Checklist for Sellers

Selling property in Auckland involves several legalities that must be followed to ensure a smooth and successful transaction. Here’s a comprehensive legal checklist for sellers:

1. Work with Licensed Agents: Only licensed agents can legally sell property in New Zealand. Engaging a licensed professional ensures professionalism and compliance with the Real Estate Authority’s (REA) standards (REA, n.d.).

2. Agency Agreements: A written agency agreement is mandatory before listing your property. This document outlines the terms of engagement, including commission rates, services, and duration (REA, n.d.).

3. Accurate Advertising: All property listings must be truthful. Misrepresentation of features, location, or condition could lead to legal disputes (REA, n.d.).

4. Disclosure Obligations: Sellers must disclose material facts, including structural defects, unconsented renovations, and zoning issues. This ensures buyers have accurate information for decision-making (Tenancy Services, n.d.).

5. Local Compliance: Properties in Auckland must adhere to city council regulations such as building codes and Healthy Homes Standards for rentals. Addressing compliance issues before listing saves time and prevents delays (Tenancy Services, n.d.).

6. Secure Handling of Deposits: Deposits collected during the sale must be held in a trust account to protect buyers’ funds until settlement.

By following this checklist, sellers can avoid legal pitfalls and ensure a successful sale. Partner with Patras & Co for expert guidance tailored to Auckland’s market.