Deadline looms for red zoners

Posted 10 Aug 2012 by MediaStuff Popular
This item was posted on the Stuff.co.nz website - click here to view the original

 

Canterbury's first red-zoned residents have one week to go until the deadline to accept the Crown offer for their properties expires.

Sixty-six red zoned property owners are yet to formally accept the Crown offer, which expires on August 19.

Crown offers were made to 2970 homeowners following the first round of land zoning decisions, announced in June last year.

Canterbury Earthquake Recovery Authority said today of the 66 property owners in this group who had yet to return the appropriate paperwork, 45 people had told Cera they intended to accept the offer before the deadline.

Of the remaining 21 property owners, 12 had said the difficulties hindering their ability to make a fully informed decision relate to claims with their insurer and EQC.

Nine property owners had told Cera they have yet to make a decision at all.

Cera chief executive Roger Sutton said as the expiry deadline approached, his staff had been in "close contact" with many of the properties owners "to ensure they have all the information they need".

That had included phone calls and letters, he said.

"These are not easy decisions for people to make, and people living in these worst affected areas of the city having already been through so much. We have consistently said these people need to take the time to get the best advice they can, before making a decision," he said. 

"There are a number of days left to decide, but people do need to ensure they have the legal paperwork back to us by August 19 to be eligible for the Crown offer."

Of the 2970 who returned consent forms, 2904 had selected either Option 1 or 2, and returned their signed sale and purchase agreement.

Returning a signed agreement means the property owner will have chosen a settlement date.

The settlement day is when they have to move out, regardless of the type of offer they choose.

Property owners must return a Sale and Purchase agreement within 12 months of the date on their letter of offer from the Crown or until March 31, 2013, whichever comes first.

The last date that they can choose to settle the sale of their property to the Crown is April 30, 2013.

Property owners in South New Brighton and Southshore who were zoned red on May 18, 2012, have up to 12 months from the date of their offer letter or until May 31, 2013, whichever comes first, to return their Sale and Purchase agreement.

The final date for these property owners to settle with the Crown is June 30 next year.

Offers have yet to be sent to the most recently designated red zone properties in the Port Hills.

The total numbers at 10am today Friday, August 10 are:Currently a total of 86% of all property owners across all residential red zone areas who have received a Crown letter of offer have signed a sale and purchase agreement.

- Total Red Zone properties 7560

- Consent forms returned 6857

- Sign sale and purchase agreements 5572

- Settled and been paid out 4402

Of those 4402 settlements, 1111 have selected Option 1 and 3291 have selected Option 2.

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