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Real Estate Purchase Offer Template for New Zealand

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Key Requirements PROMPT example:

Real Estate Purchase Offer

"I need a Real Estate Purchase Offer for a commercial property in Auckland CBD, with specific provisions for existing tenants and a proposed settlement date in March 2025; the property is GST-registered and includes multiple retail units."

Document background
The Real Estate Purchase Offer is a foundational document in New Zealand property transactions, typically used at the beginning of a property purchase negotiation. It serves as the buyer's formal written proposal to purchase a property and, when accepted by the seller, forms the basis of a binding agreement. This document is essential for both residential and commercial property transactions in New Zealand, requiring careful attention to local legal requirements and market practices. The offer should include all material terms of the proposed purchase, including price, payment terms, conditions precedent, and settlement arrangements. It must comply with New Zealand property law requirements and typically incorporates standard clauses recommended by the New Zealand Law Society and the Real Estate Institute of New Zealand. The document is designed to protect both parties' interests while facilitating a smooth property transaction process.
Suggested Sections

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

2. Background: Brief context of the proposed purchase and property overview

3. Definitions and Interpretation: Key terms used throughout the document and rules for interpretation

4. Property Details: Full legal description of the property, including certificate of title details, street address, and land area

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

6. Conditions Precedent: Essential conditions that must be satisfied before the agreement becomes unconditional, including finance, building inspection, and LIM report

7. Due Diligence: Buyer's right to investigate the property and timeframe for completing investigations

8. Settlement: Settlement date, completion requirements, and possession arrangements

9. Property Transfer: Process and requirements for transferring title and registration

10. Warranties and Undertakings: Standard warranties from both parties regarding the property and capacity to enter into the agreement

11. Default and Remedies: Consequences of default by either party and available remedies

12. General Provisions: Standard contractual provisions including notices, governing law, and entire agreement clause

Optional Sections

1. Chattels: Detailed list of moveable items included in the sale, used when specific chattels are being included or excluded

2. Tenancy Details: Information about existing tenancies, used when the property is sold with tenants in place

3. GST Provisions: GST treatment of the transaction, required when either party is GST registered or the property is part of a taxable activity

4. Overseas Investment Conditions: Additional conditions for overseas buyers, required when the purchaser is an overseas person under the Overseas Investment Act

5. Body Corporate: Details of body corporate arrangements, required for unit title properties

6. Development Provisions: Special conditions relating to property development, used when the property has development potential or restrictions

7. Vendor Finance: Terms of any vendor financing arrangement, used when the vendor is providing financing for the purchase

Suggested Schedules

1. Schedule 1: Property Details: Comprehensive property description including boundaries, easements, and encumbrances

2. Schedule 2: Chattels List: Detailed inventory of all chattels included in the sale

3. Schedule 3: Special Conditions: Any special conditions or variations to the standard terms

4. Schedule 4: Due Diligence Checklist: List of investigations and documents to be reviewed during due diligence

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

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

7. Appendix C: Property Plans: Floor plans, site plans, and survey plans where relevant

8. Appendix D: Property Inspection Report: Building inspection report when obtained as a condition

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

Construction

Financial Services

Legal Services

Property Management

Banking

Investment

Insurance

Professional Services

Relevant Teams

Legal

Real Estate

Property Management

Acquisitions

Investment

Finance

Compliance

Risk Management

Operations

Business Development

Commercial

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Property Manager

Real Estate Broker

Property Developer

Investment Manager

Bank Manager

Mortgage Broker

Legal Counsel

Property Valuer

Commercial Property Manager

Real Estate Investment Advisor

Compliance Officer

Risk Manager

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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