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House Purchase Agreement Form

House Purchase Agreement Form Template for New Zealand

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Key Requirements PROMPT example:

House Purchase Agreement Form

"I need a standard House Purchase Agreement Form for a residential property in Auckland, New Zealand, with settlement scheduled for March 15, 2025, including standard conditions for finance and building inspection, but no special conditions or tenancies to consider."

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Document background
The House Purchase Agreement Form is the standard document used in New Zealand for residential property transactions. It is designed to comply with New Zealand property law and provides a comprehensive framework for property sales. This document is essential when any residential property is being sold or purchased, whether it's a standalone house, apartment, or unit title property. The agreement includes crucial details about the property, parties involved, purchase price, settlement terms, and conditions that must be met before the sale becomes unconditional. It incorporates provisions required by New Zealand legislation, including the Property Law Act 2007, Real Estate Agents Act 2008, and Land Transfer Act 2017. The document is typically prepared using the approved Real Estate Institute of New Zealand (REINZ) and Auckland District Law Society (ADLS) form, ensuring standardization and legal compliance across all residential property transactions in New Zealand.
Suggested Sections

1. Parties: Identification of the vendor(s) and purchaser(s) including full legal names and addresses

2. Background: Context of the transaction and brief property overview

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpretation

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

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

6. Settlement and Possession: Settlement date, time, and conditions for possession

7. Title and Transfer: Provisions regarding transfer of title and requirements for clear title

8. Conditions: Standard conditions including finance, building inspection, and LIM report requirements

9. Warranties and Undertakings: Vendor's warranties about the property and undertakings until settlement

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

11. Default: Consequences of default by either party and available remedies

12. General Provisions: Standard contract clauses including notices, entire agreement, and governing law

Optional Sections

1. Chattels: Detailed section for when specific chattels are included in the sale

2. Tenancies: Required when the property is sold with existing tenants

3. GST: Required when either party is GST registered and the transaction has GST implications

4. Overseas Investment Act Compliance: Required when purchaser is an overseas person under the OIA

5. Building Warranty: For newly constructed properties or recent renovations

6. Unit Title Provisions: Required for unit title properties under the Unit Titles Act

7. Development or Subdivision Provisions: Required when property is part of an ongoing development or subdivision

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of land, improvements, and title information

2. Schedule 2 - Chattels List: Comprehensive list of chattels included in the sale

3. Schedule 3 - Special Conditions: Any special conditions agreed between the parties

4. Appendix A - LIM Report: Land Information Memorandum report from the local council

5. Appendix B - Title Documents: Copy of certificate of title and relevant encumbrances

6. Appendix C - Building Report: Building inspection report if obtained

7. Appendix D - Property Plans: Floor plans, site plans, and survey plans where relevant

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

alex.den.21@genieai.co
Relevant legal definitions




































Clauses






























Relevant Industries

Real Estate

Legal Services

Banking and Finance

Property Development

Construction

Insurance

Property Management

Professional Services

Relevant Teams

Legal

Real Estate Sales

Residential Property

Conveyancing

Compliance

Property Management

Settlements

Mortgage Processing

Title Processing

Customer Relations

Documentation

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Property Manager

Mortgage Broker

Bank Manager

Property Valuer

Building Inspector

Real Estate Partner

Legal Executive

Compliance Officer

Property Developer

Settlement Officer

Title Officer

Real Estate Branch 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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