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. It outlines all terms, including the price, deposit, chattels, and key dates for settlement and going unconditional.
Agreements are often conditional on factors like securing finance or a satisfactory building report. Once all conditions are met, the contract becomes unconditional, legally committing both the buyer and seller to the sale.
Because it's a binding document, getting professional legal advice before signing is essential to understand your obligations and avoid 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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