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 the legally binding contract for buying or selling a property in New Zealand. It details the price, deposit, chattels, and key dates.
Agreements can be conditional, depending on factors like securing finance or a satisfactory building report. Once all conditions are met by the unconditional date, the deal is locked in. The sale is finalised on the settlement date.
Failing to meet conditions can have serious financial consequences. It is crucial to get legal advice before signing.
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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