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Out & About: Hello %%First Name%%
Listen up apartment buyers and apartment owners! The main topic of conversation in the apartment and unit market this week has been the new strata title arrangements and the changes in the law within the New Unit Titles Act 2009, which has now come into force.
This Act is intended to improve transparency for buyers, which can only be a good thing, and to assist current owners to maintain existing buildings. This information is important to all parties and is currently available from your preferred Real Estate Company, Ray White Mount Eden Village. Whether you are buying or selling, it is important to have the details of the new Act explained to you by a licensed real estate agent.
Basically, there are three types of disclosure which must be adhered to by the seller when dealing with the buyer. There is a pre-contract disclosure with all the details of the body corporate arrangements. The buyer can also, at this stage, request additional information as advised by his or her lawyer or agent, and then, prior to the settlement of a purchase, there is a pre-settlement disclosure. In all cases, failure to provide this information can result in delays or, in some cases, cancellation of agreements. Specialists in this field are Warwick Ayres Legal, Asset Protection Specialists. For more information please go to warwick@ayreslegal.co.nz
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Current State of the Market Report It's official, it's now a sellers' market! Anne Gibson in the New Zealand Herald, 2 August, "Sellers gain upper hand as housing stock halves". Anne goes on to say that the number of houses for sale has halved since the 2008 peak. The scarcity of listings puts buyers at a disadvantage for the first time in over three years. Add to this the news out from Infometrics for QBE Lenders' Mortgage Insurance that house prices are set to increase by 12 percent over the next three years, due to the extreme shortage of new housing. This is good news for everyone except buyers.
So, buyers, act now! Interest rates are predicted to stay at this unprecedented low for quite some time. There are quality homes out there waiting for you, particularly in the Mt Eden/Epsom Grammar zone area. Step into the market now or be prepared to miss out.
Brrrr! It's cold out there, with Snow in Mt Eden this week! Come on into our warm and cosy Ray White Mt Eden Village office and we would be happy to answer any questions you may have relating to the New Unit Titles Act we're here to help with all your real estate enquiries.
Kind regards
Adrienne Gooch
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If you need to find or need the services of a Justice of the Peace (JP) then look no further than Ray White Mt Eden Village. Every week for two hours, starting Wednesday the 27th of July 2011, 9am 1pm, a JP will be available at our office, ready and waiting. The services being offered include: Certifying Copies Passports, Birth, Death, and Marriage Certificates, Education Applications, Statutory Declarations School Enrolments, Change of Name, Citizenship Applications, Insurance Claims, 18+ Applications, Passport Enquiries, Witnessing Signatures and Affidavits. This is a free service for the local community and we are very happy to offer our boardroom for their services.
