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New Home Sales Contract

New Home Sales Contract Template for New Zealand

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Key Requirements PROMPT example:

New Home Sales Contract

"I need a New Home Sales Contract for a luxury residential property development in Auckland, New Zealand, with construction scheduled to commence in March 2025, including specific clauses for high-end fixtures and fittings, and a staged payment schedule."

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Document background
The New Home Sales Contract is a crucial legal document used in New Zealand's residential construction and property development sector. It is specifically designed for transactions involving newly constructed homes, whether they are yet to be built, under construction, or recently completed. This contract type combines elements of both property sale and construction agreements, ensuring compliance with New Zealand's building regulations, consumer protection laws, and property transfer requirements. It is essential for property developers, construction companies, and individuals engaging in new home purchases, providing comprehensive coverage of construction specifications, payment schedules, warranties, and completion requirements. The document must align with multiple New Zealand statutes including the Building Act 2004, Property Law Act 2007, and Consumer Guarantees Act 1993, while also incorporating industry best practices for residential construction and sales.
Suggested Sections

1. Parties: Identification of the vendor/builder and purchaser with full legal names and addresses

2. Background: Context of the agreement, including property details and purpose of the transaction

3. Definitions: Defined terms used throughout the agreement, including technical construction terms

4. Property Details: Legal description of the land and proposed house, including title details and address

5. Purchase Price: Total price, deposit requirements, and payment schedule

6. Construction Specifications: Overview of construction requirements, standards, and materials

7. Construction Timeline: Expected start and completion dates, stages of construction, and milestone payments

8. Settlement and Possession: Conditions for settlement, key handover, and possession arrangements

9. Title and Ownership: Requirements for clear title and transfer of ownership

10. Warranties and Guarantees: Building warranties, guarantees, and defects liability period

11. Insurance: Required insurance during construction and at completion

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

13. Dispute Resolution: Process for handling disputes between parties

14. General Provisions: Standard contract clauses including notices, amendments, and governing law

Optional Sections

1. Finance Condition: Include when purchaser requires finance approval

2. Land Subdivision: Required if the land is yet to be subdivided

3. Resource Consent: Include when building consent or resource consent is still pending

4. Sunset Clause: Time limit for meeting conditions or completion, used when there are significant uncertainties

5. Progressive Payments: Alternative payment structure for staged payments during construction

6. Variations: Process for handling changes to specifications or scope during construction

7. Body Corporate: Include for properties within a unit title development

8. Rental Guarantee: Optional investment protection for investment properties

9. Maintenance Period: Extended maintenance obligations beyond standard warranties

Suggested Schedules

1. Schedule 1: Plans and Specifications: Detailed architectural plans, engineering drawings, and building specifications

2. Schedule 2: Inclusions and Exclusions: Detailed list of included fixtures, fittings, and exclusions

3. Schedule 3: Payment Schedule: Breakdown of payment stages and amounts

4. Schedule 4: Construction Timeline: Detailed construction program with specific milestones

5. Schedule 5: Warranties: Full warranty terms and conditions

6. Schedule 6: Materials and Finishes: Detailed specifications of all materials and finishes

7. Appendix A: Land Information Memorandum: Council property information and restrictions

8. Appendix B: Title Documents: Current title and any relevant easements or covenants

9. Appendix C: Building Consent: Copies of building consent documentation

10. Appendix D: Insurance Certificates: Copies of required insurance policies

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

Residential Construction

Real Estate

Property Development

Legal Services

Construction Materials

Architecture and Design

Banking and Finance

Building Inspection and Certification

Insurance

Relevant Teams

Legal

Real Estate Sales

Property Development

Construction Management

Contract Administration

Compliance

Risk Management

Project Management

Quality Assurance

Customer Relations

Relevant Roles

Property Developer

Construction Manager

Project Manager

Real Estate Agent

Property Lawyer

Conveyancer

Building Inspector

Sales Manager

Contract Administrator

Development Manager

Legal Counsel

Quantity Surveyor

Site Manager

Compliance Officer

Risk 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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