Why apartment buyers may struggle with information disclosure

Author
Newstalk ZB,
Publish Date
Tue, 11 May 2021, 11:07PM

Why apartment buyers may struggle with information disclosure

Author
Newstalk ZB,
Publish Date
Tue, 11 May 2021, 11:07PM

A documentary that aired on Prime recently has shined a light on one difficulty apartment buyers face.

Many buyers would want to know if their potential new home is leaky, earthquake-prone or the subject of court proceedings.

However, the Real Estate Institute says that under current law, it's surprisingly difficult for buyers to get access to these details.

REINZ's Dee Crooks told Andrew Dickens that some body corporates do provide the information, but it is not a requirement. 

She says it's easy for standalone properties to independently inspect a building, but apartments are a different story.

"If you are in an apartment and you are 15, 20 storeys up, it's pretty difficult for that builder to go round and check the property is weather tight."

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