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Before you sign that sale and purchase agreement
- protect yourself and your family.
This may be the biggest investment of your life. Or it may be another property in your portfolio of properties. Either way, it just makes financial sense to spend a little now to protect yourself from the downside of buying a contaminated property.
So when you enter into a contract with a vendor, make sure you include a clause that allows you to test for methamphetamine contamination. A failed result will allow you to either withdraw from the sale or negotiate with the vendor for having the property decontaminated.
It is far better to be safe than to be sorry.
Depending on the level of contamination, clean up could cost tens of thousands of dollars, and also delay either settlement of the purchase or move-in day by weeks or even months.
You can avoid this hassle by testing before you go unconditional - A screening test can get results almost immediately, and written report will follow within 24 hours.
Contact Linda Reid today for more information.
Sample Clause you can add to your agreement:
This agreement is conditional on the Purchaser being satisfied with a report on the Methamphetamine contamination status of the property obtained from Drug Safe NZ Ltd on or before 4.00pm on …................................
If a non-negative result arises from the report, then the Purchaser must notify the Vendor of the non-negative result and the Purchaser at their sole discretion will be able to cancel this Agreement, or allow the Vendor the opportunity to remedy the contamination. If the Purchaser decides to allow the Vendor to remedy the property, upon receiving the notice of the contamination the Vendor will advise the Purchaser within five working days as to whether they will remedy the property. If the Vendor fails to respond or advises the Purchaser within the 5 day period that they shall not remedy the contamination, the Purchaser at their sole discretion will be able to cancel this Agreement. This clause is inserted for the Purchaser’s benefit.
It just makes sense to take control of the sales process and book a test before you place your property on the market. It's not about you knowing your house is uncontaminated... It's about proving it to buyers.