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A Sales and Purchase Agreement is the main legal contract used when buying or selling property in New Zealand. It spells out the exact terms of the deal, including the price, settlement date, and what's included in the sale - from chattels like dishwashers to any special conditions both parties need to meet.

Once signed, this binding agreement protects both buyers and sellers by clearly stating their rights and obligations. It follows standard forms approved by the Real Estate Institute of NZ and the Auckland District Law Society, though your lawyer can help customize it for specific needs. Most Kiwi property transactions rely on these agreements to ensure smooth, legally sound transfers of ownership.

Use a Sales and Purchase Agreement any time you're buying or selling property in New Zealand - from homes and apartments to commercial buildings and land. This agreement becomes essential right when you've agreed on a price and basic terms, but before any money changes hands or final paperwork is signed.

Many real estate agents will prepare a standard agreement, but bringing in your lawyer early helps protect your interests, especially with complex properties or unique conditions. Getting this agreement right at the start prevents costly disputes later and ensures both parties clearly understand their commitments, from deposit requirements through to settlement day.

• Commercial Purchase And Sale Agreement: Specialized for business property deals with detailed terms for tenancies, zoning, and commercial conditions
• Assignment Purchase Agreement: Used when transferring rights to purchase property from one buyer to another before settlement
• Vessel Purchase And Sale Agreement: Tailored for boat and marine vessel transactions with specific maritime requirements
• Real Estate Purchase Offer: Standard residential property agreement following REINZ and ADLS approved formats
• Sell Agreement: Simplified version for straightforward property sales without complex conditions

• Property Buyers and Sellers: The main parties who sign and are bound by the agreement's terms, including deposit payment, settlement dates, and property transfer obligations
• Real Estate Agents: Often prepare the initial agreement using standard forms, facilitate negotiations, and help explain key terms to their clients
• Property Lawyers: Review and modify agreements, advise clients on legal implications, and handle the settlement process
• Banks and Lenders: Review agreements when providing mortgages or finance, ensuring their security interests are protected
• Building Inspectors: May be referenced in conditions requiring their reports before the agreement becomes unconditional

• Property Details: Gather exact address, title references, and land area from council records or property files
• Price and Payment: Document the agreed purchase price, deposit amount, and payment schedule
• Chattels List: Create a detailed inventory of all items included in the sale like appliances, curtains, or fixed fittings
• Special Conditions: Note any finance, building inspection, or LIM report requirements
• Due Dates: Set clear timeframes for conditions, deposit payment, and final settlement
• Legal Compliance: Use our platform's NZ-compliant templates to ensure all mandatory elements are included correctly

• Party Details: Full legal names, addresses, and contact information for both buyer and seller
• Property Description: Legal title reference, physical address, and boundary details from Land Information NZ
• Price and Terms: Purchase amount, deposit requirements, and payment schedule in NZD
• Conditions: Finance, building inspection, or title search requirements with clear timeframes
• Settlement Details: Date, time, and location for final payment and property transfer
• Chattels List: Itemized fixtures and fittings included in the sale
• GST Status: Clear statement on GST treatment of the transaction
• Signature Block: Space for dated signatures of all parties and witnesses

People often confuse a Sales and Purchase Agreement with a Share Purchase Agreement, but they serve distinct purposes in New Zealand law. While both involve transferring ownership, their scope and requirements differ significantly.

• Object of Sale: A Sales and Purchase Agreement deals with physical property transfers (land, buildings, homes), while a Share Purchase Agreement handles company ownership through share transfers
• Legal Requirements: Property agreements must comply with the Property Law Act and Land Transfer Act, whereas share transfers follow Companies Act regulations
• Due Diligence Focus: Property agreements emphasize physical inspections, title searches, and LIM reports, while share purchases require company financial reviews and liability checks
• Settlement Process: Property deals involve physical possession and title transfers through LINZ, but share transfers happen through company registry updates and share certificate issuance