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 any NZ property transaction. It is critical for both buyers and sellers to get professional legal advice before signing.
The agreement outlines all terms, including the price, deposit, chattels, and key dates like the unconditional date and settlement date. It also lists any conditional clauses, such as securing finance or a building report, that must be met.
Once all conditions are satisfied, the deal becomes unconditional, legally committing both parties to 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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