The Simple For Sale By Owner Contract is designed for New Zealand property owners who choose to sell their property directly without engaging a real estate agent. This document has been developed to comply with New Zealand property law requirements while remaining accessible to non-professionals. It includes all essential elements required for a valid property sale agreement, including property details, purchase price, settlement terms, and necessary legal provisions. The contract is particularly useful in straightforward property transactions where both parties prefer to manage the sale process directly, potentially reducing transaction costs. It incorporates key requirements from the Property Law Act 2007 and other relevant New Zealand legislation while maintaining a clear, understandable format.
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1. Parties: Identification of the seller and buyer with full legal names and addresses
2. Background: Brief context of the transaction and property being sold
3. Definitions: Key terms used throughout the agreement
4. Property Details: Complete legal description of the property including title details and physical address
5. Purchase Price: Agreed purchase price and payment terms including deposit requirements
6. Settlement and Possession: Settlement date, possession arrangements, and key handover details
7. Title and Transfer: Conditions regarding title transfer and registration requirements
8. Property Condition: Current condition of the property and any warranties or disclaimers
9. Due Diligence: Buyer's inspection rights and timeline for conducting due diligence
10. Default: Consequences of default by either party and remedies available
11. General Terms: Standard contract terms including notices, amendments, and governing law
12. Execution: Signing provisions and date of agreement
1. Chattels: List of movable items included or excluded from the sale, used when specific items need to be detailed
2. Tenancy Details: Information about existing tenancies, used when property is sold with tenants in place
3. GST Provisions: GST treatment of the transaction, required when either party is GST registered
4. Finance Condition: Terms regarding buyer's finance arrangements, used when purchase is subject to financing
5. Building Report Condition: Terms regarding building inspection, used when sale is subject to satisfactory building report
6. Land Information Memorandum: Conditions relating to LIM report, used when sale is subject to satisfactory LIM
7. Overseas Investment Conditions: Additional requirements for foreign buyers, used when buyer is not a New Zealand resident
8. Resource Consent Conditions: Details of any resource consent requirements, used for properties with development potential or compliance issues
1. Schedule 1: Property Details: Detailed legal description of property, title references, and boundary information
2. Schedule 2: Included Chattels: Comprehensive list of all fixtures and fittings included in the sale
3. Schedule 3: Excluded Items: List of items specifically excluded from the sale
4. Schedule 4: Special Conditions: Any special terms or conditions agreed between the parties
5. Schedule 5: Warranty Schedule: Specific warranties provided by the seller regarding the property
6. Appendix A: Property Plans: Relevant property plans, survey documents, or floor plans
7. Appendix B: Property Photographs: Dated photographs documenting property condition at time of agreement
8. Appendix C: Compliance Documents: Copies of relevant compliance documents, permits, or certificates
Relevant legal definitions
Clauses
Property Description
Purchase Price
Payment Terms
Deposit
Due Diligence
Title Transfer
Settlement
Possession
Property Inspection
Warranties
Chattels
Risk and Insurance
Default
Dispute Resolution
GST
Land Information
Property Condition
Building Compliance
Resource Management
Title Search
Property Access
Settlement Completion
Notices
Assignment
Governing Law
Force Majeure
Entire Agreement
Severability
Amendments
Execution
Purchase Price
Payment Terms
Deposit
Due Diligence
Title Transfer
Settlement
Possession
Property Inspection
Warranties
Chattels
Risk and Insurance
Default
Dispute Resolution
GST
Land Information
Property Condition
Building Compliance
Resource Management
Title Search
Property Access
Settlement Completion
Notices
Assignment
Governing Law
Force Majeure
Entire Agreement
Severability
Amendments
Execution
Relevant Industries
Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Property Investment
Residential Housing
Commercial Property
Relevant Teams
Legal
Compliance
Property Management
Real Estate
Conveyancing
Finance
Risk Management
Operations
Investment
Relevant Roles
Property Owner
Home Buyer
Conveyancing Lawyer
Property Lawyer
Bank Manager
Mortgage Broker
Property Developer
Investment Manager
Legal Counsel
Compliance Officer
Property Manager
Real Estate Investor
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