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Mou For Sale Of Property Template for New Zealand

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Key Requirements PROMPT example:

Mou For Sale Of Property

"I need an MOU For Sale Of Property for a residential home sale in Auckland, New Zealand, where I'm selling to a first-time buyer and want to include a 30-day due diligence period with settlement targeted for March 2025."

Document background
The MOU For Sale Of Property is a crucial preliminary document in New Zealand property transactions, particularly useful in complex or high-value deals where parties need to establish clear understanding before committing to a binding agreement. It serves as a roadmap for the transaction, documenting the parties' intentions, proposed terms, and conditions while maintaining flexibility for negotiations. This document type is commonly used when extensive due diligence is required, when dealing with commercial properties, or in situations involving overseas investors or corporate entities. While non-binding in nature, it demonstrates serious intent and helps prevent misunderstandings during the negotiation phase. The MOU must align with New Zealand property law requirements and often precedes the standard ADLS/REINZ Agreement for Sale and Purchase of Real Estate.
Suggested Sections

1. Parties: Identification of the potential vendor and purchaser, including full legal names and addresses

2. Background: Context of the proposed transaction, including brief description of the property and parties' intentions

3. Definitions: Key terms used throughout the MOU, including Property, Completion Date, Due Diligence Period, etc.

4. Purpose: States the non-binding nature of the MOU and its purpose as a framework for negotiation

5. Property Details: Detailed description of the property, including address, title details, and any inclusions/exclusions

6. Purchase Price: Proposed purchase price and payment structure, including deposit arrangements

7. Due Diligence: Outline of the due diligence process, timeframes, and access arrangements

8. Timeline: Key dates and milestones for the transaction, including due diligence period and target completion date

9. Confidentiality: Obligations regarding confidential information shared during negotiations

10. Costs: Each party's responsibility for costs during the preliminary phase

11. Next Steps: Process for moving forward to a formal Sale and Purchase Agreement

12. Good Faith: Commitment to negotiate in good faith, while acknowledging non-binding nature

13. Execution: Signature blocks for all parties

Optional Sections

1. Agent Involvement: Details of real estate agents involved and commission arrangements, if applicable

2. Tenant Provisions: Arrangements regarding existing tenants, if the property is tenanted

3. Development Potential: Special provisions regarding development potential or resource consents, if relevant

4. Overseas Investment: Additional requirements if purchaser is an overseas person under the Overseas Investment Act

5. GST Treatment: GST status and treatment of the transaction, if either party is GST registered

6. Conditional Matters: Any specific conditions that need to be met before proceeding to formal agreement

7. Property Sharing Arrangement: If multiple purchasers are involved, their ownership structure and contributions

8. Future Subdivision: Provisions relating to potential subdivision plans, if relevant

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property description, including title references, area, and legal description

2. Schedule 2 - Proposed Commercial Terms: Detailed breakdown of the proposed purchase price, payment terms, and key commercial conditions

3. Schedule 3 - Due Diligence Requirements: List of required due diligence items and documentation to be provided

4. Schedule 4 - Timeline: Detailed timeline with all key dates and milestones

5. Appendix A - Property Plans: Copy of title plans, LIM report references, and any relevant property plans

6. Appendix B - Photographs: Recent photographs of the property

7. Appendix C - Existing Tenancies: Details of any existing tenancy arrangements, if applicable

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

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions































Clauses






























Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Agriculture

Retail

Hospitality

Industrial

Construction

Investment

Legal Services

Property Management

Relevant Teams

Legal

Real Estate

Property Management

Investment

Business Development

Operations

Commercial

Acquisitions

Corporate Affairs

Risk Management

Relevant Roles

Property Lawyer

Real Estate Agent

Property Developer

Investment Manager

Asset Manager

Property Manager

Commercial Director

Legal Counsel

Conveyancing Lawyer

Business Development Manager

Property Acquisition Manager

Chief Investment Officer

Real Estate Broker

Development Manager

Corporate Lawyer

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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