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Thread: Real Estate question for those in the know

  1. #1
    The Original Striker
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    Real Estate question for those in the know

    looking at buying a house but its subject to "section 27b".

    Ive looked it up and know what it is but I was just wondering if anyone as brought a house or land subject to it and how hard is it to be removed?

    cheers
    Bigger Better Faster Stronger
    Handle the Jandle, or get off the Beach

    The Original Striker

  2. #2
    Member northdude's Avatar
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    be to risky for me to touch

  3. #3
    The Original Striker
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    thats what im thinking be good if i could work around it though
    Bigger Better Faster Stronger
    Handle the Jandle, or get off the Beach

    The Original Striker

  4. #4
    GWH
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    I don't know how long the process of the removal application would take, but I would just make any S&P agreement conditional upon the successful removal of the 27b memorial.

    Therefore you only buy it if the 27b can be successfully removed.

    Probably pay to include a sunset clause on it.
    striker and Sarvo like this.

  5. #5
    If your not fast your last Shootm's Avatar
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    @GWH might know a bit about this.

    I Have Sexdaily. I mean Dyslexia! Fcuk!

  6. #6
    If your not fast your last Shootm's Avatar
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    Quote Originally Posted by GWH View Post
    I don't know how long the process of the removal application would take, but I would just make any S&P agreement conditional upon the successful removal of the 27b memorial.

    Therefore you only buy it if the 27b can be successfully removed.

    Probably pay to include a sunset clause on it.
    You posted as I was typing.
    GWH likes this.

    I Have Sexdaily. I mean Dyslexia! Fcuk!

  7. #7
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    Quote Originally Posted by GWH View Post
    I don't know how long the process of the removal application would take, but I would just make any S&P agreement conditional upon the successful removal of the 27b memorial.

    Therefore you only buy it if the 27b can be successfully removed.

    Probably pay to include a sunset clause on it.
    In another life I used to do the ground work for the removal on the 27B

  8. #8
    The Original Striker
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    Cheers guys. Ive got a couple of enquiries out so ill see where it leads. @Chop3r mind if i send you a pm after work
    Bigger Better Faster Stronger
    Handle the Jandle, or get off the Beach

    The Original Striker

  9. #9
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    What is 27B? Looking at buying and have not heard of it. Is it something I should watch for?

  10. #10
    GWH
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    Quote Originally Posted by timattalon View Post
    What is 27B? Looking at buying and have not heard of it. Is it something I should watch for?
    Pretty rare in my experience. With the work I do I've been involved in hundreds of property purchases abd I've never yet seen a property subject to it. But it may well be more common in various areas.

    Just Google it for an explanation

    Sent from my SM-G900I using Tapatalk

  11. #11
    Ex stick thrower madjon_'s Avatar
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    Quote Originally Posted by timattalon View Post
    What is 27B? Looking at buying and have not heard of it. Is it something I should watch for?
    Before buying in Richmond we looked at a property in Wakefield on the old railway reserve wi h was subject to a sec 27b.
    Our Lawyer took it to the partners smoko chat,concensis."although there had been a full and final settlement" the 27b would stand and could be invoked if a future claim was made.We could apply to have it removed.
    As I remember,6 years ago
    https://www.waitangitribunal.govt.nz...d-section-27b/
    Sako Rifles,Browning shotguns,Black Labs.There is nothing else

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  12. #12
    Member Maca49's Avatar
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    Tell em fuck or get it as leased land dollars
    jakewire likes this.
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  13. #13
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    Quote Originally Posted by GWH View Post
    Pretty rare in my experience. With the work I do I've been involved in hundreds of property purchases abd I've never yet seen a property subject to it. But it may well be more common in various areas.

    Just Google it for an explanation

    Sent from my SM-G900I using Tapatalk

    Cheers. I thought it might mean fancy foundations or insurance issues.. Cheers.

  14. #14
    The Original Striker
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    I turned it down. my lawyer and myself have tried to contact the waitangi tribunal over the last week and couldn't even get them on the phone.
    so its been put in the way too hard basket and way too risky.
    Bigger Better Faster Stronger
    Handle the Jandle, or get off the Beach

    The Original Striker

  15. #15
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    What part of the country are you looking, and where is your lawyer from? I ask as in some parts of the country s27B's are not uncommon......and still plenty of people piling in to buy the affected properties....AFAIK it only applies to ex-SOE land, and can only be invoked when the Waitangi Tribunal orders a return of land. And even then its the Crown who has to compulsorily re-purchase the property from the owner to hand it over. I recall some family friends moved locally around 20 years ago and were warned off an affected property by their solicitor from their old home town as it wasn't something they had to deal with there.

    I'd also suggest its a useful exercise to establish how many times its has happened since s27 B has been available. Subject to the specific circumstances I think the risk of it actually happening approaches the chance of a politician telling the truth. I would qualify my limited knowledge though by noting the situations I am familiar with are ex-Landcorp land being turned into new subdivisions, rather than say an isolated ex-Railways house stuck in the middle of a chunk of attractive land that might be cheap-ish to acquire.

 

 

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