Real Estate Sales

As a result of the Government's new level 4 alert coming into play, Crockers are committed to going above and beyond to ensure the safety and well-being of our team and our clients. To help contain the spread of COVID-19, and in line with the Governments escalation our office will be working remotely from Wednesday 25 March 2020, but be assured we will still be contactable by phone or email for any property related queries. 

Listed below are the answers to frequently asked questions regarding Realty Sales that may be of interest to you.

 

Frequently Asked Questions

Open Homes/Private viewings

These are not considered essential services so they cannot take place in person.

Auctions

These are not considered essential services so they can only take place by phone or online bidding methods.

 

Settlements

During lockdown, vendors and purchasers will NOT be able to move in and out of their houses. For this reason, Auckland District Law Society is recommending that settlements be deferred until after the Alert Level 4 restriction is lifted. The party's lawyers will make appropriate amendments to the contract to facilitate this.

Moving if a property settles during lockdown

Travel will be restricted to essential travel only e.g. pharmacy/supermarket trip, so settlements and moving house should be deferred until after the Alert Level 4 restriction is lifted. The parties lawyers will make appropriate amendments to the contract to facilitate this.

Tenanted property sales

Auckland District Law Society have considered situations where sales may not involve people leaving their home or any in-person contact (e.g. where a property is tenanted and the tenancy will continue after settlement) and have advised that whilst settlement can occur where no one has to have contact, purchasers and vendors may encounter difficulties when trying to get A&I, mortgage instruction, and other legal forms issued and signed. So, deferring settlement may still be the safest option. We would strongly recommend that the parties seek and follow the advice of their lawyers and not assume settlement can or will be able to occur. Physical property inspections cannot occur when we are under Level 4 lockdown.

Bridging finance

Vendors/purchasers should talk to their bank or financial services provider in the first instance.

 

Conditional contracts

These can still be confirmed during lockdown provided no travel/face-to-face meetings are required. If the condition(s) cannot be met during the Alert Level 4 period, then both the buyer and seller should take legal advice and either extend the condition until after the lockdown period or cancel the contract. The party's lawyers will make appropriate amendments to the contract to facilitate this.

Pre-settlement inspections

These are unable to take place in person during lockdown, however, if both parties agree, these could take place using video conferencing.

FAQs published on 25/03/2020

This update was published on 25/03/2020  |  Please refer back to this page for updates.