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 house in New Zealand. It outlines all terms, conditions, and timelines, and it is critical to get legal advice before signing.
The agreement becomes unconditional once all conditions—such as finance or a building report—are met. Key details include:
- Purchase price and deposit
- Chattels included in the sale
- The settlement date
Failing to meet conditions can cancel the deal, but defaulting on an unconditional agreement carries 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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