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Lockdown & Settlement Delays

In the wake of two nationwide lockdowns and several localised lockdowns, we should all appreciate that if we enter into a property transaction, that transaction could be interrupted and complicated by Covid-related restrictions.

https://www.newstalkzb.co.nz/news/auckland/lockdown-blues-buyer-risks-losing-120k-deposit-because-seller-wont-delay-settlement/

While the first home buyer in this article deserves our sympathy, her predicament was both foreseeable and avoidable. The Agreement for Sale & Purchase which governs the transaction could have included terms that anticipated a lockdown and mitigated the problems that would likely result from it.

If you are thinking about selling or (especially) buying a property, we can help you avoid these sorts of inconveniences.

If you have an issue with a settlement or for further information contact us or call (03) 477 8080

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