Dear customer, Activity in the housing market is ramping up now that the election is over. As the sun and warmer weather brings people out to view and interact with agents, you may find yourself getting busier. With this increased activity, we thought it was timely to remind you of your increased responsibility placed on you by the Real Estate Agents Authority to disclose to purchasers any information received from your vendor. Earlier this year, the REAA disciplinary tribunal upheld a complaints assessment committee decision that an agent engaged in “unsatisfactory conduct” for withholding information that should “by fairness” be provided to purchasers. Liaising with your vendor’s lawyers from the onset will help ensure you’re conveying accurate information. For instance, the accountability is now being placed on you as an agent to disclose correct details of the property title. Since some of these responsibilities extend into the realm of legal advice, it is prudent to consult a lawyer early on, ideally at the time of listing, to ensure that no unforeseen problems will arise during the transaction. We are more than happy to assist with your due diligence as to what information to provide your buyer. Having the correct information available and ready to convey will streamline the process and make your clients feel more confident whether they are buying or selling. Samantha’s article below will help ensure a problem-free sale by ensuring the names are correct on an agreement. It becomes tricky when your clients don’t provide the correct information but following this short checklist will help prevent problems. Also in this newsletter, we discuss why it’s important for your clients to understand how buying into a shared space, such as a townhouse, unit or apartment, is different from buying residential property. A good understanding of issues such as shared maintenance costs can help your client determine if this kind of property is suitable. If you need advice regarding your new responsibilities or have any other questions about information in this newsletter, please don’t hesitate to call us. Warm regards, Wade, Peter & Greg. “I felt the service and professionalism shown by the team was wonderful. Thank you for your assistance in my purchase of property.” How to ensure the purchaser and vendor names are correct on an agreement for sale and purchase by Samantha Curtis As a property professional, you’ll understand why it’s crucial to get the details on an agreement for sale and purchase as accurate as possible. Samantha Curtis offers a short checklist to avoid problems and delays due to incorrect details. Read full article   Things to consider when buying an apartment, unit or townhouse By Maria Hamber Buying an apartment, unit or townhouse isn’t the same as buying residential property. Maria Hamber outlines the key things your clients need to know about this type of space to determine if it’s suited to their needs. Read full article OUR SERVICES: Business Law | Employment Law | Property Law | Family Law | Litigation | Wills and Trusts | Estates | Elder Law SHARE THIS NEWSLETTER:   CONTACT US: Phone: 09 836 0939 Fax: 09 837 2500 Email: partners@smithpartners.co.nz Office: 293 Lincoln Road, Henderson, Auckland, New Zealand View Online Map »   If you no longer want to recieve these emails Click here to Unsubcribe All information in this newsletter is to the best of the authors’ knowledge true and accurate. No liability is assumed by the authors, or publishers, for any losses suffered by any person relying directly or indirectly upon this newsletter. It is recommended that clients should consult a senior representative of the firm before acting upon this information.