Conditions to consider when purchasing a house

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When purchasing a property you are likely aware that in most cases it is wise to make the agreement conditional upon approval of finance, a building report and a LIM report.

However in some cases it may also be wise to have the agreement made conditional upon other matters, such as testing for methamphetamine.  This is especially true where the property has been rented.  A recently reported example has shown that of 6 Housing New Zealand properties tested for methamphetamine in Whanganui, 3 houses had shown positive readings.  Methamphetamine contamination can be expensive to remedy and there is no guarantee that this will be covered by insurance.

Before signing an agreement, we encourage you to contact our solicitors at Wells & Co to discuss your purchase, particularly if you have any concerns as to the conditions that may need to be included.