Insurance companies have developed strict requirements before they will provide cover over older houses particularly in relation to the quality of the electrical wiring. What is considered an older house? There is variation amongst the insurance companies as to what is an older house. There are no hard and fast […] Read More›
Property
Whether you own a house or are about to purchase a house you need to be aware that insurance companies have moved away from “total replacement” house insurance policies to “total sum insured” policies. What does this difference mean? Under the total replacement policy it was relatively easy for house […] Read More›
The Court of Appeal has just confirmed the decision of the High Court, enforcing a conditional contract which was carelessly drawn up. This case [Arcadian Homes Limited (in liquidation) v More to this Life Limited & Others] involved a Sale and Purchase Agreement for a Wanaka property and was conditional […] Read More›
Sellers of unit title properties are now required to provide mandatory pre-contract and pre-settlement disclosure to prospective buyers. This marks a shift away from the principle of “caveat emptor” or “buyer beware” which has traditionally governed the buying and selling of real estate in New Zealand. Pursuant to the new Unit […] Read More›