The Cash Sale House Contract is a specialized agreement used in New Zealand residential property transactions where the purchaser is buying without mortgage financing. This document is essential for straightforward property transfers, incorporating all requirements under New Zealand property law, including the Property Law Act 2007 and Land Transfer Act 2017. It provides a comprehensive framework for the sale process, including clear identification of parties, property details, payment terms, settlement conditions, and statutory warranties. The agreement is particularly suitable for cash buyers, property investors, and situations requiring quick settlement, while ensuring compliance with New Zealand's property transfer regulations and anti-money laundering requirements.
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1. Parties: Identification of the vendor and purchaser with full legal names and addresses
2. Background: Brief context of the transaction and purpose of the agreement
3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpretation
4. Property Details: Full legal description of the property including title references, area, and boundaries
5. Purchase Price: Specified purchase price and payment terms including deposit and settlement payment
6. Settlement and Possession: Settlement date, time, and conditions for possession transfer
7. Title and Registration: Requirements for clear title transfer and registration processes
8. Property Inspection: Purchaser's rights and timeframes for property inspection
9. Risk and Insurance: Assignment of risk and insurance requirements until settlement
10. Vendor's Warranties: Standard warranties about the property's condition and compliance
11. Default: Consequences and remedies for breach by either party
12. General Terms: Standard contract terms including notices, time of essence, and governing law
13. Execution: Signing requirements and execution blocks
1. Chattels: List of moveable items included in the sale, used when specific chattels are being transferred
2. Tenancy Provisions: Required when the property is sold with existing tenants or tenancy agreements
3. GST: GST provisions required when either party is GST registered or the transaction is subject to GST
4. Body Corporate: Specific provisions for unit titles or apartments under body corporate management
5. Building Report Condition: Used when the purchase is conditional on a satisfactory building report
6. Land Act/OIA Consent: Required for transactions involving overseas buyers or Land Act consent requirements
7. Remediation Works: Used when specific property repairs or improvements are agreed as part of the sale
8. Development Provisions: Required when the property has ongoing or planned development works
1. Schedule 1 - Property Details: Detailed property information including certificate of title, legal description, and area
2. Schedule 2 - Chattels List: Comprehensive list of all chattels included in the sale
3. Schedule 3 - Warranties: Detailed vendor warranties about the property
4. Appendix A - Title Documents: Copy of certificate of title and relevant encumbrances
5. Appendix B - LIM Report: Land Information Memorandum report from the local council
6. Appendix C - Property Plans: Floor plans, site plans, and boundary details
7. Appendix D - Compliance Documents: Building consents, code compliance certificates, and other relevant permits
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Legal Services
Financial Services
Construction
Property Management
Professional Services
Residential Property
Relevant Teams
Legal
Real Estate Sales
Property Management
Compliance
Settlement
Due Diligence
Property Investment
Conveyancing
Documentation
Risk Management
Relevant Roles
Real Estate Agent
Property Lawyer
Conveyancing Specialist
Property Manager
Settlement Officer
Legal Executive
Compliance Officer
Property Developer
Real Estate Transaction Coordinator
Title Officer
Property Investment Advisor
Due Diligence Specialist
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