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 any NZ property transaction, making it essential to get legal advice before signing.
The agreement outlines all terms, including the price, deposit, chattels, and key timelines like the unconditional date and settlement date.
Agreements can be conditional, subject to finance or a building report. Once conditions are met, the sale becomes unconditional and legally locked in. Failing to meet your obligations can have serious financial penalties.
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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