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Private House Sale Contract

Private House Sale Contract Template for New Zealand

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Key Requirements PROMPT example:

Private House Sale Contract

"I need a Private House Sale Contract for a straightforward sale of my Auckland property, with settlement planned for March 2025, including standard conditions for finance and building inspection but excluding any real estate agent involvement."

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Document background
The Private House Sale Contract is a legally binding document used in New Zealand for direct property transactions between private parties without real estate agent intermediation. This document is essential when property owners wish to sell their residential property directly to buyers, potentially saving on agent commissions while maintaining legal compliance. The contract incorporates all requirements under New Zealand property law, including provisions from the Property Law Act 2007, Land Transfer Act 2017, and other relevant legislation. It covers crucial elements such as property description, purchase price, settlement terms, warranties, and conditions precedent, while also allowing for customization through special conditions and schedules. This document is particularly relevant in the current property market where private sales are increasingly common, and parties seek to maintain legal protection while managing their own property transactions.
Suggested Sections

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

2. Background: Context of the sale and brief description of the property

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

4. Agreement to Sell and Purchase: Core agreement stating the vendor's agreement to sell and purchaser's agreement to buy

5. Property Description: Detailed description of the property including legal description and certificate of title details

6. Purchase Price: Agreed purchase price and payment terms including deposit details

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

8. Title and Transfer: Provisions regarding transfer of title and requirements for registration

9. Vendor's Warranties: Standard warranties about the property's condition, title, and compliance

10. Purchaser's Warranties: Warranties regarding the purchaser's ability to complete the purchase

11. Conditions: Standard conditions precedent including finance, building inspection, and LIM report

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

13. Default: Consequences of default by either party

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

Optional Sections

1. Overseas Investment Condition: Required when purchaser is an overseas person requiring OIO consent

2. Tenancy Provisions: Required when property is sold with existing tenants

3. GST Provisions: Required when either party is GST registered or property is part of a taxable activity

4. Unit Title Provisions: Required for unit title properties including body corporate information

5. Building Warranty: Required for newly constructed properties or recent renovations

6. Chattels Lease: Required when certain chattels are subject to lease agreements

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

8. Water Rights: Required for rural properties with specific water rights or allocations

Suggested Schedules

1. Schedule 1 - Property Details: Comprehensive property details including certificate of title, legal description, and land area

2. Schedule 2 - Chattels: Detailed list of chattels included and excluded from the sale

3. Schedule 3 - Payment Schedule: Breakdown of payment terms including deposit and settlement payments

4. Schedule 4 - Special Conditions: Any special conditions agreed between the parties

5. Appendix A - Property Plan: Plans showing property boundaries and improvements

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

7. Appendix C - LIM Report: Land Information Memorandum report when obtained

8. Appendix D - Building Report: Building inspection report when obtained

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

Residential Property

Legal Services

Banking and Finance

Property Development

Construction

Insurance

Property Management

Professional Services

Conveyancing Services

Relevant Teams

Legal

Conveyancing

Property Services

Settlements

Compliance

Risk Management

Document Control

Client Services

Finance

Operations

Relevant Roles

Property Lawyer

Conveyancing Lawyer

Legal Executive

Property Manager

Bank Manager

Mortgage Broker

Property Valuer

Building Inspector

Insurance Broker

Title Searcher

Compliance Officer

Legal Secretary

Property Developer

Settlement Officer

Financial Advisor

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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