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Flat Buying Agreement
"I need a Flat Buying Agreement for a two-bedroom apartment in Auckland CBD, where the purchase is conditional on obtaining finance approval and a satisfactory building inspection report, with settlement planned for March 2025."
1. Parties: Identification of the vendor and purchaser with full legal names and addresses
2. Background: Context of the transaction and brief description of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Detailed description of the flat, including unit number, certificate of title details, and share in common property
5. Purchase Price: The agreed purchase price and payment terms, including deposit requirements
6. Settlement: Settlement date, time, and process requirements
7. Title and Transfer: Provisions regarding transfer of title and registration requirements
8. Body Corporate: Details of body corporate arrangements, fees, and obligations
9. Warranties: Vendor's warranties regarding the property and title
10. Condition of Property: State of the property at sale and any included chattels
11. Due Diligence: Purchaser's rights and obligations regarding property inspection and verification
12. Default: Consequences of default by either party
13. General Provisions: Standard contract terms including notices, amendments, and governing law
14. Execution: Signing provisions and date of agreement
1. Finance Condition: Conditional terms if purchase is subject to finance approval
2. Sale of Existing Property: Conditions relating to the sale of purchaser's existing property
3. Overseas Investment Approval: Required when purchaser needs Overseas Investment Office consent
4. Tenant Rights: Provisions regarding existing tenancy if property is currently tenanted
5. Building Report: Conditions relating to obtaining a satisfactory building inspection report
6. Methamphetamine Testing: Conditions for methamphetamine testing and acceptable levels
7. Earthquake Prone Buildings: Special provisions for buildings identified as earthquake prone
8. GST Provisions: Required when either party is GST registered and transaction includes GST
1. Schedule 1: Property Details: Detailed description of the property including boundaries and improvements
2. Schedule 2: Chattels: Itemized list of chattels included in the sale
3. Schedule 3: Body Corporate Rules: Current body corporate operational rules
4. Schedule 4: Unit Plan: Copy of the unit plan showing the flat and common areas
5. Schedule 5: Pre-settlement Disclosure Statement: Required disclosure of body corporate information under Unit Titles Act
6. Schedule 6: Maintenance Schedule: Details of any scheduled maintenance or repairs
7. Appendix A: LIM Report: Land Information Memorandum report from the local council
8. Appendix B: Title Documents: Copy of certificate of title and relevant instruments
9. Appendix C: Body Corporate Minutes: Recent body corporate meeting minutes and financial statements
Authors
Body Corporate
Building
Business Day
Chattels
Common Property
Completion Date
Deposit
Default Interest Rate
Due Diligence Period
Flat
GST
Land
LINZ
LIM Report
Occupancy Permit
Possession Date
Principal Unit
Purchase Price
Property
Settlement
Settlement Date
Share
Title
Unit Plan
Unit Title
Utility Interest
Vendor
Purchaser
Working Day
Accessory Unit
Body Corporate Rules
Body Corporate Levies
Certificate of Title
Disclosure Statement
Encumbrance
Land Transfer Office
Improvements
Pre-settlement Disclosure Statement
Registered Valuer
Sale and Purchase
Solicitor
Transfer
Unit Entitlement
Warranties
Agreement to Sell and Purchase
Purchase Price
Deposit
Title and Transfer
Property Inspection
Due Diligence
Settlement
Risk and Insurance
Vacant Possession
Property Condition
Warranties and Representations
Body Corporate Provisions
Unit Title Provisions
Pre-settlement Disclosure
Property Access
Default
GST
Notice and Communications
Assignment
Overseas Investment
Finance Condition
Building Report
Property Investigation
Sale of Purchaser's Property
Chattels
Maintenance
Damage and Destruction
Agent's Authority
Further Assurances
Governing Law
Entire Agreement
Severability
Costs
Force Majeure
Execution
Real Estate
Legal Services
Property Management
Banking and Finance
Insurance
Property Development
Construction
Property Investment
Professional Services
Legal
Real Estate
Property Management
Conveyancing
Compliance
Risk Management
Finance
Operations
Client Services
Business Development
Real Estate Agent
Property Lawyer
Conveyancing Lawyer
Property Manager
Body Corporate Manager
Mortgage Broker
Bank Manager
Property Valuer
Building Inspector
Legal Executive
Property Developer
Investment Advisor
Real Estate Partner
Property Consultant
Compliance Officer
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