After the recent floods, you may notice houses with white, yellow, or red stickers. These stickers indicate the level of damage caused by floods, which is a critical consideration for property buyers and renters in flood-prone areas.
White-stickered houses mean that the building has no or minimal damage and is safe to occupy. These houses are generally in good condition and are at lower risk in case of flooding.
Yellow-stickered houses may have some damage and be potentially dangerous and have some restrictions on use. The extent of the damage and necessary repairs will depend on the specific circumstances of the flood and could be problematic for potential buyers. Insurance companies may also require additional information, such as an engineering report, before offering any coverage on a yellow-stickered house.
Red-stickered houses indicate that the building is not safe to occupy and must not be entered. These houses have significant damage that poses a high risk to residents in case of flooding. Red-stickered houses may require extensive repairs or may need to be demolished entirely, depending on the extent of the damage.
Red and yellow stickers are formal notices under the Building Act 2004 and cannot be removed, damaged or altered. If you do not comply with the requirements or restrictions under the stickers you could be liable to pay a fine.
If you are looking to buy or sell a property and are wanting more information on this or any other legal issues you can contact Kemp Barristers & Solicitors at info@kempsolicitors.co.nz or 412-6000.
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