What is a Sale & Purchase Agreement

Once you’ve had the exciting news that an offer’s been made on your property, your agent will present you with a Sale and Purchase Agreement from the buyer(s) to review.

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This agreement outlines in writing all the terms and conditions of the sale which, when signed by both parties, is your contract going forward.

It's generally a fairly lengthy document that will include:

Agreement image
Image credit: Auckland District Law Society Inc. 
  • the price
  • any conditions (i.e. subject to building inspection report) 
  • chattels to be included in the sale,
  • the date the agreement will go unconditional,
  • a settlement date when they move in and you need to be out by,
  • and the deposit the buyer needs to pay.

If you’re selling privately, your lawyer can draft the Sale and Purchase Agreement based on the price and conditions you’ve agreed with a buyer, or can help you review a Sale and Purchase Agreement that a buyer has presented to you as their offer.

If you're selling with an agent they will probably use the Auckland District Law Society and Real Estate Institute of New Zealand form (the ADLS form) as shown above.