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Addendum To Real Estate Contract for New Zealand

Addendum To Real Estate Contract Template for New Zealand

A legal document governed by New Zealand law that modifies or supplements an existing real estate contract. This document is used to formalize changes to the original agreement, such as price adjustments, settlement date modifications, or alterations to conditions. It must comply with New Zealand's Property Law Act 2007 and related legislation, ensuring all modifications are legally binding and properly documented. The addendum becomes an integral part of the original contract once executed by all parties.

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What is a Addendum To Real Estate Contract?

The Addendum To Real Estate Contract is a crucial document in New Zealand's property transaction landscape, used when parties need to modify terms of an existing real estate agreement without drafting an entirely new contract. This document type is commonly utilized when circumstances change after the original contract signing, such as price negotiations, settlement date adjustments, or modification of conditions. It must comply with New Zealand's property law framework, including the Property Law Act 2007 and Real Estate Agents Act 2008. The addendum ensures all changes are properly documented, legally binding, and clearly understood by all parties, while maintaining the integrity of the original agreement's unchanged terms.

What sections should be included in a Addendum To Real Estate Contract?

1. Parties: Identification of all parties to the original contract and this addendum

2. Background: Reference to the original contract including date, property details, and reason for the addendum

3. Definitions: Key terms used in the addendum, including reference to definitions from original contract

4. Reference to Original Agreement: Specific clause confirming this document modifies the original contract

5. Modifications: Clear statement of each change being made to the original contract

6. Effect on Original Agreement: Statement that all other terms of the original contract remain in full force and effect

7. Execution: Signature blocks for all parties and witnesses

What sections are optional to include in a Addendum To Real Estate Contract?

1. Price Adjustment: Used when the addendum modifies the original purchase price

2. Settlement Date Changes: Used when modifying the settlement or possession date

3. Condition Modifications: Used when changing or adding conditions to the original agreement

4. Property Inclusions/Exclusions: Used when modifying what items are included or excluded from the sale

5. Due Diligence Extension: Used when extending or modifying due diligence periods

6. Finance Condition Changes: Used when modifying finance-related conditions

7. Building Report Modifications: Used when changing terms related to building inspection requirements

What schedules should be included in a Addendum To Real Estate Contract?

1. Schedule of Modifications: Detailed list of all changes being made to specific clauses in the original contract

2. Schedule of Revised Dates: Timeline of modified settlement, possession, or condition dates

3. Schedule of Price Adjustments: Detailed breakdown of any price changes and payment terms

4. Appendix A - Supporting Documents: Any relevant supporting documents referenced in the addendum

5. Appendix B - Modified Property Details: Used when changes affect the property description or boundaries

Authors

Alex Denne

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

Jurisdiction

New Zealand

Publisher

Ƶ

Document Type

Amendment Agreement

Cost

Free to use
Relevant legal definitions





























Clauses


























Relevant Industries

Real Estate

Legal Services

Property Development

Banking and Finance

Construction

Property Management

Professional Services

Residential Property

Commercial Property

Relevant Teams

Legal

Real Estate Sales

Compliance

Property Management

Contract Administration

Conveyancing

Risk Management

Client Services

Settlement

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Legal Executive

Property Manager

Contract Administrator

Real Estate Branch Manager

Settlement Officer

Property Consultant

Legal Counsel

Compliance Officer

Real Estate Sales Manager

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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