13 Jan Conveyancing | Your property pre purchase inspection.
You are about to purchase a property? Conveyancing is the transfer of legal title of property from one person to another.
Our conveyancing lawyers at Quay Law have shared the following article and information with you.
A pre-purchase inspection of a New Zealand property before proceeding with a purchase is essential. This report should identify any items in the property that require attention. It is however unlikely that a home will come though a property inspection with a clean report as maintenance on an existing home is always required. However, a property report allows you to make an informed decision prior to proceeding with the purchase of the property.
Quay Law recommends you use a certified inspector for your potential property purchase | conveyancing transaction.
But beyond the standard aspects of a property inspection report, what else do you need to consider?
Take a look at a recent article on stuff.co.nz (13/01/2014).
Houses used as P-labs could rival leaky homes as a problem, with a warrant of fitness system needed to reassure buyers, the Real Estate Institute says.
Chief executive Helen O’Sullivan said meth labs that were being discovered were only “the tip of the iceberg”.
“With leaky homes you have a profile of the kind of house that can be affected, but meth labs can be anywhere.
“Not surprisingly, meth cooks don’t sign a register when they start up.”
She called for a “warrant of fitness” system for houses, which would include a test for meth at a cost of $100 to $500.
Other issues, for example the state of wiring, could also be covered.
The problem of meth-tainted homes had reached the point where a test for P was as important for buyers as a Lim report and a building code check.
“To a degree this is the new ‘leaky homes’ but in a way it’s worse because it’s harder to spot.
“Perhaps one day we will see legislation that compels homeowners to declare whether their home is a meth home when they sell.”
Contaminated Site Solutions Limited director Victor Boyd said the issue of contaminated homes was becoming more prevalent.
“More people are asking questions,” he said.
He had received calls from young couples who had bought their first home, not realising it was contaminated.
Meth-contaminated homes could be “extremely dangerous” Mr Boyd said.
“There are some nasty chemicals involved.”
P-lab exposure could cause shortness of breath, dizziness, irritation, or burns to the skin, eyes, nose and mouth.
There was also a problem with property owners discovering, but failing to report clandestine labs, he said.
“They’ll say get out or I’ll call the police. Then they’ll try to clean it up themselves.”
In Foxton, tradesman Kris Harding has called on the community to help Derek and Ceridwen Hooper, who bought a retirement home only to find it was contaminated by meth.
Housing Minister Nick Smith said the scale of the problem did not justify imposing an expensive test for meth contamination on property owners.
“It is certainly an issue, but it would be misleading to suggest it’s approaching the same level as the $20 billion leaky homes problem.”
Police estimated that about 50 homes each year were found to be contaminated by meth, Mr Smith said.
He sympathised with the Hoopers.
“They need to explore the legal avenues open to them.”
Mr Smith said had been contacted by landlords who faced clean-up bills of tens of thousands of dollars after tenants had set up P-labs.
Many were left out of pocket, but in one case a landlord was able to claim $30,000 through the courts after a drug dealer’s assets were seized under the Criminal Proceeds (Recovery) Act.
Overall the best solution remained the targeting of P makers and dealers, Mr Smith said.
– © Fairfax NZ News
For further information on your residential or commercial conveyancing transaction please talk to our lawyers first to obtain relevant legal advice.
Contact your approachable Auckland lawyers or call 09 523-2408