The Simple Real Estate Sales Contract is a fundamental legal document used in New Zealand for facilitating property transactions between vendors and purchasers. This contract type is specifically designed to comply with New Zealand property law requirements while maintaining accessibility for both private and commercial transactions. It incorporates essential elements required by the Property Law Act 2007, Real Estate Agents Act 2008, and other relevant legislation, making it suitable for standard property sales. The document is commonly used for straightforward property transactions where parties seek a clear, comprehensive agreement that covers all necessary aspects of the sale without the complexity often found in more specialized property contracts. It includes provisions for property transfer, settlement procedures, warranties, and other standard terms while allowing for customization through optional clauses and schedules as needed for specific transactions.
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1. Parties: Identification of the vendor and purchaser with full legal names and addresses
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty
4. Property Details: Full legal description of the property including title references and physical address
5. Purchase Price: Agreed purchase price, deposit amount, and payment terms
6. Settlement: Settlement date, time, and process requirements
7. Title and Transfer: Conditions regarding transfer of title and requirements for registration
8. Property Inspection: Rights and process for property inspection before settlement
9. Warranties and Undertakings: Standard warranties from both parties regarding the property and transaction
10. Default: Consequences and remedies in case of default by either party
11. General Terms: Standard contract terms including notices, amendments, and governing law
12. Execution: Signing provisions and dated execution blocks for all parties
1. Chattels: Detailed list of moveable items included in the sale, used when specific items are being included
2. Tenancies: Details of existing tenancies, required when the property is sold with tenants in place
3. GST Provisions: GST-specific terms, required when either party is GST-registered or the transaction is GST-applicable
4. Building Report Condition: Terms regarding building inspection rights, used when purchaser requires a building inspection
5. Finance Condition: Terms regarding purchaser's finance arrangements, used when purchase is subject to financing
6. Due Diligence: Terms for comprehensive property investigation, used in complex transactions
7. Overseas Investment Consent: Required when purchaser needs Overseas Investment Office approval
8. Unit Title Provisions: Special provisions required for unit title properties
9. Development Provisions: Used when property is under development or subject to future development
1. Schedule 1: Property Details: Detailed property description, including certificate of title, legal description, and area
2. Schedule 2: Chattels List: Comprehensive list of all chattels included in the sale
3. Schedule 3: Special Conditions: Any special conditions agreed between the parties
4. Schedule 4: Warranties: Detailed warranties given by the vendor regarding the property
5. Appendix A: LIM Report: Land Information Memorandum report from the local council
6. Appendix B: Title Documents: Copy of certificate of title and relevant registered documents
7. Appendix C: Property Plans: Floor plans, site plans, and other relevant property drawings
Relevant legal definitions
Agreement
Property
Purchase Price
Deposit
Settlement Date
Settlement
Business Day
Certificate of Title
Chattels
Default
Due Date
GST
Land
Improvements
Interest Rate
LIM Report
Notice
Parties
Possession Date
Purchase Price
Purchaser
Rate of Interest
Records of Title
Registration
Settlement Statement
Title
Transfer
Unit Title
Vendor
Working Day
Warranty
Encumbrance
Land Transfer Office
LINZ
Requisitions
Settlement Funds
Settlement Statement
Stakeholder
Title Search
Property
Purchase Price
Deposit
Settlement Date
Settlement
Business Day
Certificate of Title
Chattels
Default
Due Date
GST
Land
Improvements
Interest Rate
LIM Report
Notice
Parties
Possession Date
Purchase Price
Purchaser
Rate of Interest
Records of Title
Registration
Settlement Statement
Title
Transfer
Unit Title
Vendor
Working Day
Warranty
Encumbrance
Land Transfer Office
LINZ
Requisitions
Settlement Funds
Settlement Statement
Stakeholder
Title Search
Clauses
Property Description
Purchase Price
Payment Terms
Deposit
Title Transfer
Settlement
Possession
Property Inspection
Due Diligence
Warranties
Risk and Insurance
Default
Chattels
GST
Land Transfer
Tenancies
Building Compliance
Property Access
Conditions Precedent
Title Requirements
Representations
Dispute Resolution
Notice
Assignment
Governing Law
Force Majeure
Entire Agreement
Amendments
Severability
Costs
Time of Essence
Further Assurance
Counterparts
Purchase Price
Payment Terms
Deposit
Title Transfer
Settlement
Possession
Property Inspection
Due Diligence
Warranties
Risk and Insurance
Default
Chattels
GST
Land Transfer
Tenancies
Building Compliance
Property Access
Conditions Precedent
Title Requirements
Representations
Dispute Resolution
Notice
Assignment
Governing Law
Force Majeure
Entire Agreement
Amendments
Severability
Costs
Time of Essence
Further Assurance
Counterparts
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Property Management
Insurance
Property Investment
Residential Property
Commercial Property
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Finance
Risk Management
Operations
Sales
Investment
Administrative
Relevant Roles
Real Estate Agent
Property Lawyer
Conveyancing Lawyer
Property Manager
Real Estate Broker
Legal Counsel
Property Developer
Investment Manager
Bank Manager
Mortgage Broker
Property Valuer
Compliance Officer
Real Estate Transaction Coordinator
Settlement Officer
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