We specialise in all practical aspects of property law. We can assist whether you are the first home buyer, an experienced home buyer or seller, a commercial property investor or a small to medium business owner.
Brian Geary (see profile) is a member of the Property Law Section of the New Zealand Law Society. For more information go to www.propertylawyers.org.nz
WE OFFER A FREE NO OBLIGATION INITIAL CONSULTATION
service by phone or in person to discuss with you the likely steps and costs involved.
CONVEYANCING AT A DISTANCE
We can often deal with your home purchase, sale or refinancing at a distance without meeting person to person. We can meet locally if you are in the Wellington, Kapiti Coast area.
A ten percent (10%) discount on all residential conveyancing to elder clients who hold the NZ Government SuperGold card.
FIXED LEGAL FEES
FIXED LEGAL FEES are offered on standard residential conveyancing, so there are no surprises. For more complex transactions we can estimate the likely fee on a fair and reasonable basis. Our overheads are less than larger firms and we pass those savings on to our clients. You can expect a competitive fee and a comprehensive legal service.
FREE standard WILLS with every successful home sale or purchase.
RESIDENTIAL PROPERTY SALE AND PURCHASE and REFINANCING (CONVEYANCING)
New Zealanders like to own their homes. For most, it is their biggest investment. We provide you with clear, comprehensive property advice and legal services - whether it is your home purchase or sale, a re-financing or a complex commercial transaction.
A property transaction is like an iceberg. You will see only a small part of the legal work that needs to be done. As your property lawyer, we will make sure that the transaction goes through with a minimum of fuss. We will look after your interests every step of the way.
PROPERTY CONVEYANCING IS A STEP BY STEP PROCESS:
See us early:
Stay in control of the process. Seek our advice early. The best time is before you commit to signing a sale and purchase agreement. We may not be able to change it later. We can step you through the conveyancing process. Buying or selling a home can be a stressful experience. So avoid potential stress, frustration and added costs, by seeking our legal advice early.
FOR THE BUYER:
A step by step process:
We can discuss what kind of title we are dealing with – is it a fee simple title, a unit title, a lease, a cross lease or some other kind of title. A unit title purchase is illegal until the buyer has also received a pre-contract disclosure statement. With a unit title or leasehold property there are ongoing financial commitments. What interests e.g. easements such as a right of way or building line restriction, are registered on the title and what affect does each have? You need to know this. We will thoroughly search the title and advise you.
What are your written purchaser pre-purchase conditions to be? What are the other terms of the written sale and purchase agreement? Then there are the title and rates searches and to consider what due diligence reports on the property you will obtain – a building inspection, an engineer, a property valuation, a rent assessment, a Council Land Information Memorandum (LIM), a “P” (methamphetamine) test, especially if the property has been tenanted or is remotely located.
For a buyer requiring finance, the financial framework needs early consideration. There is the loan documentation – the interest rate – floating or fixed or a combination, the terms and repayment options – principal and interest or an interest only period, whether you have mortgage repayment insurance, redundancy insurance, life insurance, home ownership insurance – full insurable value or not, whether there is any Kiwisaver first home buyer superannuation withdrawal requirements, any first home subsidy requirements, any parental loans or gifting to assist first home buyers.
Property ownership and related issues:
Should you own in your personal names, or in a trust or a company? There are taxation and other implications if you are buying a property as an investment. Should the property be in joint names for a couple? Should ownership be in shares as tenants in common? How do relationship property agreements, wills and family trusts work?
An unconditional agreement:
When all vendor and purchaser pre-conditions are satisfied the sale agreement is said to be “unconditional” but subject to the remaining general terms of the agreement. The seller must sell and the buyer must buy. A deposit is usually payable in terms of the agreement. A ten per cent (10%) deposit is usually requested by the real estate agent, but the percentage or amount of the deposit is negotiable. The deposit paid forms part of the price. The balance is payable on settlement date. Possession of the property and the handing over of the keys to entry are usually on the same date.
We are busy on your behalf throughout this whole period, but the exciting day for you and us is settlement day – the day we actually buy the property. We have completed all loan and conveyancing document processes, we have provided you with the vendor settlement statement, plus our own financial statement to you, we have gathered in the balance of the purchase price from the various sources together with legal and other expenses to be paid, we check the title again and any other matters requiring our input. We have obtained your prior approval to proceeding with the actual settlement after you are satisfied with your final pre-settlement inspection of the property.
Then we complete the settlement by transferring the balance purchase price into the trust account of the vendor’s lawyer or licensed conveyancer. The vendor’s lawyer releases the title into our Landonline workspace and we promptly register the title in the purchaser’s names together with any mortgage(s). We phone you to say that you can pick up the house keys from the agent or as arranged. You now have legal title to and possession of your home or rental property. We can usually email your certificate of title and any registered mortgage to you by day’s end, together with your after settlement Buy Report. We then post the report to you.