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House Buying Agreement

House Buying Agreement Template for New Zealand

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Key Requirements PROMPT example:

House Buying Agreement

"I need a House Buying Agreement for a beachfront property in Auckland, New Zealand, with settlement scheduled for March 2025, that includes special conditions for existing tenants and coastal erosion considerations."

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Document background
The House Buying Agreement serves as the primary legal instrument for residential property transactions in New Zealand. It is essential when any party wishes to formally purchase or sell a residential property, whether it's a standalone house, apartment, or unit title property. The agreement must comply with New Zealand legislation, including the Property Law Act 2007, Land Transfer Act 2017, and relevant consumer protection laws. It typically includes comprehensive details about the property, purchase price, settlement terms, conditions precedent (such as finance and building inspection), warranties, and specific requirements for both parties. The document is usually prepared using the standard Auckland District Law Society template but can be customized to address specific requirements of the transaction. Property professionals, legal practitioners, and financial institutions regularly rely on this agreement to ensure property transactions are legally sound and protect all parties' interests.
Suggested Sections

1. Parties: Identification of the vendor(s) and purchaser(s) with their full legal names and addresses

2. Background: Brief context of the transaction and property being sold

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property including legal description, certificate of title details, and street address

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

6. Settlement: Settlement date, time, and process requirements

7. Title and Boundaries: Confirmation of title details, boundaries, and any easements or encumbrances

8. Conditions: Standard conditions including LIM report, building report, and finance conditions

9. Vendor's Warranties: Standard warranties about the property's condition, compliance, and disclosed issues

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

11. Risk and Insurance: Allocation of risk and insurance requirements until settlement

12. Default: Consequences of default by either party

13. General Terms: Standard contract terms including notices, time of essence, etc.

14. Execution: Signing provisions and date of agreement

Optional Sections

1. Chattels: Detailed list of chattels included/excluded in the sale - used when specific items need to be listed

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

3. Body Corporate: Body corporate details and obligations - required for apartments or units

4. GST: GST treatment of the transaction - required when either party is GST registered

5. Development Provisions: Special conditions for properties under development or with development potential

6. Overseas Investment: Special conditions when purchaser is an overseas person

7. Sunset Clause: Time limit conditions - used in off-the-plan purchases

8. Multiple Stage Settlement: Terms for settlements occurring in stages - used in complex transactions

Suggested Schedules

1. Schedule 1 - Property Details: Comprehensive property details including certificate of title, legal description, and area

2. Schedule 2 - Chattels List: Detailed inventory 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

5. Appendix A - Title Documents: Copy of certificate of title and relevant title documents

6. Appendix B - LIM Report: Land Information Memorandum report when available

7. Appendix C - Property Plans: Floor plans, site plans, and property drawings

8. Appendix D - Building Report: Building inspection report when available

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








































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Relevant Industries

Real Estate

Property Development

Legal Services

Financial Services

Construction

Property Management

Insurance

Banking

Property Investment

Professional Services

Relevant Teams

Legal

Real Estate Sales

Property Management

Conveyancing

Compliance

Risk Management

Financial Services

Customer Relations

Document Control

Settlement Operations

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Property Manager

Mortgage Broker

Bank Manager

Property Developer

Legal Executive

Settlement Officer

Compliance Officer

Real Estate Branch Manager

Property Valuer

Building Inspector

Insurance Underwriter

Financial Advisor

Industries










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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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