Buying guide
Understanding a Sale & Purchase Agreement in NZ
You can’t buy or sell a house in NZ without both parties signing a sale and purchase agreement.
AI summary
A Sale & Purchase Agreement is the legally binding contract for buying or selling a house in New Zealand. It's crucial to get legal advice before signing.
This document details the price, deposit, chattels, and key dates like the unconditional date and settlement date. An agreement can be conditional on factors like finance or a building report. Once conditions are met, it becomes unconditional, locking in the sale. The buyer also has the right to a pre-settlement inspection.
What is a sale and purchase agreement?
Before you sign a sale and purchase agreement, make sure you have all these things checked.
What does a sale and purchase agreement include?
Both buyers and sellers can add conditions to a sale and purchase agreement.
Conditional vs. unconditional agreements
Checking your pre-settlement obligations
What if you can’t meet the conditions?
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