Tackling money laundering

Anti-Money-Laundering

To improve New Zealand’s ability to tackle money laundering and terrorism financing, the Government has made law changes that affect various businesses and professions.

 

Each year about $1.35 billion from the proceeds of fraud and illegal drugs is laundered through everyday New Zealand businesses. These law changes – put in place practical measures to protect businesses and make it harder for criminals to profit from and fund illegal activity. They’ll also safeguard and help New Zealand live up to our reputation as being one of the least corrupt countries and a good place to do business.

 

The law will come into effect in stages for different sectors to give businesses time to prepare for the changes. From 1 January 2019, real estate agents will have to comply with the AML/CFT Act when representing a client who’s either selling or buying real estate.

 

 

Auction Gala success for Queenstown

Queenstown-Property-Auction-Harcourts

Harcourts Queenstown are celebrating after a successful Auction Gala! We had nine superb properties go to auction on Thursday 18 October, with six selling under the hammer.

We’re sure our vendors will agree there are huge benefits of taking a property to auction, take a look at our list of benefits below.

 

The benefits of selling at auction:

  • It can increase the sale price

Competitive bidding can drive up the sale price of your property on auction day.

 

  • It’s quick!

If you’re looking to release equity for another investment – an auction is the ideal sales platform. The marketing surrounding the auction and the set date gives a sense of urgency that often leads to multiple bidders.

 

  • True market value

Though people have an idea what they should pay for the property, there is no chance of you losing out on a sale because the property wasn’t priced to meet the market. The property will sell to the highest bidder for the highest price they’re prepared to pay.

 

If you’re thinking of selling, contact your trusted Harcourts agent for more information about the auction process.

 

Halloween colouring competition – Wanaka

Happy Halloween! Enter our Halloween colouring competition – just print out the below image and let the fun begin!

  • To enter simply scan or photograph your entry and post to Harcourts Wanaka Facebook page by 31st October 2018.
  • Winners will be announced on the 1st November 2018 on the Wanaka Facebook page. Prize(s) are two Prezzy cards to the value of $50 each. The draw will be in two age categories, 7 and under and 8-12 years. One entry per person.
  • The judges’ decision is final and no correspondence will be entered into.
Harcourts Halloween colouring comp A4 sheet_WANAKA
,

Halloween colouring competition – Queenstown

Happy Halloween! Enter our Halloween colouring competition – just print out the below image and let the fun begin!

  • To enter simply scan or photograph your entry and post to Harcourts Queenstown Facebook page by 31st October 2018.
  • Winners will be announced on the 1st November 2018 on the Queenstown Facebook page. Prize(s) are two Prezzy cards to the value of $50 each. The draw will be in two age categories, 7 and under and 8-12 years. One entry per person.
  • The judges’ decision is final and no correspondence will be entered into.
Harcourts Halloween colouring comp A4 sheet_QUEENSTOWN

Halloween colouring competition – Dunedin

Happy Halloween! Enter our Halloween colouring competition – just print out the below image and let the fun begin!

  • To enter simply scan or photograph your entry and post to Harcourts Dunedin Facebook page by 31st October 2018.
  • Winners will be announced on the 1st November 2018 on the Dunedin Facebook page. Prize(s) are two Prezzy cards to
    the value of $50 each. The draw will be in two age categories, 7 and under and 8-12 years. One entry per person.
  • The judges’ decision is final and no correspondence will be entered into.
Harcourts Halloween colouring comp A4 sheet_DUNEDIN

Halloween colouring competition – Cromwell

Happy Halloween! Enter our Halloween colouring competition – just print out the below image and let the fun begin!

  • To enter simply scan or photograph your entry and post to Harcourts Cromwell Facebook page by 31st October 2018.
  • Winners will be announced on the 1st November 2018 on the Cromwell Facebook page. Prize(s) are two Prezzy cards to
    the value of $50 each. The draw will be in two age categories, 7 and under and 8-12 years. One entry per person.
  • The judges’ decision is final and no correspondence will be entered into.
Harcourts Halloween colouring comp A4 sheet_CROMWELL

Halloween colouring competition – Balclutha

Happy Halloween! Enter our Halloween colouring competition – just print out the below image and let the fun begin!

