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Understanding A Sale & Purchase Agreement When Buying

Understanding A Sale & Purchase Agreement When Buying

Source: Settled.govt.nz

 

Understanding a sales and purchase agreement is a must-do when buying a home. Settled has laid out a list of things to keep in mind that summarise what the agreement is all about.

  • You must sign a written sale and purchase agreement when you buy a property.
  • Always check your sale and purchase agreement with a lawyer or conveyancer before signing. You need to read and understand the agreement before you sign it.
  • You should always get legal advice before you sign the agreement and throughout the buying process.
  • You can negotiate the conditions in a sale and purchase agreement.
  • A sale and purchase agreement becomes unconditional when all the conditions are met.
  • The agent helps you and the seller to include the conditions you both want. Even though the agent works for the seller, they also have to deal fairly and honestly with the buyer. They can’t withhold any information, and they must tell you about any known defects with the property.

Before you sign a sale and purchase agreement, the agent must give you a copy of the REA New Zealand Residential Property Sale and Purchase Agreement Guide. They must also ask you to confirm in writing that you’ve received it.

 

For more information, head to https://bit.ly/351NXtO

 

This page provides general information only and should not be relied on. You should always get advice from your own lawyer or talk to our team at Southland Real Estate directly.