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Is there a defect and maintenance period?

Yes. A full 90 day defects and maintenance period will apply and cover all workmanship and materials. All maintenance and remedial works will be coordinated by the developer.

Are there any visitor car parks?

In addition to the allocated carparks there are uncovered designated carparks clearly marked for their use.

What type of security will the boatsheds/apartments have?

Advanced heavy duty lock systems for doors.
Regular surveillance by Body Corporate manager or its agent.

Is there advanced cabling in my boatshed/apartment?

Yes, cabling will be installed to the standard of the latest advanced technology.

Does my unit have Sky TV and digital TV?

No. Your unit will be cabled for Sky and digital TV capability utilizing the latest advanced technology. Connection to Sky TV or digital TV will be your responsibility.

What has been done to ensure quietness in my boatshed/apartment?

Insulated to NZBS.

Is there parking for boats?

Yes.
Apartments: some internal.
Boatsheds: garaging option.

What safe guards are in place to ensure my boatshed/apartment does not leak?

All construction will be to the latest building codes. Only quality materials are being used.

What options are there for floor colour?

Just one timeless colour scheme is offered. It has been specified by renowned designer Neil McLachlan, along with all internal finishes.

What am I purchasing?

You are purchasing a leasehold strata title to a boatshed/apartment together with a secure carpark. You will own the boatshed/apartment, carpark and chattels, fixtures, fitting and equipment making up the boatshed/apartment as defined in your Sales and Purchase Agreement.

What is the purchasing procedure?

An initial deposit of $5,000 in cash is payable upon signing the Sale and Purchasing Agreement. A further amount to make up 10% of the purchase price is to be paid within 20 working days of signing the contract. A Deposit Bond instead of cash may be issued for the balance of the deposit due.

What is a Deposit Bond?

It is a Bond issued by your Bank that guarantees to the Vendor that it will receive an amount equivalent to the balance of your deposit at some pre-determined date in the future. That date will be the date on which the title issues for your unit.

What are the advantages in using a Deposit Bond rather than a cash deposit?

A deposit bond allows you to utilize the equity in your home, instead of cash, to secure the property. This enables you to use your valuable cash elsewhere.

Is my deposit protected?

Yes. All deposits are paid to the Developer's solicitors trust account as stakeholder. This means it cannot be released unless you and the Vendor agree. The deposit remains in the stakeholders account until the property is completed and the unit titles are issued and is only then released to the Vendor with your agreement. Interest earned on your deposit will be credited towards part of your purchase price on settlement. In the event the contract fails to become unconditional in accordance with the Sale and Purchase Agreement, the deposit and interest will be refunded to you.

When do I settle on my boatshed/apartment?

Completion is estimated to be around twelve months after obtaining Resource Consent. You will be required to pay the balance of the purchase price on settlement, which is five working days after new titles issue or five working days after a practical completion certificate for your unit has been issued whichever is the later.

What outgoings do I pay?

You are required to take responsibility for payment of Body Corporate Levies and costs relating to your boatshed/apartment, for example:

• Council Rates
• Utilities such as electricity, water, telephone and sky
• Insurance - Building and Contents
• Ground Rental

For a more comprehensive list refer to the development executive summary.

How does the Lease work?

The lease has an initial term of five years plus two further rights of renewal of twenty five years. Within ten days of the last Rent Review prior to the Final Expiry Date of the lease, the Lessee can apply for a new lease of twenty five years on the same terms. If that is not granted by the Lessor then the Lessor must purchase all boatsheds and apartments at a market value as determined by valuers appointed by the parties.

What warranties and guarantees are provided?

You will be covered by the Developer's 90 day defects and maintenance warranty which covers all workmanship and materials defects noted during that 90 day period. All building warranties and guarantees will be transferred to the Body Corporate and held by them. Further, the vendor will ensure the benefit of all such other warranties and guarantees (equipment, chattels and appliances) are transferred to the purchasers on settlement.

Will there be a Body Corporate managing the property with the building manager?

The Body Corporate is required by law to manage the administration and common property of the complex. The manager and secretary will be appointed closer to completion of construction.

As an owner, can I be on the Body Corporate committee?

Yes, every year elections are held to elect owner representatives to the Body Corporate.

 What is the Body Corporate Levy?

The Body Corporate levy covers all such items specific to the residential properties.  Although a preliminary Body Corporate budget has been prepared, a final budget will not be finalised until closer to completion when contracts have been let and expenses have been clearly identified.

How do I know my unit will be rented out?

Each unit owner that subscribes to the Motel Accommodation Scheme will receive equal treatment. If you subscribe to the Scheme, the use of your unit will be rotated with the other units participating in the Scheme.