Proppy
The smarter way of buying and selling real estate

Can you please explain the legal engagement model and how does my lawyer know when his services are required? Who contacts my lawyer and at what stage of the process does my lawyer need to be engaged?

The process in which the seller's lawyer is engaged is totally up to the seller of the property.  However, we strongly advise that you get your lawyer involved in the process as soon as possible.

Proppy will draft the Sale & Purchase documents for your review.  We recommend that you forward the draft on to your lawyer for their legal review as this is a legal document and once signed, will be legally binding.  If you would like Proppy to forward this to your lawyer on your behalf, please let us know by emailing helpme@proppy.co.nz

After both parties (the buyer and seller) have signed the legally binding documents. please ensure that you forward this on to your lawyer.   If you would like Proppy to forward the completed and signed Sale and Purchase agreement on to your lawyer on your behalf, please let us know by sending an email to helpme@proppy.co.nz .

 

Can you recommend a lawyer as I do not have one?

We do not recommend specific lawyers but we do suggest you go to this list of lawyers from the NZ Law Society. 

 

Do I need a solicitor when buying and selling through Proppy?

Regardless of whether you are a buyer or seller, we strongly recommend that you use a solicitor. While you won’t need one initially, you will require one to complete the sale. You can choose your own solicitor, and if you don’t have one, we suggest you search for one here

Do I need to set a price when selling my house by online tender?

There is a preferred price, but this is only used for searching purposes, it has nothing to do with the trade.

Do you hold my credit card or debit card details?

The debit or credit card details you provide to make a purchase will not be stored by Proppy. This information will be handled by Payment Express (our payment provider).

Do you take foreign currency?

No, all property transactions must be in New Zealand Dollars ($NZD).

It is very easy to transfer foreign currency into New Zealand Dollars (as long as you met all NZ property law regulations). Once again we strongly recommend legal advice if unsure.

Do you use the approved Auckland District Law Society and Real Estate Institute of New Zealand Incorporated approved Sale & Purchase agreements?

Yes, Proppy has carefully ensured we are using the most up to date agreements from REINZ and ADLS. This gives you, and your lawyer confidence, and the familiarity of using the correct and well known agreements. Therefore, there is no confusion for New Zealand lawyers conducting the conveyancing at the end of the sale process.

Proppy does not change or alter the ADSL sale and purchase agreements. We add conditions and terms of sale details just like any real estate agency, thus ensuring you get a sale and purchase agreement to progress through to sale.  

 

Does a lawyer monitor the online auction on behalf of Proppy as a safeguard?

Proppy has its own internal auction platform that is tried and trusted. The online auction engine is an extremely reputable solution. Lawyers have reviewed our Proppy platform to ensure we are compliant, and rest assured we have a robust solution for you to confidently complete transactions on.

Does Proppy accept pre-online auction offers?

If the online auction is advertised as “unless sold prior” Proppy will accept unconditional pre-online auction offers. If a pre-online auction offer is made then Proppy will notify the seller (vendor) that there has been an unconditional offer made and if the seller agrees Proppy will bring forward the online auction. If the online auction is brought forward then all interested parties will be notified of the new date, and the unconditional offer will be the first bid of the online auction

Does Proppy comply with the rules of Professional Conduct and Client Care?

We provide absolute transparency and independence when providing professional conduct and care. By providing more information to owners and buyers than a standard agency, we believe we surpass the REAA guidelines. Proppy believes more information is best, and particularly so when this information is delivered consistently. This is a standard that our clients know and can rely on. While we are an online service, our legal advisers have ensured that every feature of our service is fully compliant with the Property Act in all respects. An example of this compliance, is knowing that all our clients receive the appropriate guidelines from the REAA and that these have been read and understood. We believe that this is a better solution, than the current situation where these guidelines can sit in offices or on kitchen benches, without any mechanism to verify that they have been read and clearly understood.

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