O’Neill Devereaux partner Todd Whitcombe holds up an agreement to reinforce a point about less forgiving real estate sale dynamics. Photo: Gregor RichardsonPleading poverty to get out of a property deal is likely to get harder as part of a tightening up of real estate sale and purchase agreements this week. Published by the Real Estate Institute of NZ (REINZ) and Auckland District Law Society, the new template makes it tougher to use a finance clause to back out of a deal in the event a buyer getting of cold feet. ‘‘However, under the changes to the finance condition purchasers will now be required to provide evidence if they can’t raise finance. Changes to the standard sale and purchase agreement template include.

Source: Otago Daily Times December 02, 2019 15:33 UTC