In 33 years in the real estate industry I have seen a lot. There have been a lot of changes but none as great as the new AML (Anti-Money Laundering) policy imposed on our industry by the Department of Internal Affairs from 1 January, 2019.
For those people selling property, the questions salespeople have to ask now can most certainly feel personal and invasive. Having to ask questions of the vendors’ wealth and how they paid for their property (where a property is in a trust) is a really uncomfortable situation for salespeople as well.
However, two months down the track and upon reflection, it would have been far easier had there been more education available to all parties. This is what we are trying to do now.
We have created an excellent video, to prepare you for the questions that may be asked of you and what evidence you may have to provide.
More often than not, it’s more straight forward than it seems – it’s just knowing what and why.
If you are considering selling, view the video at eves.co.nz/AML or get in touch with one of our salespeople so you’re well informed when it comes time to list your property.