We buy your earthquake damaged property in 6 steps.
As Is Where Is, what does that mean and how does it work?
What does As is Where is mean?
The term ‘As Is Where Is’ is predominantly used in Christchurch property to describe a dwelling that is damaged and the owner has accepted a cash offer from EQC and their insurance company. The owner keeps the money from EQC and the insurer, but their current insurance policy will not transfer to the new owner. This means an "As is Where is" clause is added to the sale and purchase agreement.
As the property is still damaged and uninsured, selling As is Where is removes the vendor warranties from a contract and we as the purchaser acknowledge the stipulation of this clause. This is why the vendor is able to keep the insurance money that has been paid out for the repairs that are yet to be completed. Once we purchase the property, we begin the task of remediating the dwelling back to a post-quake standard. We have completed many of these properties now and we know the systems to keep it as simple as possible for you, the owner and us the buyer.
Selling As is Where is, how does it work?
Arete Property is a private buyer, that means no real estate agents commissions payable on the sale price, no middle man, you keep all of the money we offer.
Agents will often try to ‘buy’ an As Is Where Is listing by saying the owner may get more at auction. Although auction is a viable option to selling your property, with a bidding war being the best outcome. There will always be uncertainty on the offer you'll get. In the past, we have seen many examples where the owner ended up with less than we offered, and then had to pay agents fees and marketing costs, lowering the actual money in your pocket even more.
As private buyers, the amount we offer you, is the amount you get! No hidden costs and no ‘you might get more’ promises. We pay what we offer, we also like to provide an extra level of flexibility by letting you choose the settlement date, within a range of 12 months so there is no set date for moving out. We're more than happy to make you an offer as soon as possible after we've viewed the property. We're even able to do a virtual viewing over a video call and make an offer the same day.
We are proud to replenish the housing stock of Canterbury and we repair all of our properties to a high standard. Check out the properties that are currently for sale.
WHAT OUR CLIENTS THINK
Ant and Paul are the definition of professionals and true gentlemen. They have been very easy to deal with offered a price that was suitable to both parties and offered us the utmost flexibility to allow the deal to go through. They have continued to be flexible with our ongoing demands and changes through the process and we thank them for that. I have no problem in recommending Arete to anyone.
I was dreading the process of selling our ‘as is where is’ house. By chance I contacted Arête Properties, and was so impressed. They offered a price which was close to Real Estate appraisals, were friendly, professional, always punctual, and communicated through every step of the way. They were understanding and flexible when there were hold ups from my end. I kept thinking this was too good to be true. But it wasn’t . These guys were great.