Real Estate Offer Form for New Zealand

Real Estate Offer Form Template for New Zealand

A Real Estate Offer Form is a formal legal document used in New Zealand property transactions to initiate the purchase process. It contains all essential elements required under New Zealand property law, including details of the purchaser and vendor, property specifics, purchase price, conditions of sale, and settlement terms. The document serves as the foundation for the eventual sale and purchase agreement, incorporating necessary provisions for both residential and commercial property transactions while ensuring compliance with New Zealand's Property Law Act 2007 and related legislation.

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What is a Real Estate Offer Form?

The Real Estate Offer Form is a crucial document in New Zealand property transactions, used when a potential buyer wishes to make a formal offer to purchase a property. It forms the basis for negotiation and, when accepted, becomes a binding sale and purchase agreement. The document must comply with New Zealand property law requirements, including the Property Law Act 2007 and Real Estate Agents Act 2008. It includes essential information such as property details, purchase price, deposit arrangements, settlement date, and any conditions of sale. The form is designed to protect both buyers and sellers by clearly documenting all aspects of the proposed transaction, whether for residential or commercial properties. Real estate agents typically prepare the offer form, but it should be reviewed by legal professionals before signing.

What sections should be included in a Real Estate Offer Form?

1. Parties: Details of the potential purchaser(s) and property owner(s), including full legal names and contact information

2. Property Details: Complete legal description of the property, including certificate of title reference, street address, and land area

3. Purchase Price: The offered purchase price in numbers and words, including GST status if applicable

4. Deposit: The proposed deposit amount, payment timing, and holding arrangements

5. Settlement Date: Proposed date for completing the transaction and transferring ownership

6. Conditions: Standard conditions including finance, building inspection, LIM report, and title review

7. Chattels: List of items included and excluded in the sale

8. Tenancies: Details of any existing tenancies if the property is tenanted

9. GST Information: GST status of both parties and treatment of the transaction

10. Offer Expiry: Date and time when the offer expires if not accepted

What sections are optional to include in a Real Estate Offer Form?

1. Due Diligence Condition: Detailed investigation period and terms, used for commercial properties or complex residential purchases

2. Property Access: Special arrangements for pre-settlement access, used when early access is required

3. Vendor Works: Specific works to be completed by the vendor before settlement, used when property modifications are required

4. Body Corporate: Specific terms relating to body corporate matters, used for apartments or units

5. Development Provisions: Special conditions relating to property development, used when buyer intends to develop the property

6. Overseas Investment Condition: Additional terms for foreign buyers, used when purchaser requires OIO approval

7. Sale of Purchaser's Property: Conditions relating to the sale of purchaser's existing property, used when offer is conditional on another sale

What schedules should be included in a Real Estate Offer Form?

1. Schedule 1: Chattels List: Detailed inventory of all chattels included and excluded in the sale

2. Schedule 2: Property Inspection Report: Format and requirements for building inspection report if required

3. Schedule 3: Special Conditions: Detailed special conditions and their fulfillment requirements

4. Appendix A: Property Title: Copy of the current property title

5. Appendix B: LIM Report: Land Information Memorandum report requirements and timing

6. Appendix C: Tenancy Details: Copies of existing tenancy agreements and terms if applicable

7. Appendix D: Property Plans: Relevant property plans, boundaries, and easements

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 Industries

Real Estate

Residential Property

Commercial Property

Property Development

Banking and Finance

Legal Services

Property Management

Construction and Building Inspection

Property Valuation

Property Investment

Relevant Teams

Real Estate Sales

Legal and Compliance

Property Management

Conveyancing

Commercial Property

Residential Property

Contract Administration

Settlement Processing

Property Development

Risk Assessment

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Property Manager

Real Estate Branch Manager

Commercial Property Agent

Residential Sales Consultant

Property Valuer

Mortgage Broker

Legal Executive

Real Estate Sales Manager

Property Development Manager

Contract Administrator

Settlement Officer

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

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