Document background
The Home Offer Letter is a crucial initial document in New Zealand's residential property purchase process. It is typically used when a potential buyer has identified a property they wish to purchase and wants to formalize their interest with a written offer. The document serves as a precursor to the more detailed Sale and Purchase Agreement and should clearly state the offered purchase price, payment terms, proposed settlement date, and any conditions such as finance approval or building inspection requirements. While not legally binding until converted into a formal agreement, the Home Offer Letter sets the framework for negotiations and demonstrates the buyer's serious intent. It must comply with New Zealand property law requirements and typically includes sufficient detail to allow the seller to make an informed decision about whether to proceed with the sale.
