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17SOPPKG

Off-the-Plan Agreements - sale and purchase

NZ $255.00
incl GST
Debra Dorrington 2017  
Debra Dorrington
AlexanderDorrington
Auckland
 

Webinar Package includes:

Archive Presentation  l  Booklet  l  PowerPoint Presentation

Webinar Package Fee (incl GST)

  • $205 - NZLS members and Associate members
  • $255 - Non-members

Note: Access to the online files is via your "My CPD" page. If you would like to purchase multiple packages, please contact us here.

Webinar Archive Presentation

Presentation time: 120 minutes

Whether you act for a developer or a buyer, agreements and sales of properties off-the-plans can introduce a myriad of issues. Understanding the logic behind the clauses and requirements, the risks and protections that exist for buyers, and
the way a developer can manage risk through the form of their agreement will benefit your client.

This seminar will help you understand the issues that exist in dealing with off-the-plans transactions whether your clients are buying or selling.

Topics covered will include:
  • What can be negotiated – understanding each party’s requirements
  • Legislative changes – Unit Titles Act, Anti-Money Laundering and Countering Financing of Terrorism Act, Securities Act
  • Development funding requirements and their impact on the form of agreement
  • Consumer protection for purchasers
  • Dealing with deposits.

Please contact us if you use a dial up internet connection.

Booklet

 

Authors: Debra Dorrington
Published: 17 May 2017
Pages: 28

Introduction

The purpose of this presentation and paper is to examine the issues that arise when reviewing agreements for the sale and purchase of properties off the plans (ie when a purchaser agrees to buy a property that does not yet have a title). 1 Sometimes agreements for sales off the plans are entered into years before the settlement date. With that significant delay comes risks for both parties – often associated with changes in the market and with cost escalation, but also particular to individual parties.

Typically these agreements are complex and attempt to weigh three different perspectives:

  • The expectations of the purchaser to achieve certainty as to what they are purchasing;
  • The requirements of the vendor to have flexibility in what they are creating; and
  • The conditions precedent to the vendor's bank providing the development funding.

In the course of this presentation we will examine the expectations of each of these parties. We will also consider some underlying regulatory requirements. My hope is that by the end of the presentation you will be fully equipped to understand a typical pre-sale agreement, to recognise the reasons for many of the provisions and the extent to which they might be varied, and for that to be the case whether you are acting for the buyer or the seller. My hope is that the paper will better enable you to deliver valuable information to your clients and to be able to make your own judgements as to whether points are worthwhile pursuing or not.

_______________________________

1 I would like to thank Michael Langdon and Amanda Spratt each from MinterEllisonRuddWatts for their assistance. Each of them acts for major banks who are active in funding residential property and they were generous in helping me understand the up-to-date requirements of funders when considering the pre-sale agreements.

PowerPoint Presentation

These are the slides included in the webinar presentation.
Number of Slides: 19

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Statutory Interpretation Update - Webinar Package

Publication Date: 15-Jun-2016

Authors: Ross Carter, Jason McHerron

NZ $255.00
incl GST

Multiple Registration
 
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