Conditional Sale And Purchase Agreement for New Zealand

Conditional Sale And Purchase Agreement Template for New Zealand

A Conditional Sale and Purchase Agreement under New Zealand law is a legally binding document that outlines the terms and conditions for the transfer of property ownership from a vendor to a purchaser. The agreement is 'conditional' because it includes specific conditions that must be satisfied before the sale becomes unconditional and proceeds to settlement. These conditions typically include matters such as finance approval, satisfactory building inspection, or due diligence requirements. The document is governed by New Zealand property law, including the Property Law Act 2007 and the Contract and Commercial Law Act 2017, and typically follows the standard form developed by the Auckland District Law Society while allowing for customization to meet specific transaction requirements.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Conditional Sale And Purchase Agreement

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Conditional Sale And Purchase Agreement?

The Conditional Sale And Purchase Agreement is a fundamental legal document used in New Zealand property transactions where certain conditions must be met before the sale becomes binding. It is commonly used in both residential and commercial property sales where parties need to satisfy specific requirements, such as obtaining finance, completing due diligence, or receiving satisfactory building reports. The agreement provides protection for both vendors and purchasers by clearly stating all conditions that must be met, timeframes for satisfaction of conditions, and consequences if conditions are not met. It follows New Zealand legal requirements and typically incorporates standard clauses from the Auckland District Law Society form while allowing for customization based on specific transaction needs. This document is essential when parties wish to commit to a property transaction while maintaining certain safeguards through conditions precedent to settlement.

What sections should be included in a Conditional Sale And Purchase Agreement?

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

2. Background: Context of the transaction and property being sold

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

4. Property Description: Detailed legal description of the property including title references

5. Purchase Price: Agreed purchase price, deposit amount, and payment terms

6. Conditions: Specific conditions that must be satisfied before the agreement becomes unconditional

7. Due Diligence: Purchaser's rights and obligations regarding property investigation

8. Settlement and Possession: Settlement date, possession arrangements, and key deadlines

9. Title and Transfer: Requirements for title transfer and associated obligations

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

11. Vendor's Warranties: Standard warranties about the property's condition and title

12. Default: Consequences of default by either party

13. General Terms: Standard contract terms including notices, time of essence, etc.

14. Execution: Signing provisions and dating of agreement

What sections are optional to include in a Conditional Sale And Purchase Agreement?

1. Chattels: Detailed listing of moveable items included in the sale, used when specific items are being included

2. GST: GST treatment of the transaction, required when either party is GST registered

3. Tenancies: Details of existing tenancies, required when property is sold with tenants in possession

4. Body Corporate: Body corporate details and obligations, required for unit title properties

5. Land Covenants: Special land covenants or restrictions, included when property has specific restrictions

6. Finance Condition: Specific terms regarding purchaser's finance arrangements, used when purchase is subject to finance

7. Building Report Condition: Terms regarding building inspection, used when purchase is subject to satisfactory building report

8. Overseas Investment Condition: Required when purchaser needs Overseas Investment Office consent

What schedules should be included in a Conditional Sale And Purchase Agreement?

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

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

3. Schedule 3 - Conditions Precedent: Detailed description of all conditions that must be satisfied

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

5. Appendix A - Title Documents: Copy of title and relevant registered documents

6. Appendix B - LIM Report: Land Information Memorandum report if available

7. Appendix C - Property Plans: Floor plans, site plans, and other relevant property plans

8. Appendix D - Tenancy Documents: Copies of tenancy agreements if property sold tenanted

Authors

Alex Denne

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

Jurisdiction

New Zealand

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Investment

Residential Property

Commercial Property

Agricultural Property

Retail Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Commercial

Business Development

Risk Management

Operations

Settlements

Contract Administration

Relevant Roles

Property Lawyer

Real Estate Agent

Property Manager

Commercial Property Manager

Legal Counsel

Conveyancing Lawyer

Property Developer

Investment Manager

Business Development Manager

Contract Manager

Legal Executive

Settlement Officer

Property Consultant

Real Estate Branch Manager

Compliance Officer

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

Find the exact document you need

Standard Agreement For The Sale Of (Real Estate)

A standardized New Zealand legal agreement for real estate property sales, setting out terms, conditions, and obligations for both vendor and purchaser.

find out more

Formal Sales And Purchase Agreement

A legally binding agreement under New Zealand law that documents the terms and conditions for the sale and purchase of property.

find out more

Condominium Sale And Purchase Agreement

A New Zealand-compliant legal agreement for the sale and purchase of a unit title property (condominium), setting out terms, conditions, and obligations of the transaction.

find out more

Purchase Price Agreement

A New Zealand-compliant agreement detailing purchase price terms, conditions, and completion requirements for commercial transactions.

find out more

Agreement For Sale Of Flat

A New Zealand legal agreement for the sale and purchase of a flat/apartment unit, including terms, conditions, and unit title provisions.

find out more

Simple Business Sale Agreement

A New Zealand-governed agreement for the sale and purchase of a business, outlining key terms and conditions for ownership transfer.

find out more

Purchase And Sale Agreement For Wholesalers

A New Zealand-governed agreement establishing terms and conditions for wholesale trading relationships between suppliers and buyers.

find out more

Private Sale Home Purchase Agreement

A New Zealand-compliant legal agreement for direct property sales between private parties, outlining terms and conditions for residential property transfer.

