# Purchase and Sale Agreement for New Zealand > Use this template to create a Purchase and Sale Agreement that complies with your chosen governing law **Document type:** Purchase and Sale Agreement **Category:** Agreements & Contracts **Jurisdiction:** New Zealand **Governing law:** United States **Last updated:** 2026-06-17 ## What is a Purchase and Sale Agreement? A Purchase and Sale Agreement spells out the key terms when you're buying or selling property in New Zealand. It's the main legal contract that covers everything from the sale price and deposit details to settlement dates and any special conditions both parties need to meet. Beyond just stating the price, these agreements protect both buyers and sellers under NZ property law by clearly laying out who's responsible for what. They cover important details like chattels included in the sale, LIM report requirements, and any repairs needed before settlement. Real estate agents typically use the standard REINZ agreement form, though lawyers often customize it for complex deals. ## When should you use a Purchase and Sale Agreement? You need a Purchase and Sale Agreement whenever you're buying or selling significant property in New Zealand - from homes and commercial buildings to large equipment or business assets. This agreement becomes essential as soon as you've agreed on a basic price and want to move forward with the transaction. Get this agreement in place before making any deposits or taking major steps toward the sale. It protects both parties by clearly documenting the deal terms, prevents misunderstandings about what's included, and creates a legally binding framework for the sale process. For property deals especially, having your lawyer review it before signing helps avoid costly problems later. ## What are the different types of Purchase and Sale Agreement? - **[Business Sale Contract](https://www.genieai.co/en-nz/template/business-sale-contract)**: Detailed agreement for selling entire businesses, covering assets, employees, and ongoing operations - **[Vehicle Sale Purchase Agreement](https://www.genieai.co/en-nz/template/vehicle-sale-purchase-agreement)**: Simplified version for motor vehicle transfers, including warranty and registration details - **[Conditional Purchase Agreement](https://www.genieai.co/en-nz/template/conditional-purchase-agreement)**: Includes specific conditions that must be met before sale completion, like finance approval or inspections - **[Bill Of Sale Purchase Agreement](https://www.genieai.co/en-nz/template/bill-of-sale-purchase-agreement)**: Basic version for straightforward personal property sales - **[Purchase And Sale Agreement Wholesaling](https://www.genieai.co/en-nz/template/purchase-and-sale-agreement-wholesaling)**: Specialized format for bulk purchases and business-to-business transactions ## Who should typically use a Purchase and Sale Agreement? - **Property Owners/Sellers**: Set the terms of sale, disclose property conditions, and specify what's included in the deal - **Buyers**: Review and negotiate terms, arrange finance, and commit to purchase conditions - **Real Estate Agents**: Facilitate negotiations, prepare initial agreements using REINZ standard forms, and coordinate between parties - **Lawyers**: Review agreements, advise clients on terms, handle title searches, and manage settlement processes - **Banks/Lenders**: Review agreements as part of mortgage approval, ensure security interests are protected - **Property Inspectors**: Conduct required inspections and provide reports referenced in conditional agreements ## How do you write a Purchase and Sale Agreement? - **Property Details**: Gather exact address, title references, and current ownership information - **Price Structure**: Document the agreed purchase price, deposit amount, and payment terms - **Chattels List**: Create detailed inventory of all items included/excluded from the sale - **Key Dates**: Set settlement date, finance condition date, and inspection deadlines - **Special Conditions**: Note any specific requirements like LIM reports or building inspections - **Party Information**: Collect full legal names, addresses, and contact details for all parties - **Documentation**: Use our platform to generate a legally-sound agreement that includes all required elements ## What should be included in a Purchase and Sale Agreement? - **Party Details**: Full legal names and addresses of buyers, sellers, and any guarantors - **Property Description**: Legal title reference, physical address, and boundary details - **Price and Terms**: Purchase price, deposit amount, payment schedule, and GST status - **Settlement Provisions**: