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Guaranteed Sale Agreement Template for New Zealand

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Key Requirements PROMPT example:

Guaranteed Sale Agreement

"I need a Guaranteed Sale Agreement for my residential property in Auckland, where the real estate agency will guarantee to purchase my property at 90% of the current market value if it doesn't sell within 90 days, with settlement required by March 2025."

Document background
The Guaranteed Sale Agreement is a specialized contract used in New Zealand real estate transactions where property owners seek certainty in their sale process. This document is particularly relevant when sellers require a guaranteed exit timeline, such as those coordinating multiple property transactions or relocating for employment. The agreement details the guaranteed purchase price, marketing period, property condition requirements, and obligations of both the seller and the guarantor (typically a real estate agency). It incorporates provisions compliant with New Zealand property law and real estate regulations, including the Property Law Act 2007 and Real Estate Agents Act 2008. The document is structured to protect both parties' interests while ensuring transparency in the guaranteed sale process, making it an important tool for risk management in property transactions.
Suggested Sections

1. Parties: Identifies the property owner (seller), the guarantor (usually the real estate agency), and any other relevant parties

2. Background: Explains the context of the agreement, including the seller's intention to sell and the guarantor's offer to provide a guaranteed sale arrangement

3. Definitions: Defines key terms used throughout the agreement

4. Appointment of Agent: Establishes the real estate agency's appointment as the seller's agent and guarantor

5. Marketing Period: Defines the initial period during which the property will be marketed for sale to third parties

6. Guaranteed Purchase Price: Specifies the guaranteed minimum price the guarantor will pay if the property doesn't sell during the marketing period

7. Marketing and Sale Process: Details the process for marketing the property and handling offers during the marketing period

8. Seller's Obligations: Outlines the seller's responsibilities including property maintenance and cooperation with marketing efforts

9. Guarantor's Obligations: Details the guarantor's responsibilities including marketing efforts and purchase commitment

10. Property Access: Establishes terms for property access for viewings and inspections

11. Settlement and Transfer: Specifies the process for either third-party sale or guaranteed purchase completion

12. Default and Remedies: Outlines consequences and remedies for breach of agreement terms

13. General Provisions: Contains standard contract clauses including governing law, notices, and dispute resolution

Optional Sections

1. Property Condition Requirements: Used when specific property condition standards must be maintained or improvements made during the marketing period

2. Early Termination Rights: Included when parties want to specify circumstances allowing early termination of the agreement

3. Marketing Cost Arrangements: Used when special arrangements exist regarding the payment or reimbursement of marketing costs

4. Commission Structure: Included when commission arrangements differ from standard agency terms

5. Third Party Sale Preferences: Used when specific types of buyers or terms are preferred for third-party sales

6. Vacant Possession Requirements: Included when the property is tenanted or specific vacancy requirements exist

7. Special Property Features: Used when the property has unique features requiring special attention or disclosure

Suggested Schedules

1. Schedule 1: Property Details: Comprehensive description of the property including title details, chattels, and known issues

2. Schedule 2: Guaranteed Price Calculation: Details of how the guaranteed purchase price was determined and any adjustment mechanisms

3. Schedule 3: Marketing Plan: Specific marketing activities, timeline, and budget

4. Schedule 4: Property Condition Report: Detailed assessment of property condition at agreement commencement

5. Schedule 5: Required Property Standards: Specific standards the property must meet for the guarantee to remain valid

6. Appendix A: Property Photos: Photographic record of property condition at agreement commencement

7. Appendix B: Title Documents: Copies of relevant title documents and encumbrances

8. Appendix C: Marketing Materials: Approved marketing materials and content

Authors

Alex Denne

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

Relevant legal definitions






























Clauses






























Relevant Industries

Real Estate

Property Development

Financial Services

Legal Services

Property Management

Professional Services

Construction

Relevant Teams

Legal

Real Estate Sales

Risk Management

Compliance

Property Management

Business Development

Operations

Contract Administration

Valuations

Marketing

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Specialist

Real Estate Branch Manager

Property Valuer

Business Development Manager

Risk Manager

Compliance Officer

Property Manager

Sales Director

Legal Counsel

Contract Administrator

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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