The smarter way of buying and selling real estate

What are chattels and fixtures?

When you enter into a residential Sale and Purchase Agreement it is important to understand exactly what is included in the settlement. Both chattels and fixtures will form part of the agreement. 

A chattel is not considered a fixed asset, i.e. it could easily be removed. Standard chattels that are listed in an agreement include the oven, any fixed floor coverings like carpet, blinds, curtains, drapes and light fittings. Other common items listed as a chattel include a dishwasher, waste disposal system, the TV aerial, a range hood, burglar alarm, the alarm monitoring contract, wall heaters, heated towel rail and garage door openers. If chattels form part of the agreement then it is expected that they actually work, and are not subject to a financial contract.

A fixture is physically affixed to the property being sold and not easily removed. Things like a garage, a carport, a gazebo in the garden or a garden shed, a swimming pool or a spa set into the ground are classified as fixtures. If a vendor wishes to remove a fixture before settlement, then it must be expressly stated in the agreement. 

Listing items incorrectly or removing items listed in the agreement could delay settlement.  If you are selling and have decided to not take a particular item with you, and you are unsure of its classification, list it as a chattel. If in any doubt, talk to one of our team online. 

What are Taxable Supplies?

Goods and services supplied in New Zealand in the course of conducting a taxable activity. Suppliers charge GST by adding it to the price of their goods and services.

What are the advantages of a deadline sale?

So why do some owners prefer deadline sales? Deadline sales are less restrictive in that the owner does not prescribe the terms and conditions to apply to the sale. It is not uncommon in tenders for vendors to limit the provisions contained in the standard ADLS tender document. In the deadline sale prospective purchasers are able to include whatever terms they wish on their offer for example settlement date, amount of deposit and conditions to be satisfied. T

Deadline sales add an imperative to the process. They are saying put your best foot forward. You are not going to get the opportunity to go in low and hope to negotiate the vendor down. If you go in below your best price you could well be eliminated from the process at an early stage. The time deadline adds an element of urgency and encourages purchasers to minimise the conditions they require to improve the attractiveness of their offer. It can also encourage pre-deadline offers at the upper end of vendor’s expectations as the prospective purchaser tries to beat the market. In a competitive market this can work well for a owner. After considering offers received, it is still open to the owner to negotiate with one or more of the offering parties.

Talk to a local Proppy expert now about what method of sale is right for your home. Call 0800 776 779 now. 

What are the benefits of Selling through Proppy?

There are many benefits to selling through Proppy.

1) The convenience, you can list a property in the comfort of your home, 24/7, or where ever you maybe.

2) The commissions at 1.5% + GST are much lower than our competitors.

3) Transparency - The marketing packages all include Valuations and Builders reports to help with disclosure and pricing your property. These are only guides and therefore you can put a price that you think your property is worth. You are in control. With a builder’s report coming from BOINZ accredited building surveyors there is no need to have the inconvenience of many builders coming through your property - there should only be one site visit.

4) Online - It’s the way of the future, people are used to online auctions. We believe that selling online can give you access to a greater buying pool. For example -  buyers don’t need to be in the city or town you live in to make the online auction room and times. They can bid or make an offer from anywhere on any device.

5) The paperwork is completed by Proppy. No need to have an agent filling out paper based Sale & Purchase documents. Proppy pays for these documents and fills them out correctly so no mistakes will be made. This saves you time and money.

What are the main advantages for registering with Proppy?

There are so many reasons to register but the main one is that registered Proppy users will have access to all the property’s information, allowing you to make better informed decisions. 

What are the payment options for marketing?

You can pay for your marketing packages two ways through our website

  1. Directly through our payment express screen for payment by credit card or;
  2. Directly through our payment express screen for payment by bank account.   

What are the payment options when purchasing a property?

You will be required to deposit money into a Trust account, maintained by NZ Real Estate Trust, either by cheque or bank transfer. Proppy does not handle any part of the financial transaction, but we will provide the account details when we send you email confirmation that your bid, tender, offer or 'Buy Me Now' has been successful. Your solicitor will also advise you.

If you would like further information on the NZ Real Estate Trust click here

What are the timelines around receiving notification?

Notification will be automatic and will be immediate. However, the delivery of email notifications can depend on your location and speed of your internet service. We suggest that you refresh your screen to make sure you are kept up to date with notifications.

What can a seller do if they don’t like the reports or disagrees with them?

A seller can have a right to reply to the report under the listing and address anything that is in the report. While the official report will be listed on Proppy the seller is welcome to add another report from another supplier. Sellers also have the option of choosing whether to disclose the valuation/s to buyers. 

At Proppy we believe in the following mantra please click here

What chattels do I need to include in my listing?

Anything that you are not taking with you when you move needs to be listed as a chattel. So you will need to list all chattels that will be included in the sale. Proppy will provide you with a standard, such as fixed floor coverings, white ware and curtains. Please give as much information about the chattels as you can. If you know the name and brand of your chattels, please add this information as some buyers like to know this detail.  

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