  • To enter simply scan or photograph your entry and post to Harcourts Balclutha Facebook page by 31st October 2018.
  • Winners will be announced on the 1st November 2018 on the Balclutha Facebook page. Prize(s) are two Prezzy cards to
    the value of $50 each. The draw will be in two age categories, 7 and under and 8-12 years. One entry per person.
  • The judges’ decision is final and no correspondence will be entered into.
Harcourts Halloween colouring comp A4 sheet_BALCLUTHA

Halloween colouring competition – Alexandra

Happy Halloween! Enter our Halloween colouring competition – just print out the below image and let the fun begin!

  • To enter simply scan or photograph your entry and post to Harcourts Alexandra Facebook page by 31st October 2018.
  • Winners will be announced on the 1st November 2018 on the Alexandra Facebook page. Prize(s) are two Prezzy cards to
    the value of $50 each. The draw will be in two age categories, 7 and under and 8-12 years. One entry per person.
  • The judges’ decision is final and no correspondence will be entered into.
Harcourts Halloween colouring comp A4 sheet_ALEXANDRA

New restrictions for overseas buyers

Overseas-Investment-Amendment-Bill

The Overseas Investment Amendment Act comes into force on October 22nd 2018 and will impact every residential property transaction.

The bill amendments aim to ensure that investments made by overseas persons in New Zealand will have genuine benefits for the country.

Queenstown Law kindly answered some of the most asked questions regarding the new amendments.

What is included as “Residential Land”

Land that has a property category of residential or lifestyle.

 

Who can buy Residential Land and who needs consent?

  • New Zealand, Australia and Singapore Citizens can purchase with no restrictions;
  • Resident Visa and Permanent Resident Visa Holders of New Zealand, Australia and Singapore need to meet 183 days NZ residing test in the previous 12 months
  • All others will need consent to purchase

 

Are there any exemptions?

Yes. The key ones for the purposes of overseas property investors are:

  • Buying a dwelling in a large apartment block off the plans
  • Buying a Hotel unit and leasing it back for hotel use

 

Transactions entered before October 22nd 2018, when the Act comes into force, will not be affected by the Act. Not sure if the new amendments affect you? Talk to us to find out.

 

Can I use KiwiSaver to buy my first home?

Buying-Home-KiwiSaver

KiwiSaver is a work-based savings initiative where regular contributions are made from your pay and employer. Designed to be a hassle-free way to save for your retirement, you may also be able to withdraw your savings to put towards purchasing your first home.

The rules and regulations regarding KiwiSaver were changed this year, so stay up-to-date and read the KiwiSaver guidelines below:

  • You must intend to live in the home for six months

You must intend on living in the property you have bought using KiwiSaver for a minimum of six months from settlement date. If you use the KiwiSaver HomeStart grant to build your home, you need to live in that house for a minimum of six months from the issue of the code compliance certificate.

  • KiwiSaver member for at least 3 years

After a minimum of three years of being a KiwiSaver member, you can apply to withdraw your savings to buy your first home.

  • You can’t withdraw it all

You must leave your $1000 kickstart in your KiwiSaver account.

  • Be purchasing your first home

The KiwiSaver HomeStart grant must be used to purchase or build your first home, not an investment property. However, there are some circumstances where those in the same financial position as a first home buyer may still be eligible

 

 

Free Appraisals

Want to know what your home's worth?

Sign up for our completely free, no-obligation home appraisal.

captcha
osbornes

SERVICE FIRST

Our approach begins and ends with client care: you are our priority.

osbornes

GLOBAL ATTENTION

The Harcourts international network spans 830 offices in 10 countries.

osbornes

MOST TRUSTED

Harcourts is NZ's Most Trusted Real Estate Brand (Reader's Digest, 2012-16).