10 Jan 2014

Deadline nears for red-zone owners

7:06 am on 10 January 2014

Christchurch homeowners whose have sold their red-zoned properties to the Crown may face penalties if they have not moved by the end of the month.

The final settlement date for properties in the residential red zone flat-land area is 31 January.

The Canterbury Earthquake Recovery Authority said anyone who defaults on their sale and purchase agreement may have to pay up to 10% of the value of their property as a penalty.

Chief executive Roger Sutton says most of the 157 owners affected have either moved already or are on track to move within the next three weeks, but about 20 have indicated they will not make that deadline.

Mr Sutton said he will consider waiving the penalty interest for a short period in some cases where people are faced with particularly difficult circumstances.

He said a small number, perhaps half a dozen, have health or other issues that make it difficult for them to move, and CERA will work with them.