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Pre Sale Agreement Property for New Zealand

Pre Sale Agreement Property Template for New Zealand

A Pre-Sale Agreement for Property is a legally binding document used in New Zealand real estate transactions to establish the terms and conditions for the future sale of a property. The agreement, governed by New Zealand property law, particularly the Property Law Act 2007 and the Contract and Commercial Law Act 2017, outlines the rights and obligations of both the vendor and purchaser prior to the final sale. It includes essential details such as property description, purchase price, deposit requirements, conditions precedent, settlement terms, and warranties, while ensuring compliance with New Zealand's property transfer regulations and consumer protection laws.

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Pre Sale Agreement Property

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What is a Pre Sale Agreement Property?

The Pre-Sale Agreement Property serves as a crucial legal instrument in New Zealand's real estate market, typically used when parties wish to secure a property transaction before final settlement. This agreement is particularly relevant for off-plan purchases, new developments, or when parties need to satisfy specific conditions before proceeding with the final sale. The document complies with New Zealand's property law framework, including the Property Law Act 2007 and related legislation, and contains comprehensive provisions covering property details, payment terms, conditions precedent, warranties, and settlement procedures. It provides security for both vendors and purchasers by clearly defining their rights and obligations, while allowing flexibility for specific conditions to be met before the sale becomes unconditional.

What sections should be included in a Pre Sale Agreement Property?

1. Parties: Identification and details of the vendor and purchaser

2. Background: Context of the agreement and general purpose of the pre-sale arrangement

3. Definitions and Interpretation: Definitions of key terms and rules for interpreting the agreement

4. Property Details: Full legal description of the property including title details and physical address

5. Purchase Price: Agreed purchase price and payment structure including deposit requirements

6. Deposit: Terms for payment, holding, and potential forfeiture of the deposit

7. Conditions Precedent: Conditions that must be satisfied before the agreement becomes unconditional

8. Settlement: Settlement date, process, and requirements for completion

9. Title and Transfer: Provisions relating to transfer of title and associated requirements

10. Vendor's Warranties: Warranties given by the vendor regarding the property

11. Purchaser's Warranties: Warranties given by the purchaser regarding their ability to complete

12. Risk and Insurance: Allocation of risk and insurance requirements until settlement

13. Default: Consequences and remedies in case of default by either party

14. Notices: Process for giving notices under the agreement

15. General Provisions: Standard contract clauses including governing law, entire agreement, etc.

What sections are optional to include in a Pre Sale Agreement Property?

1. GST Provisions: Required when either party is GST registered or the property is part of a taxable activity

2. Development Obligations: Used when the property is being sold off-plan or requires development work before settlement

3. Sunset Clause: Included when there's a need to specify a final date by which the agreement must become unconditional

4. Body Corporate: Required for unit title properties, covering body corporate rules and obligations

5. Tenant Provisions: Included when the property is sold with existing tenancies

6. Resource Consent Conditions: Required when the property requires specific resource consents or has existing consent conditions

7. Construction Warranties: Used for new builds or properties under construction

8. Overseas Investment Conditions: Required when the purchaser is an overseas person requiring OIO consent

What schedules should be included in a Pre Sale Agreement Property?

1. Schedule 1: Property Details: Detailed description of the property including boundaries, improvements, and chattels

2. Schedule 2: Payment Schedule: Detailed breakdown of payment terms including deposit and settlement payments

3. Schedule 3: Warranties: Comprehensive list of vendor warranties about the property

4. Schedule 4: Required Consents: List of consents and approvals required before settlement

5. Schedule 5: Disclosed Matters: List of matters disclosed by the vendor about the property

6. Appendix A: Property Plans: Plans, drawings or specifications of the property

7. Appendix B: Title Documents: Copy of title and relevant registered documents

8. Appendix C: LIM Report: Land Information Memorandum report (if available)

9. Appendix D: Construction Documents: Building plans and specifications (for new builds or properties under construction)

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

New Zealand

Cost

Free to use
Relevant legal definitions





































Clauses



































Relevant Industries

Real Estate

Property Development

Construction

Legal Services

Banking and Finance

Property Investment

Retail (for commercial properties)

Hospitality (for commercial properties)

Agricultural (for rural properties)

Industrial (for industrial properties)

Relevant Teams

Legal

Real Estate Sales

Property Management

Business Development

Compliance

Risk Management

Commercial

Operations

Finance

Settlements

Document Control

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Property Developer

Property Manager

Sales Manager

Legal Counsel

Contract Manager

Commercial Director

Property Investment Manager

Development Manager

Compliance Officer

Real Estate Branch Manager

Settlement Officer

Property Consultant

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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