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  1. #11
    Join Date
    Jun 2004
    Posts
    10,314

    Default

    Quote Originally Posted by ladyagent View Post
    The new "Plain English" are three times the size of the existing Sale and Purchase Agreements.Maybe this does simplify it for some people.
    They were drawn up as an initiative from REINZ in an attempt to sustain their existence as they face their demise as an organisation.As a real estate agent of over 20 year's standing,my observations suggest that REINZ has been a useless figurehead body,reluctant to act on complaints,and very remiss in assisting or educating its members.This has been a last throw of the dice for them but it has rolled off the board!
    No love lost there then

  2. #12
    Join Date
    Nov 2008
    Location
    Karratha WA
    Posts
    1,444

    Default

    Has anyone got a link to a copy of the new agreement?

  3. #13
    Join Date
    Nov 2008
    Location
    Karratha WA
    Posts
    1,444

    Default

    Found it!

    http://www.reinz.org.nz/

    Call me lazy, but it will take a while to absorb all that. I'll stick with the old one since I know it inside out, and know what clauses I like to add/alter.

    I would expect my lawyer would charge me more as well, due to time spent reading all that to cover his arse and hopefully mine too.

    When the new commercial leases came out last year, the legal costs jumped and there were delays with misunderstandings on which agreement to use. The clauses lawyers like to add also had to be sorted out, and absorbed by all.

    Mostly we all just crossed our fingers and hoped, I think. Won't be seeing the fall out from that one til the first leases start to expire or have issues.

  4. #14
    Join Date
    Apr 2008
    Location
    Kapiti/Horowhenua
    Posts
    109

    Default

    Quote Originally Posted by Wayne View Post
    No love lost there then
    Nil,zero,not an ounce,NONE!!

  5. #15
    Join Date
    May 2006
    Location
    Mordor
    Posts
    1,048

    Default

    Just as background, the new plain english Agreement came about because of disagreement between the REINZ and a few people at the Auckland District Law Society. REINZ and ADLS jointly own the copyright to the AS&P.

    Both sides were at fault so far as I can tell. Egos, job protection, money.

    Practising lawyers are appalled at what has happened. 25 years ago there were various different sales contracts, all with their own clauses. Having one AS&P nationwide has been to everyones benefit. Now we are sliding backwards.....

    I suspect that 98% of agents agreements in the future will use the new form. Time will tell.

  6. #16
    Join Date
    Jun 2004
    Posts
    10,314

    Default

    Quote Originally Posted by Winston001 View Post
    I suspect that 98% of agents agreements in the future will use the new form. Time will tell.
    only if people let them but, given that most buyers won't know the differance (because they aren't here) you are probably right.

  7. #17
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,297

    Default

    I'm sure they're fine, the lawyers just want everything to go through them. That's why they have the notices on the back of the agreement saying "Check with a lawyer first...". It's all about them creating fear in their clients so they can get work.

    If an agreement was plain english enough to be easily understood by laymen then that's got to be a good thing doesn't it?

    David

  8. #18
    Join Date
    Jun 2004
    Posts
    10,314

    Default

    I suppose it depends on which side of the fence you are on - if it means that, as buyer, you can slide out due to a technicality then it is good but if you are the seller ...

    I am not a lawyer so I really have no idea

  9. #19
    Join Date
    Aug 2003
    Posts
    7,610

    Default

    These are the main differences between the plain English and lawyer style S&P agreements:

    The main differences include:

    * Even if the agreement is conditional on a builder's report, buyers will need "reasonable" grounds to pull out.

    * The building report must be from a "suitably qualified person".

    * Problems with the title will no longer be an instant way to get out of a contract.

    * Instead, buyers will have to go through a process of asking sellers to fix the problem before they can back out and can only dispute a title defect that will or might affect the buyer's use and benefit of the property.

    * Promises (previously knownas warranties) given by vendorsin the new document are widerthan they are in the old ones.
    Are these plain English style contracts in use in any other country?

    Cheers,

    Donna
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  10. #20
    Join Date
    Jun 2004
    Posts
    10,314

    Default

    Suitably qualified person without a definition?
    Reasonable grounds - what is reasonable?

    Need a court to define the plain english


 

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