Auction Review – Terms and Conditions

Our fee for the advice on the auction review is $295.00 including GST and disbursements (Auction Review Fee) and is subject to the following:

1. If you are successful at auction, then the Auction Review Fee is not payable if you retain our services to complete the conveyancing work for the purchase.  Our standard fee for a purchase is $2,100 plus GST and disbursements (Standard Purchase Fee).  Disbursements include the LINZ fees for transfer of the title and mortgage registration, title search fees, bank fees, PPSR search fees and other office expenses.  If you are using Kiwisaver funds, there will be an additional fee of $250 plus GST per application.

2. Our Standard Purchase Fee does not cover complex or urgent transactions.  If an issue arises with your purchase, additional charges will apply in accordance with our standard terms and conditions.  A copy of our standard terms and conditions can be found on our website (www.argylewelsh.co.nz).

3. If you are not successful at auction, you will be invoiced $295 including GST and disbursements.

4. The Auction Review Fee is on the basis that the Agent’s property information pack includes the title search documents, all easements and covenants, and LIM.  If any of the documents are not provided, we can obtain copies of the documents and the cost of doing so will be charged in addition to the Auction Review Fee. 

5. The Auction Review Fee covers advice on the Title, LIM and the Particulars of Auction/Sale and Purchase Agreement together with associated documents. We can provide guidance on EQC and building report matters (if provided) but recommend that you take independent advice on these matters with an expert in these areas.

6. We are required to meet our obligations under the Anti Money Laundering and Countering the Financing of Terrorism legislation.  To do that we will require you to undergo a RealAML check.  You will be sent a link to your mobile phone number or email address.  Each check costs $12.00 and is in addition to the Auction Review Fee. 

7. If you are not a New Zealand, Australian or Singaporean citizen, you will need to check whether you are eligible to purchase land in New Zealand. The Auction Review Fee and our Standard Purchase Fee does not include assisting with an OIO consent application. 

8. We do not provide tax advice as part of our services.  We recommend that you obtain independent tax advice on the transaction as any tax obligation is your sole responsibility.

9. As noted in our standard client care terms, we hold professional indemnity insurance which meets the minimum standards.

10. We limit our liability to the maximum sum which is available under our professional indemnity insurance from time to time. 

We do not require these terms to be signed by you, however agreeing to act for you in this matter is contingent upon you accepting the terms. Your continued instructions (or lack of advice that we should stop work) will confirm your acceptance of this engagement agreement.

If you have any queries, please do not hesitate to contact us.