Owners of on-sold homes have only nine months left to register their interest in receiving an ex-gratia payment to repair earthquake damage to their homes, so the Earthquake Commission (EQC) is encouraging eligible homeowners to register as soon as possible.
On August 15, Grant Robertson, the minister responsible for EQC, and Megan Woods, the minister for Greater Christchurch Regeneration, announced a new policy that allows owners of on-sold over-cap properties in Canterbury to apply for an ex-gratia payment from the government to have their homes repaired.
The policy is only available for 12 months starting August 15, 2019, so EQC is encouraging all eligible homeowners of on-sold properties to inform it of any damage that requires repair as soon as possible.
“Because the policy is only available until 14 August 2020, homeowners with outstanding damage should start considering whether or not they need to register an interest now”, said Renée Walker, deputy chief executive at EQC.
“We’re very pleased to have a way to help on-sold homeowners who haven’t previously had a way to fund repairs to earthquake damage. But we need homeowners to get in touch so that we can start the process of determining whether they’re eligible and if they are, helping them to get repairs underway.”
EQC also advised potential homebuyers to do their research on homes in Canterbury to ensure that they’re well informed about the condition of the property they’re interested to buy.
“It’s more important than ever that when you’re looking to buy a home in Canterbury, you’re doing thorough due diligence and you know the condition of the house you’re buying,” Walker said.
“We’re still hearing about people relying on EQC assessments when they’re looking at buying a home, without realising that the assessment doesn’t tell you about any other non-earthquake related issues or whether the damage has actually repaired. This could come at a serious cost later on, so we strongly advise home buyers to invest in a pre-purchase inspection, which should identify any future maintenance costs.”
