Redwoods Law Ltd. - Rotorua
Property & Commercial Law
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Property Services

Buying, Selling or Refinancing Your Property?

We provide as much clarity as possible about our fees up-front.  We generally charge the following standard flat fees for Residential Property Transactions:  

Please note that additional complications may incur further fees on an hourly fee basis but we will let you know any additional costs as soon as possible. 

OUR COSTS

SALE WITHOUT mortgage

Our Fee...............................................$1,011.00

Title Search (LandOnline).........................$5.00

Printing & Copying....................................$4.00

Total Estimated Cost........................$1,020.00

 

SALE WITH mortgage

Our Fee...............................................$1,011.00

Title Search (LandOnline).........................$5.00

Printing & Copying....................................$4.00

Registration Fees (LandOnline)...............$80.00

Total Estimated Cost.........................$1,100.00

 

PURCHASE WITHOUT mortgage

Our Fee...............................................$1,150.00

Title Search (LandOnline)..........................$5.00

LIM (Council Report).............................$225.00

Guaranteed Search (LandOnline)............$5.00

Printing & Copying..................................$45.00

Registration of Transfer (LandOnline)......$80.00

Bank Charges............................................$6.00

Post Registration Search (LandOnline)......$5.00

Total Estimated Cost.........................$1,100.00

 

PURCHASE WITH mortgage

Our Fee..............................................$1,300.00

Titles Search...............................................$5.00

LIM (Council Report).............................$280.00

Guaranteed Search...................................$5.00

Printing and Plans etc..............................$45.00

Registration Fee on Transfer....................$80.00

Registration Fee on Mortgage................$80.00

Bank Fee....................................................$6.00

Post Registration Search Fee.....................$5.00

Total Estimated Cost.........................$1,100.00

NEW MORTGAGE

Our Fee.................................................$460.00

Guaranteed Search Fee............................$5.00

Printing & Copying..................................$20.00

Registration Fees......................................$80.00

Post Registration Search............................$5.00

Total Estimated Cost.........................$1,100.00

MORTGAGE DISCHARGE

Our Fee..................................................$172.00

Search Fee.................................................$5.00

Printing and Copying..............................$20.00

Registration Fees.....................................$80.00

Post Registration Search............................$5.00

Total Estimated Cost.........................$1,100.00

REFINANCING MORTGAGE

Our Fee.................................................$600.00

Guaranteed Search Fee............................$5.00

Printing & Copying..................................$20.00

Registration Fees....................................$160.00

Post-Registration Search............................$5.00

Total Estimated Cost.............................$760.00

 


We act for buyers, sellers, developers, and mortgage lenders of houses, apartments, commercial buildings, and rural properties throughout New Zealand.

  • Sale and purchase of residential and commercial real estate, including unit titles, vacant sections, managed apartments, rural property, ‘house and land’ packages and sections/apartments ‘off the plans’ where title has yet to issue
  • Mortgage Refinancing
  • Due diligence investigations and explaining covenants, easements and other registered interests on the Certificate of Title
  • Advising on construction contracts and building guarantees
  • Commercial leasing for both Tenants and Landlords
  • Subdivisions of land and Unit Title Developments
  • Property Management Agreements, Property Sharing Agreements, Water Supply Agreements, establishing Homeowner Associations
  • Hotel developments and tourism infrastructure

OTHER COSTS OF PURCHASING

L.I.M.

A Land Information Memorandum or LIM report can be obtained from the local city council, the price varies depending on the council and the urgency but is generally between $225 and $400.  Many Council's now provide significantly less information in a LIM report than was is provided in earlier years however we strongly recommend the obtaining of a LIM report. 

Builder's Report

When purchasing a house worth hundreds of thousands of dollars you must obtain a building inspection report to ensure that the property is structurally sound and weather-tight.  A report obtained from a qualified building inspector will cost in the region of $400 to $800 depending on the size of the house.  It is our experience that a building inspection which includes thermal imaging is much more likely to reveal any issues with moisture or leaks and this technology has really superseded previous reliance on other methods.  The Building Inspection should always be completed with reference to the entire Local Council Property File.  It may also be beneficial to have the boundaries, fence lines and building lines checked as part of your Building Inspection which is often a worthwhile additional cost.

Property File

Councils now retain their entire property file on line and charge a fee (around $25.00) to access that file.  We strongly recommend that you access this information and retain a copy of the current file for future reference.  This may be included as part of your Building Inspection.  Real Estate Agents or vendors will often provide a copy of the Council Property File to prospective purchasers, however that information may be out of date or incomplete.  

Registered Valuation

A Registered Valuation may be required by your bank depending on your equity.  A valuation will generally cost in excess of $400.

L.M.I. & LOAN APPLICATION FEES

Banks may charge loan application fees of around $400.00.  

In addition, if you are borrowing more than 80% of the value of your property the bank may charge a Lender's Mortgage Insurance Premium (L.M.I.) this is typically added to the total amount you are borrowing rather than charged up front.

Rates

When you purchase a property the rates are apportioned to you for the balance of the rates instalment or the year if paid yearly by the seller.  Local Council and Regional Council Rates may be charged separately.  You may check the Rotorua Rates at the Rotorua Lakes Council Rating Information Database (RID)

Moving Costs & CONNECTION FeES

While we do what we can to settle your purchase as early on settlement day as possible there can often be unavoidable delays.  You may avoid unnecessary waiting time and cost for your movers by booking them for the day after settlement.

Connection fees for all your services may exceed $1,000 but can be greatly reduced through use of existing providers or spreading connection costs over a term of use.

Property Insurance

You will need replacement insurance for your property. www.sorted.org.nz provides a guide to insuring your property.