction, success<br />

often depends on doing things right at the<br />

start,” Lampen-Smith says.<br />

“Get the details right at the beginning<br />

and you’ve got a greater chance of a happy<br />

ending.”<br />

For independent advice on buying<br />

or selling property, check out<br />

www.settled.govt.nz.<br />

Make sure there is a legally-binding contract agreed between you<br />

and the seller that details the property, the conditions of sale and<br />

the price, as well as a list of chattels with notes as to their condition.<br />

Your<br />

Earthquake<br />

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We have sold over<br />

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Phil & Holly Jones<br />

Ph 03-382-2230<br />

Phil 027 435 7711<br />

Holly 027 222 02<strong>20</strong><br />

holly.jones@raywhite.com<br />

Licensed (REAA <strong>20</strong>08) Results Realty Ltd<br />

RENT ME!<br />

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CONTACT:<br />

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P 364 7419<br />

E vicky.sayers@<br />

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4<br />

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