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S&P Questions

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  • S&P Questions

    If we have a contract on a property, due to go unconditional when it gets code of compliance. The S&P agreement settlement date is 30 April 2014. So the Code needs to be issued before end of April. If it goes over 30th April, does that mean that the contract is now void? Can she put the price up? We have paid her a small amount of money so we have put a caveat on the property. Don't really know where we stand? Thanks in advice, love this website!

  • #2
    That is definitely a question for your lawyer.

    Since it has the code of compliance clause it shouldn't have a settlement date, it probably should have had the "or as described in the further terms page" part circled and referred to the clause stating that the contract will become unconditional when the code of compliance is issued and settlement will occur within .... days of that occurring.

    Who drew up the agreement, was it private or through an agency?


    • #3
      Is it new house or existing and old consent?

      you use the term Code of Compliance;

      do you mean CCC, code compliance certificate under the building Act or Certificate of Compliance (CoC) under the RMA ?