Offer To Purchase Real Estate Form Template for New Zealand

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Key Requirements PROMPT example:

Offer To Purchase Real Estate Form

"I need an Offer To Purchase Real Estate Form for a residential property in Auckland, New Zealand, with settlement planned for March 2025, including conditions for finance approval and building inspection, plus special provisions for existing tenancy agreements."

Document background
The Offer To Purchase Real Estate Form is a crucial document in New Zealand's property transaction process, serving as the initial step in formalizing a property purchase. This document is used when a prospective buyer wishes to make a formal offer on a property, whether residential or commercial. It must comply with New Zealand property law requirements and typically includes detailed information about the property, proposed purchase price, settlement terms, conditions precedent, and any special conditions specific to the transaction. The form is designed to protect both parties' interests and ensure transparency in the transaction process. Once accepted by the vendor, it becomes legally binding subject to any conditions being satisfied. The document needs to align with the Property Law Act 2007, Real Estate Agents Act 2008, and other relevant New Zealand legislation, making it an essential tool in property transactions.
Suggested Sections

1. Parties: Identification of the purchaser making the offer and the property owner (vendor)

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

3. Purchase Price: The offered purchase price in numbers and words, including GST status if applicable

4. Deposit: Amount, payment timing, and handling of the deposit

5. Settlement Date: Proposed date for completing the transaction and transferring ownership

6. Conditions: Standard conditions that must be met before the agreement becomes unconditional

7. Due Diligence: Terms for property inspection, title review, and other investigations

8. Warranties: Standard warranties from the vendor regarding the property's status

9. Default: Consequences and remedies if either party fails to meet their obligations

10. Signing and Acceptance: Execution provisions and timeframe for vendor's acceptance

Optional Sections

1. Chattels: Detailed list of moveable items included/excluded in the sale, used when specific items need to be clearly identified

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

3. GST Provisions: Additional GST-related terms, required when the transaction involves GST-registered parties or commercial property

4. Building Report Condition: Specific terms for obtaining and acting on a building inspection report

5. Finance Condition: Terms relating to the purchaser obtaining financing, used when offer is subject to finance

6. Sale of Purchaser's Property: Conditions relating to the sale of purchaser's existing property, used when offer is conditional on another sale

7. Body Corporate: Specific provisions for unit titles/apartments, required for properties under body corporate management

Suggested Schedules

1. Property Inspection Report: Details of any pre-offer property inspections or conditions noted during viewing

2. Chattels List: Comprehensive inventory of all chattels included or excluded from the sale

3. LIM Report: Land Information Memorandum details if already obtained

4. Title Documents: Copy of certificate of title and relevant registered documents

5. Rental Schedule: Details of current rental income and tenancy terms if property is tenanted

6. Property Disclosure Statement: Vendor's declarations about known issues or defects

7. Proof of Deposit Funds: Evidence of purchaser's ability to pay the deposit

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries

Real Estate

Residential Property

Commercial Property

Property Development

Banking and Finance

Legal Services

Property Management

Construction and Building Inspection

Relevant Teams

Legal

Real Estate

Property Management

Conveyancing

Compliance

Sales

Finance

Risk Management

Operations

Business Development

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Specialist

Property Manager

Real Estate Broker

Mortgage Broker

Legal Counsel

Property Development Manager

Real Estate Transaction Coordinator

Settlement Officer

Compliance Officer

Property Valuer

Real Estate Partner

Property Consultant

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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