If you have not paid the down payment until the agreed time, the seller`s lawyer can inform you that you must pay three business days. If you do not pay the down payment during this period, the seller can terminate the contract at any time by promising to terminate it. However, if you pay the down payment before notification, the contract will not be terminated, even if you sent the notification. Before signing a purchase and sale agreement, the agent must provide you with a copy of the REA New Zealand Residential Property Sale and Purchase Agreement. You should also ask yourself to confirm in writing that you have received it. The purchase and sale agreement contains obligations and general terms and conditions that you must comply with. These include: time for execution: the date of the financial condition must be indicated on the first page of the agreement. If you are a first-time home buyer and would like to use kiwiSaver to apply for a KiwiSaver HomeStart grant, we recommend a funding condition of at least 15 to 20 business days. The agreement must be carefully crafted It is important that the buyer and seller will argue that the ADLS- REINZ agreement is a model and it can and should be concluded in order to adapt your specific circumstances. Before you make one of the biggest purchases of your life, make sure we discuss the terms before signing the contract.
A conditional agreement means that the sales contract has one or more conditions that must be met on a specified date. The agent will help you, as well as the seller, to include the conditions you both want. Even if the broker works for the seller, they must also be honest and honest with the buyer. You cannot withhold information and you must inquire about known defects in the property. All information published on this website or in an article in it is, in good conscience, true and correct. The information on this site should not replace legal advice. Nz LAW Limited or companies affiliated with NZ LAW assume no responsibility for losses incurred by an individual or organization that relies directly or indirectly on the information published on this site. The opinions expressed in each article are the opinions of individual authors and do not necessarily reflect the views of NZ LAW or its member societies.