Buying House in another City
| # | Post |
|---|---|
| 1 | Hi there just wondering a question about buying a house in another city ie ChCh is it advisable to use lawyer from current city or find one in City that i would like to purchase in? jordani - 2021-07-20 12:07:00 |
| 2 | jordani wrote:
I suggest using a solicitor that is familiar with the issues in Christchurch. Their location does not matter. Edited by johnston at 12:41 pm, Tue 20 Jul johnston - 2021-07-20 12:40:00 |
| 3 | If you have a lawyer in your current place then ask them to recommend a person/firm. I asked mine who their agents were in a particular town and he said 'oh I can do better than that and recommended a different firm and 'nek minnit' 40 years later I am still with the recommended firm. And still very happy with the recommendation. With Chch it would be essential to have a firm that has a strong conveyancing base. shanreagh - 2021-07-20 12:53:00 |
| 4 | Buying in Canterbury you will also need a "Deed Of Assignment", transferring any EQC claim to the purchaser. orphic1 - 2021-07-20 13:54:00 |
| 5 | orphic1 wrote:
EQC claims happen all the time from all parts of NZ. Always ask the agent or vendor if they have made an EQC claim within the past 20 years. EQC covers all natural disasters, including flooding. The reason for the assignment is that after the Chch sequences it was determined that EQC remain liable for repairing damage that was not correctly fixed. tony9 - 2021-07-20 16:40:00 |
| 6 | tony9 wrote: orphic1 - 2021-07-20 16:46:00 |
| 7 | Thanks for info jordani - 2021-07-21 22:10:00 |
| 8 | tony9 wrote: Not entirely correct. EQC only covers land damage for flooding, not building or contents damage - that's on your own insurer. Also EQC aren't liable for repairing unfixed damage outright - for a start the owner might have settled for cash and done repairs (or not) themselves. Also in Canterbury there is a strict cut off period for people who have bought property with unfixed damage to claim (which ended August last year). Assignment of Claims is mainly for existing outstanding claims that have not been completed or settled. A good way of checking if a property had a claim (and the Claim Numbers) is to search the property here: https://propertysearch.canterburymaps.govt.nz/#/ Although I'd still ask the vendor. Also if you search on the above and slide the imagery timeline back to 2010 you can see the post quake liquefaction damage. sparkychap - 2021-07-22 08:17:00 |
| 9 | Also if buying in Chch also check if the property was subject to either increased flooding or liquefaction vulnerability (especially on the north of the river and Flockton basin) and also whether the previous owner received a one off payment from EQC for the loss of land value caused by the above. There's some stuff here about this: https://www.eqc.govt.nz/canterbury/canterbury-claims/land-cl sparkychap - 2021-07-22 08:21:00 |
| 10 | sparkychap wrote:
EQC are responsible for the first $150k of your dwelling. Hence why there is an EQC levy payable with your insurance. They have stopped covering contents. EQC has given control over to the insurance companies to assess any EQ claims, but ultimately, they will still be responsible for the first $150k. phoenix22 - 2021-07-22 14:40:00 |
| 11 | Am thinking that you would want to be close to your lawyer due to things needing to be discussed, papers etc that need signing, so unless the place you want to buy is an easy commute or you are able to spend time there while negotiations take place I would stick to one in your current city. maddie44 - 2021-07-22 14:49:00 |
| 12 | phoenix22 wrote: And they don't cover your house for floods. phoenix22 wrote: Yep this is a very good change. sparkychap - 2021-07-22 15:10:00 |
| 13 | sparkychap wrote:
That applies to all of NZ. Your local authority will have liquefaction and flood risk info, if any apply. tony9 - 2021-07-22 15:43:00 |
