Standard Procedure for Purchase of a Residential Dwelling

The following outlines the standard procedure Pier Law performs for purchasing a residential dwelling. Many of these steps must be handled by your lawyer. At Pier Law we provide full services for your residential legal needs. Don't hesitate to contact us if you are purchasing a property. The standard specification for a purchase is as follows:

  1. Perform a preliminary interview - ideally before the contract is signed - to discuss purchase price, basis of financing, contract terms, and pitfalls.
  2. Receive and peruse contract
  3. Report to Purchaser with details in relation to the contract enclosing Letter of Engagement, Information for Clients and Standard Terms of Engagement.
  4. Report to agent and solicitor for vendor, and confirm time for confirmation of conditions
  5. Perform an Edealing title and associated documents search
  6. Obtain a Land Information Memorandum (LIM)
  7. Discuss title and Land Information Memorandum with purchaser
  8. Perusing and considering valuation report (if required)
  9. Attendances relating to obtaining confirmation of conditions from client or third parties
  10. Setting up the dealing in the landonline Workspace
  11. Confirm conditions to vendor's solicitors including detail as to conveyancing principal, primary contact, and Edealing number
  12. Prepare Client Authority Forms and Sale Notices together with settlement procedures and undertakings
  13. Forward sale notices, and settlement procedures and undertakings to vendor's solicitors.
  14. Prepare documentation associated with mortgages including waivers of independent legal advice, company minutes, directors certificate and prepare solicitors' certificates
  15. Attend signature of mortgage documents and Client Authority forms
  16. Receive and check settlement statement
  17. Ensure insurance details have been received
  18. Sending Solicitor's Certificate to Bank
  19. Arrange for payment of purchase price (or cash contribution if mortgage required) and disbursements and costs if appropriate to the credit of the trust account in time for settlement
  20. Obtain Guaranteed Search within 14 days of settlement
  21. Setting up electronic transfer of settlement monies
  22. Arrange time for settlement and for transfer of settlement monies upon receipt of Vendor's solicitor's undertakings
  23. Complete settlement ensuring certification of Edealing documentation and release of discharge (if required) and transfer and mortgage in the Land Information New Zealand Workspace
  24. Ensure the keys are uplifted and passed to the purchaser by arrangement or other suitable arrangements made for possession
  25. Report and account to purchaser with copy of computer register title
  26. Forward computer register title and original solicitors' certificate (if required) and other security documentation to mortgagee as appropriate
  27. Receive payment of any balance outstanding from client

Enlist Our Services

If you are interested in more information or advice on residential law, please contact one of our friendly staff at the Kaiapoi or New Brighton offices to arrange an appointment.