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 and Purchase Agreement is a legally binding contract essential for buying or selling property in New Zealand. It establishes the terms, conditions, and timeline for the sale.
The agreement details the price, chattels, and key dates, along with any conditional clauses like securing finance or a satisfactory building report. Once all conditions are met, the agreement becomes unconditional. It is crucial for both buyers and sellers to get legal advice before signing this important document.
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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