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Home For Sale By Owner Contract

Home For Sale By Owner Contract Template for New Zealand

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Key Requirements PROMPT example:

Home For Sale By Owner Contract

"I need a Home For Sale By Owner Contract for my Auckland property that includes specific provisions for a delayed settlement until March 2025, as the property is currently tenanted, and I want to ensure all tenant rights and transition arrangements are properly addressed."

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Document background
The Home For Sale By Owner Contract is designed for use in New Zealand private property transactions where property owners choose to sell their residential property directly to buyers without engaging a real estate agent. This approach, while requiring more direct involvement from the parties, can result in cost savings and more direct communication between vendor and purchaser. The document ensures compliance with New Zealand property law requirements, including the Property Law Act 2007 and Land Transfer Act 2017, while providing comprehensive coverage of all essential transaction elements such as property details, purchase price, settlement procedures, and warranties. It is particularly suitable for property owners who are comfortable managing their own sale process and want to maintain direct control over the transaction while ensuring legal compliance and protection of their interests.
Suggested Sections

1. Parties: Identification and details of the vendor (seller) and purchaser (buyer)

2. Background: Brief context of the sale and confirmation that the vendor owns the property and wishes to sell to the purchaser

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 details, physical address, and land area

5. Purchase Price: The agreed purchase price and payment structure, including deposit details

6. Conditions: Standard conditions that must be met for the sale to proceed, including finance, title search, and LIM report

7. Settlement: Settlement date, process, and requirements for both parties

8. Property Inspection: Rights and process for property inspection before settlement

9. Warranties and Undertakings: Standard warranties provided by the vendor regarding the property

10. Risk and Insurance: Responsibility for the property and insurance requirements until settlement

11. Default: Consequences and remedies if either party defaults on their obligations

12. General Provisions: Standard legal provisions including notices, governing law, and dispute resolution

13. Execution: Signing provisions and dated execution blocks for all parties

Optional Sections

1. Chattels: Detailed section listing included and excluded chattels, used when specific items need to be clearly identified

2. Tenancies: Details of existing tenancies if the property is sold with tenants in place

3. Body Corporate: Specific provisions relating to body corporate rules and obligations for apartments or units

4. GST: GST provisions if either party is GST registered or the transaction is subject to GST

5. Due Diligence: Extended due diligence provisions if comprehensive investigation rights are required

6. Development Provisions: Special conditions relating to uncompleted buildings or planned developments

7. Land Covenants: Special provisions regarding land covenants or restrictions

8. Overseas Investment: Additional provisions if the purchaser is an overseas person under the Overseas Investment Act

Suggested Schedules

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 - Warranties: Detailed vendor warranties about the property's condition and compliance

5. Appendix A - Property Plan: Copy of the property plan or survey

6. Appendix B - LIM Report: Land Information Memorandum report if already obtained

7. Appendix C - Title Documents: Copy of certificate of title and relevant registered documents

8. Appendix D - Building Reports: Any existing building inspection reports or certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions





























Clauses






























Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Construction

Property Management

Insurance

Professional Services

Residential Property

Relevant Teams

Legal

Property Management

Compliance

Real Estate

Finance

Risk Management

Operations

Administrative Support

Corporate Services

Relevant Roles

Property Owner

Property Buyer

Conveyancing Lawyer

Legal Counsel

Property Manager

Bank Manager

Mortgage Broker

Property Developer

Trust Manager

Company Director

Legal Administrator

Compliance Officer

Property Consultant

Financial Advisor

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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