The Home Selling Contract is a crucial legal document used in New Zealand residential property transactions. It is designed to facilitate the sale of residential properties while ensuring compliance with New Zealand property law and regulations. This contract is essential when transferring ownership of residential property, whether it's a standalone house, apartment, or unit title property. The document includes critical information such as property details, purchase price, settlement terms, conditions of sale, and warranties. It must comply with the Property Law Act 2007, Real Estate Agents Act 2008, and other relevant New Zealand legislation. The contract serves as the primary legal instrument protecting both sellers' and buyers' interests throughout the transaction process, from initial agreement to final settlement.
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1. Parties: Identification of the seller and purchaser with their full legal names and addresses
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Full legal description of the property including title details, boundaries, and land area
5. Purchase Price: Agreed purchase price and payment structure, including deposit details
6. Settlement: Settlement date, time, and process requirements
7. Title and Transfer: Requirements for clear title and transfer of ownership
8. Property Inspection: Buyer's rights to inspect the property and timing of inspections
9. Warranties and Undertakings: Seller's warranties about the property's condition and legal status
10. Conditions: Standard conditions that must be met before settlement
11. Risk and Insurance: Responsibility for the property and insurance requirements until settlement
12. Default: Consequences of default by either party
13. General Provisions: Standard legal provisions including notices, governing law, and dispute resolution
1. Chattels: List of moveable items included or excluded from the sale - used when specific items need to be detailed
2. Tenancies: Details of existing tenancies - required when the property is sold with tenants in place
3. Body Corporate: Body corporate details and obligations - required for apartments or units
4. GST: GST treatment of the sale - required when either party is GST registered
5. Building Warranty: Specific warranties for new builds or recently renovated properties
6. Overseas Investment: Additional provisions for overseas buyers - required when purchaser is not a New Zealand resident
7. Development Provisions: Special conditions for properties under development or with development potential
8. Maori Land Provisions: Special provisions required when the property involves Maori land
9. Resource Consent: Details of resource consents - required when property has specific planning requirements or restrictions
1. Schedule 1 - Property Details: Detailed description of the property including certificate of title, legal description, and area
2. Schedule 2 - Chattels List: Comprehensive list of all chattels included and excluded from the sale
3. Schedule 3 - Special Conditions: Any special conditions agreed between the parties
4. Schedule 4 - Property Disclosure: Seller's disclosure of property conditions, defects, or issues
5. Appendix A - Title Documents: Copy of certificate of title and relevant title documents
6. Appendix B - LIM Report: Land Information Memorandum report from the local council
7. Appendix C - Property Inspection Report: Building inspection report if obtained
8. Appendix D - Plans and Permits: Relevant building plans, permits, and consents
9. Appendix E - Body Corporate Rules: Body corporate rules and regulations if applicable
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