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Pre Sale Contract

Pre Sale Contract Template for New Zealand

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Key Requirements PROMPT example:

Pre Sale Contract

"I need a Pre Sale Contract for a 20-unit residential apartment development in Auckland, with construction completion scheduled for March 2025, including staged payment provisions and body corporate rules."

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Document background
The Pre-Sale Contract is a crucial document in New Zealand's property development sector, used when selling properties off-plan or during construction. This agreement type is particularly relevant in new residential developments, apartment complexes, and commercial property projects. The document addresses the specific requirements of New Zealand property law while protecting both parties' interests through detailed specifications, milestone payments, and completion obligations. It includes essential elements such as property details, purchase price, construction specifications, completion timelines, and warranty provisions. The Pre-Sale Contract is commonly used by developers to secure funding and buyers before project completion, while providing purchasers with legal protection and clarity regarding their investment. The agreement must comply with New Zealand legislation, including the Property Law Act 2007, Contract and Commercial Law Act 2017, and relevant consumer protection laws.
Suggested Sections

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

2. Background: Context of the transaction, including property development status and purpose of the agreement

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpretation

4. Agreement to Sell and Purchase: Core agreement terms including property description and purchase price

5. Deposit: Details of deposit amount, payment timing, and handling of deposit funds

6. Construction and Completion: Requirements and timeframes for property construction or completion

7. Settlement and Possession: Settlement process, timing, and requirements for transfer of possession

8. Title and Transfer: Requirements for title transfer and associated obligations

9. Warranties and Undertakings: Vendor's warranties regarding the property and construction

10. Default and Cancellation: Consequences of default by either party and cancellation rights

11. General Provisions: Standard contract terms including notices, amendment process, and governing law

Optional Sections

1. Sunset Clause: Provisions for contract termination if construction isn't completed by a specified date

2. Staged Payments: Schedule of progress payments if purchase price is to be paid in installments

3. Variations: Process for handling changes to specifications or construction plans

4. Body Corporate: Specific provisions for unit title properties including body corporate rules

5. Overseas Investment: Additional provisions required for foreign buyers subject to OIA requirements

6. GST Provisions: Detailed GST treatment if either party is GST registered

7. Mortgage Finance: Conditions related to purchaser's finance arrangements

Suggested Schedules

1. Property Schedule: Detailed description of the property including lot number, title references, and area

2. Plans and Specifications: Architectural plans, engineering drawings, and construction specifications

3. Payment Schedule: Detailed breakdown of purchase price and payment milestones

4. Inclusions and Exclusions: List of items included or excluded from the sale

5. Pre-Settlement Inspection Criteria: Checklist and criteria for pre-settlement inspection

6. Construction Timeline: Expected construction milestones and completion dates

7. Warranties Schedule: Details of warranties provided for construction work and materials

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

Construction

Property Development

Legal Services

Banking and Finance

Residential Property

Commercial Property

Property Investment

Relevant Teams

Legal

Real Estate Sales

Property Development

Construction

Commercial

Compliance

Finance

Project Management

Relevant Roles

Property Developer

Real Estate Agent

Property Lawyer

Construction Manager

Project Manager

Legal Counsel

Conveyancing Lawyer

Sales Manager

Development Manager

Commercial Director

Property Investment Manager

Contract Administrator

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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