find out more

Generic Car Sales Agreement

A New Zealand-compliant agreement template for the sale and purchase of motor vehicles, suitable for both private and commercial transactions.

find out more

Flat Buying Agreement

A New Zealand-compliant legal agreement for the purchase and sale of a flat or apartment unit, including all essential terms and conditions under NZ property law.

find out more

Conditional Sale And Purchase Agreement

A New Zealand legal agreement for property sale and purchase that includes specific conditions which must be met before the sale becomes unconditional.

find out more

Purchase And Resale Agreement

A New Zealand-governed agreement establishing terms for purchasing goods with resale rights, including pricing, delivery, and quality specifications.

find out more

Business Purchase Confidentiality Agreement

A New Zealand law-governed confidentiality agreement protecting sensitive information during business purchase negotiations and due diligence.

find out more

Simple Commercial Real Estate Purchase Agreement

A New Zealand-compliant agreement for the purchase and sale of commercial real estate, incorporating essential terms and conditions under NZ law.

find out more

Buy Sell Agreement For Land

A legally binding agreement for the sale and purchase of real property in New Zealand, compliant with local property law requirements.

find out more

Unit Sale Agreement

A New Zealand-compliant agreement for the sale and purchase of unit title properties, incorporating mandatory Unit Titles Act requirements and body corporate provisions.

find out more

Equity Sale Agreement

New Zealand-governed agreement for the sale and purchase of company shares, detailing transaction terms and compliance with local corporate law.

find out more

Commercial Sale Contract

A New Zealand-governed agreement establishing terms for commercial sale of goods between businesses, aligned with local commercial law requirements.

find out more

Agency Agreement For Sale Of Residential Property

A New Zealand-compliant agreement authorizing a real estate agent to market and sell residential property on behalf of the property owner.

find out more

Purchase Agreement For Camper

A New Zealand-compliant agreement for the sale and purchase of a camper vehicle, including terms, conditions, and regulatory requirements.

find out more

Bike Sale Purchase Agreement

A New Zealand-compliant agreement documenting the sale and purchase of a bicycle, including terms of sale, specifications, and warranty details.

find out more

Unconditional Sale And Purchase Agreement

A binding New Zealand legal agreement for the unconditional sale and purchase of property, establishing definitive terms for property transfer without conditions.

find out more

Purchase Contract For Home

A New Zealand-compliant legal agreement for the sale and purchase of residential property, outlining all essential terms and conditions of the transaction.

find out more

Preliminary Sale And Purchase Agreement

A preliminary agreement under New Zealand law that sets out the initial terms and conditions for property sale and purchase transactions, serving as the basis for the final sale agreement.

find out more

Mortgage Sales Agreement

A New Zealand-compliant legal agreement governing the sale of a mortgaged property, detailing sale terms and mortgage arrangements under NZ law.

find out more

Offer Of Purchase And Sale

A New Zealand-compliant legal agreement that documents the terms and conditions of a property sale between vendor and purchaser, governed by NZ property law.

find out more

Assignment Of Real Estate Purchase And Sale Agreement

A New Zealand law-governed agreement transferring rights and obligations under an existing property purchase contract from original to new purchaser.

find out more

Assignment Of Purchase And Sale Agreement

A New Zealand law-governed document that transfers rights and obligations under an existing Purchase and Sale Agreement from an original purchaser to a new purchaser.

find out more

Trailer Purchase Agreement

A New Zealand-governed agreement for the sale and purchase of a trailer, detailing specifications, price, warranties, and transfer terms.

find out more

Domain Sale Agreement

A New Zealand-governed agreement for the sale and transfer of domain name ownership rights, outlining terms, conditions, and transfer process.

find out more

Contract For Sale Of Business Assets

A New Zealand-compliant agreement for the sale and purchase of business assets, detailing terms, conditions, and transfer requirements.

find out more

Motorcycle Selling Agreement

A New Zealand-compliant agreement for the sale and purchase of motorcycles, suitable for both private and commercial transactions.

find out more

Deed Of Purchase And Sale

A New Zealand law-governed deed that documents and effectuates the transfer of property ownership from seller to buyer, including all essential terms and conditions of the sale.

find out more

International Purchase Contract

A New Zealand law-governed contract for international purchase of goods, establishing terms for cross-border trade between buyer and seller.

find out more

Buy Sell Agreement Cross Purchase

A New Zealand-compliant agreement between shareholders establishing procedures for share transfers through a cross-purchase structure when specific trigger events occur.

find out more

Term Sheet For Sale Of Business

A preliminary agreement under New Zealand law outlining key terms and conditions for a proposed business sale transaction.

find out more

Vacant Land Purchase Agreement

A legally binding agreement under New Zealand law for the purchase and sale of vacant land, detailing all essential terms and conditions of the property transaction.

find out more

Simple Vacant Land Purchase Agreement

A New Zealand-compliant agreement for the purchase and sale of vacant land, setting out essential terms and conditions for property transfer.

find out more

Simple Asset Purchase Agreement

A New Zealand-compliant agreement for the straightforward purchase and sale of assets, outlining key terms, conditions, and obligations of the transaction.

find out more

Preliminary Agreement For Sale And Purchase

A binding preliminary agreement for property sale and purchase under New Zealand law, outlining key terms and conditions for the transaction.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now