Archive for May, 2010
Certificate of Title report for a individual property – new feature on Zoodle
Filed under: Blog, Online property reports, Site Announcements Responses: 5 Comments
Zoodle is now able to offer you the opportunity to order a Certificate of Title for the vast majority of properties across New Zealand. At a cost of just $11.25 the certificate offers a very convenient means of verifying the legal details of a property.
The Certificate of Title details the legal owner of the property and shows everything registered against the property title. The Certificate of Title details whether there are any Mortgages, Leases, Easements, land usage restrictions, or other interests registered against the property title. It will also tell you whether the land is freehold or leasehold. The Certificate of Title includes a separate page with a simple diagram of the deposited plan of the property, normally showing the property’s area and dimensions.
This service is an addition to the regular online reports offered for properties. The process for delivering the report remains as a pdf document viewable online or by email, the process for production is somewhat different. Certificate of Titles are constantly updated and as such it is important that any order received on Zoodle is checked by Terralink International prior to distribution so as to ensure accurate representation.
It is for this reason that the ordering of a Certificate of Title can and does take a few hours. Whilst we are unable to guarantee a delivery time for this report we will commit to deliver the report no later than the morning of the next working day. We should point out that Terralink does offer an urgent delivery service which for $16.25 provides a 30 minute turnaround time during business hours.
To order a Certificate of Title just search your chosen property and then click on the link to proceed to the checkout. Here is a sample of a Certificate of Title.
Mortgagee sales begin to ease
Filed under: Blog, Terralink Mortgagee Sales Report Responses: 0 Comments
The latest data of mortgagee sales for the month of February show that the pressure on homeowners struggling under mountains of debt may be easing.
A total of 121 mortgagee sales were registered in the month of February in data released by Terralink International. This total compares to 124 for the same month last year. This is the first time since November 2007 that the year on year change has shown a negative variance. For the past 27 months the picture has looked bleaker every month with some months showing year on year increases of up to 8 times. On a seasonally adjusted basis the month of February showed a 30% decline from January.
As the chart below shows the figures for February are traditionally lower than other months, and it is quite likely that the March sales may well be higher than February has been.
Seen over the course of the past 3 years it is very clear the impact that the economic recession had on distressed homeowners who were forced to accept mortgagee sales as a route to exit the debt burden.
These trends in mortgagee sales naturally track closely the number of listings that come onto the property market as mortgagee sales or mortgagee auctions. Realestate.co.nz provides a detailed tracking of these listings for the past 3 years on a weekly basis. The latest data is that there are currently 291 properties being marketed on the website as mortgagee sales. The chart below track the progressive build of listings over the period of 2008 and then the subsequent decline in number which began around a year ago.
In terms of regional breakdown of the sales of mortgagee properties, the majority of the sales are to be found in the larger regions of Auckland (37%), Waikato (11%), Canterbury and Wellington (7% each). The slightly higher representation of Northland at 9% of all sales in February and Otago (inc Queenstown) at 8% of sales would tend to indicate pressure in holiday homes potentially.
The regional breakdown on February sales is detailed below with the comparative latest 3 month average figures as well as year on year variance.
Tags: foreclosure, mortgagee
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