Purchasing from a developer who isn’t a builder – what are the pitfalls?

One of the increasingly popular options for purchasing a new house is to buy from a property developer who may not have actually built the house. Contract builders are brought in to construct new homes in subdivisions; the developer then sells on. This can result in a nice new house at a reasonable price.

However, there are risks associated with this type of purchase about which many people are not aware. Some of these risks can be mitigated with sensible contractual protection built in, others are simply risks that you can’t reduce.

Legal Boundaries: Why titles matter

You have just moved into your new home and your neighbour knocks on your door. They say that your garage is two metres into their boundary, and that they need this space to widen their driveway. Suddenly you wish you had known where your boundary was before you purchased the property.

There is a great deal of information now available which shows the boundaries on properties that were previously not apparent without a survey. With the rise of the internet, prospective purchasers are raising issues as to the location of legal boundaries that existing owners may never have known about previously.

Hamilton City mayoral candidate debate – property & construction issues – 7 September

The Property Council are organising a debate to hear candidates in the only organised debate/forum, with a property and construction focus. With Hamilton City Council elections fast approaching in October this event is a chance for you to be well informed and ask the questions you want to know.

Register here

Latest EJ Update

The latest EJ newsletter the EJ Update is available here. The latest Fineprint is available here.

This EJ Update includes information about:

• The ‘Legal Warrant of Fitness’ a new and simple survey that ensures that your personal and business affairs are up-to-date
• Changes to witnessing of enduring power of attorney documents
• The Government’s proposal to do away with gift duty
• Changes to the definition of ‘beneficiary income’

Latest Fineprint

Is available here.

In this edition:

• Financial Advisers Act 2008
• The Major Events Management Act
• Subdivision nightmare
• A note about notaries

Please note that for ease of reading when opening up the PDF go to View –> Page Display –> Two up

Waipa District subdivision rules to change

Here is a letter from CKL setting out the proposed changes Waipa District Council are planning to make to their subdivision criteria.

Important info for property investors in special Property eSpeaking

Important information for property investors here…