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Getting the contract right

 

Sale and Purchase Agreements are usually a standard form, such as the Auckland District Law Society and Real Estate Institute of New Zealand’s standard sale and purchase agreement. Even if you use one of these contracts it is still useful to get legal advice on the terms and conditions of the contract before signing. 

Buyers wanting a builder’s or engineer’s report should include an appropriate condition on their offer, allowing them to cancel the contract if the report is not satisfactory.  

Make sure that whatever you sign is right for you before you sign it. Once the agreement is signed it is binding.

This information is published by the Ministry of Business, Innovation and Employment’s Chief Executive. It is a general guide only and, if used, does not relieve any person of the obligation to consider any matter to which the information relates according to the circumstances of the particular case. Expert advice may be required in specific circumstances. Where this information relates to assisting people: