13 Mar 2013
Buyers need to undertake thorough investigation
A recent High Court case shows that, in some circumstances, buyers of a property cannot rely totally on a code compliance certificate, but may have to undertake further investigations themselves. This will have implications for agents in circumstances where buyers ask them whether the purchase should be conditional on a builders report. Read more ›
12 Jul 2012
Summary of changes to REINZ/ADLS form of agreement for sale and purchase
The new 9th Edition 2012 form of Agreement for Sale and Purchase of Real Estate was released yesterday. The main changes are: 1.The words “and/or nominee” have been added after the description of the purchaser, so that this doesn’t have to be added each time. Read more ›
14 Jun 2012
Can a buyer sue for a breach of warranty when the buyer has not carried out a proper due diligence?
A recent High Court case looked at the question of whether buyers under a purchase agreement can sue for damages for a breach of warranty by the sellers when the buyers had not carried out a proper due diligence under a due diligence condition, and where proper due diligence would have exposed the error in the warranty. Read more ›
19 Apr 2012
Due Diligence Conditions – What Are The Buyer's Obligations?
Buyers are generally required to use reasonable efforts to satisfy any condition in a sale and purchase agreement which is included for the benefit of the buyer. Some buyers include a ‘due diligence’ condition in an agreement in the belief that this will give them a right to cancel the agreement for any reason whatsoever. Read more ›
13 Feb 2012