Document background
The Letter of Offer to Purchase Property is a fundamental document in New Zealand's property transaction process, serving as the initial formal communication between a prospective buyer and property vendor. This document is typically used when a potential purchaser wishes to formalize their interest in a property and begin negotiations, but before proceeding to a full Sale and Purchase Agreement. It includes crucial information such as the property identification, proposed purchase price, settlement terms, and any conditions precedent to the purchase. The document must comply with New Zealand property law requirements and can be used for both residential and commercial property transactions. While not as legally binding as a Sale and Purchase Agreement, the Letter of Offer to Purchase Property helps establish clear communication between parties and forms the foundation for subsequent negotiations and formal documentation.
