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 property in New Zealand, outlining all terms, conditions, and key dates. It is crucial for both parties to seek legal advice before signing.
The agreement includes details such as:
- The purchase price and deposit
- A list of included chattels
- Any conditional clauses (e.g., finance, building report)
- The unconditional and settlement dates
Once all conditions are met, the agreement becomes unconditional, legally committing both parties to completing the sale.
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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