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 is crucial for both buyers and sellers to seek professional legal advice before signing.
The agreement outlines the price, deposit, chattels, and key timelines, including the unconditional date and settlement date. An agreement can be conditional, allowing time for finance or building reports. Once conditions are met, it becomes unconditional, legally committing both parties. Failing to meet obligations can have serious financial consequences.
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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