Date, time, and location for completion of the sale - **Property Inclusions**: Detailed list of chattels and fixtures included in sale - **Conditions**: Finance, building inspection, and LIM report requirements - **Default Clauses**: Consequences and remedies if either party breaches terms - **Execution Block**: Signature spaces with witness requirements per NZ law ## What's the difference between a Purchase and Sale Agreement and an Asset Purchase Agreement? People often confuse a Purchase and Sale Agreement with an [Asset Purchase Agreement](https://www.genieai.co/en-nz/template-type/asset-purchase-agreement). While both deal with property transfers, they serve distinct purposes in New Zealand law. - **Scope of Transfer**: Purchase and Sale Agreements typically cover complete property transactions, including land and buildings. Asset Purchase Agreements focus on specific business assets, excluding real estate - **Due Diligence Requirements**: Purchase and Sale Agreements emphasize property-specific checks like LIM reports and title searches. Asset Purchase Agreements focus on asset valuation, warranties, and business continuity - **Legal Framework**: Purchase and Sale Agreements align with NZ property law and REINZ standards. Asset Purchase Agreements follow commercial law and often require additional documentation for business transfers - **Risk Allocation**: Purchase and Sale Agreements address property-specific risks like title defects. Asset Purchase Agreements handle business-related risks like employee transfers and intellectual property rights ## Templates in this category - [Agency Agreement For Sale Of Residential Property](https://www.genieai.co/en-nz/template/agency-agreement-for-sale-of-residential-property) - [Agreement Of Purchase And Sale Form For Private Sale](https://www.genieai.co/en-nz/template/agreement-of-purchase-and-sale-form-for-private-sale) - [Agreement To Sell Personal Property](https://www.genieai.co/en-nz/template/agreement-to-sell-personal-property) - [Apartment Sale And Purchase Contract](https://www.genieai.co/en-nz/template/apartment-sale-and-purchase-contract) - [Boat Purchase And Sale Agreement](https://www.genieai.co/en-nz/template/boat-purchase-and-sale-agreement) - [Buy Sell Agreement Cross Purchase](https://www.genieai.co/en-nz/template/buy-sell-agreement-cross-purchase) - [Buy Sell Agreement Form](https://www.genieai.co/en-nz/template/buy-sell-agreement-form) - [Confidentiality Agreement For Sale Of Business](https://www.genieai.co/en-nz/template/confidentiality-agreement-for-sale-of-business) - [Contract For Sale Of Business Assets](https://www.genieai.co/en-nz/template/contract-for-sale-of-business-assets) - [House Buying Agreement](https://www.genieai.co/en-nz/template/house-buying-agreement) - [House Purchase Agreement Form](https://www.genieai.co/en-nz/template/house-purchase-agreement-form) - [Letter Of Intent To Sell House](https://www.genieai.co/en-nz/template/letter-of-intent-to-sell-house) - [Letter Of Intent To Sell (Real Estate)](https://www.genieai.co/en-nz/template/letter-of-intent-to-sell-real-estate) - [Modular Home Purchase Agreement](https://www.genieai.co/en-nz/template/modular-home-purchase-agreement) - [Purchase Agreement For Camper](https://www.genieai.co/en-nz/template/purchase-agreement-for-camper) - [Purchase And Sale Agreement For Wholesalers](https://www.genieai.co/en-nz/template/purchase-and-sale-agreement-for-wholesalers) - [Real Estate Contract To Sell A House](https://www.genieai.co/en-nz/template/real-estate-contract-to-sell-a-house) - [Real Estate Simple Letter Of Intent To Sell Property](https://www.genieai.co/en-nz/template/real-estate-simple-letter-of-intent-to-sell-property) - [Sale Contract Agreement](https://www.genieai.co/en-nz/template/sale-contract-agreement) - [Simple Land Contract Purchase Agreement](https://www.genieai.co/en-nz/template/simple-land-contract-purchase-agreement) - [Standard House Purchase Contract](https://www.genieai.co/en-nz/template/standard-house-purchase-contract) - [Stock Sale And Purchase Agreement](https://www.genieai.co/en-nz/template/stock-sale-and-purchase-agreement) - [Term Sheet For Sale Of Business](https://www.genieai.co/en-nz/template/term-sheet-for-sale-of-business) - [Vacant Land Purchase Contract](https://www.genieai.co/en-nz/template/vacant-land-purchase-contract) --- This is the Markdown representation of [https://www.genieai.co/en-nz/template-type/purchase-and-sale-agreement](https://www.genieai.co/en-nz/template-type/purchase-and-sale-agreement), provided for AI agents and crawlers. The HTML page is canonical. See [/llms.txt](https://www.genieai.co/llms.txt) for the full content map.