August 9, 2019 In Bramwell Bate News By Bate Hallett

Anti-money laundering overview

The government has recently made changes to the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the “Act”) to prevent money laundering and terrorism financing within various businesses and professions (including lawyers, accountants and real estate agents). The Act aims to enhance the reputation of New Zealand businesses and maintain the view that New Zealand is a safe place to run a business. Money laundering is the process of disguising the origins of illegally obtained money. Financing of terrorism is where...

Bramwell Bate News
May 8, 2019 In Bramwell Bate News By Bate Hallett

Snippets

What is the purpose of a LIM report? When purchasing a property, obtaining a Land Information Memorandum (“LIM”) report from the relevant council is strongly recommended. A LIM report provides all the documents that a council has on records for a property. Each LIM report contains different information, as some properties may be new builds, while others are just sections or older homes etc. Some examples of what could be found in a LIM report are: soil reports; whether resource consent and certificate...

Bramwell Bate Home Slider
May 8, 2019 In Bramwell Bate News By Bate Hallett

An overview of mortgagee sales

If you buy a property at a mortgagee sale, be aware that you are entering a contract that is quite different in its nature to an agreement entered into in other circumstances. The agreement is likely to be weighed heavily in the mortgagee’s favour because mortgagee sales involve factors outside of the mortgagee’s control, which it will want to protect itself from. This may include a very unwilling and impecunious owner occupier who is being forced to leave their home by...