Albert Street, Masterton
Property Information 22
22 Albert Street, Masterton Property Description
Charming, Class and Convenience
Welcome to a slice of history fused with contemporary comfort where every detail whispers charm and elegance. I am delighted to offer this meticulously renovated character home to the market.
Boasting 3 bedrooms, 2 bathrooms, in a super central location - close to the Masterton CBD, this property offers a lifestyle of convenience and endless possibilities.
With ample space for expansion or development, this property presents a unique opportunity for potential subdivision (subject to council approval), making it an ideal investment for the savvy buyer.
Embrace the allure of a bygone era while enjoying the comforts of modern living. Whether you're searching for your forever home or seeking a savvy investment opportunity, this renovated gem ticks all the boxes. Added extras include a freestanding log burner, large rear deck and stunning character throughout.
Schedule a viewing today and let your imagination run wild with the possibilities that await! Call Lisa Patrick on 027 4650012.
Please copy and paste this link into your browser to view Property Files: https://www.propertyfiles.co.nz/property/M26325
Legal description
Legal description
Being more particularly described in the attached Record of Title.
Chattels
Pre Purchase Disclosure
Blinds, Curtains, Dishwasher, Freestanding Fire, Fixed Floor Coverings, Gas Bottle – Hired, Bathroom Extractor Fan, Hob – Electric, Laundry Tub, Light Fittings, Underbench Oven
3 dwellings are in the process of being built on the neighbouring section at the rear of 22 Albert Street.Recent leak in roof has been repaired April 2024.
Disclosure
The material supplied is passed to you on behalf of the vendor and in no way does the vendor or the vendors agent accept any responsibility for the veracity of the information. The information does not purport to contain all information that a prospective Purchaser may require. The purchaser is advised that after reading the information contained, they should seek legal and professional advice from the purchasers own advisors and are further advised to check with the originators of the material that the information is complete and correct. This LIM or any other reports should be in the purchasers own name if they want to have any recourse against the issuer/provider or any other persons for omissions or errors that have been relied upon. Neither the vendor or the vendors agent make any representation or warranty as to the accuracy or completeness of the information contained.
Albert Street, Masterton 3 2 2 Legal
Freehold
22
Estate
Legal/lot/flat/unit/legal DP Lot 7-8 - 1476
Legal Unique Identifier or CT WN382/225 Land area 1042
m Garages and/or Carports 2 Rateable value $510,000 Land value $240,000 Improvements $270,000 City Council Rates 6,754.30
sq
1930-39
Age
What you need to know
Register Only Search Copy Dated 11/12/23 1:41 pm, Page of 12 Transaction ID2201314 Client Referencejpaine001
Identifier WN382/225 Land Registration District Wellington Date Issued 22 December 1927 Prior References WN161/271 Estate Fee Simple Area 1042 square metres more or less Legal Description Lot 7-8DepositedPlan1476 Registered Owners
Interests 12557573.2 MortgagetoBankofNewZealand-27.9.2022at11:20am 22 Albert Street, Masterton
RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 FREEHOLD Search Copy
Arika ShayleFeliseastoa2/3share Andrew JohnReidastoa1/3share
Identifier WN382/225 Register Only Search Copy Dated 11/12/23 1:41 pm, Page of 2 2 Transaction ID 2201314 Client Reference jpaine001
Deadline process guidelines
Selling by Deadline has become a very common method of sale for residential property.
The information below is provided as a general overview of the deadline process.
Tremain Real Estate advise both vendors and purchasers to seek independent legal advice regarding deadlines. Purchasers should seek legal advice prior to submitting an offer.
Buying or Selling by Deadline
Buying or selling by deadline is when prospective buyers submit confidential written offers for a property to the agent on (or before) an advertised day and time, for the seller’s consideration. Selling by deadline allows all potential purchasers the same opportunity to make an offer at the same time. Purchasers do not know what other people are offering in advance of the deadline. The agent will present all offers to the seller at the same time, the seller weighs up offers and conditions and decides which, if any, they want to accept. The seller can reject all offers. There is no reserve price (the lowest price the seller is willing to accept) but there may be a price guide provided by the agent through the period of marketing. Buyers are free to form their own opinion on value and offer as they wish.
Two Types of Deadlines
Commonly referred to as either an Open Deadline or a Closed Deadline. Marketing materials must make it clear if the property can be sold before the deadline. If it can be sold prior to the advertised deadline it will say “unless sold prior”. If it cannot be sold prior to the advertised deadline it will say “no offers prior”.
• If a purchaser has an interest in a property that is advertised for sale by Deadline (unless sold prior), purchasers may register their interest with the agent and ask to be kept informed if someone else makes an offer. The agent has a duty to that purchaser and they would have the option of making an offer at the same time.
• In the instance of a pre deadline offer, a purchaser would advise the agent of their desire to submit an offer prior to the closing date. The agent has a fiduciary duty to their vendor to advise all potential purchasers of the same.
Should any other purchaser also wish to submit a written offer, then the agency will set a deadline and allow all purchaser’s the same opportunity to prepare their written offers for the vendor’s consideration.
• Should this situation arise all purchasers will be advised they are in a Multiple Offer situation and will be required to sign a Multiple Offer form, an acknowledgement to this effect.
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The Deadline and Sale & Purchase Agreement Documents
The salesperson prepares the sale & purchase agreement documents.
A purchaser should ask the agent for a copy of these documents. Read them carefully, including conditions inserted by the vendor, or amended clauses.
• Purchasers are encouraged to submit their best offer on a legally binding agreement ‘Agreement for Sale and Purchase of Real Estate’ which includes the price, deposit amount and any conditions attached to the offer.
• Purchasers have the right to include conditions in favour of the purchaser on the sale and purchase agreement document. Take advice from the agent and through a lawyer. Understanding that while price is paramount, less conditions or cleaner conditions, will also be more favourable to the vendor.
A Vendors Rights at Deadline Sale
• The vendor has the right to accept any offer submitted.
• The vendor has the right to reject all offers submitted.
• Under a deadline sale situation there is no assurance given that the vendor will negotiate.
The vendor may choose to negotiate with one preferential offer, to the exclusion of all others after their opening . To be clear - the vendor can negotiate with one party and one party only. The agent will be instructed to negotiate with one party. If agreement cannot be reached with the preferential offer, the vendor can then ask the agent to negotiate with another offer. The vendor has the right to dismiss all offers. They could ask for a new deadline to be set and allow all purchasers a further opportunity to reconsider their position.
> Once a deadline is accepted
The purchaser is now in contract with the vendor (Under Contract) and can work through any conditions towards achieving an unconditional contract and settlement.
> If a deadline is rejected
The prospective buyer is under no legal obligation and free to pursue other purchase options. Any deposits will be returned.
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Lisa Patrick
Lisa assists her clients in residential and lifestyle properties. Her professional approach, combined with a talent for problem solving, negotiation and property analysis, proves to be a great asset for her clients.
With a highly successful career in education and marketing Lisa brings a competitive edge and solid work ethic to Tremains. Having specialised experience in the Masterton residential real estate market, Lisa now extends her passion and business into the residential and lifestyle sector across the Wairarapa.
027 465 0012
lisa.patrick@tremains.co.nz
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