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Introduction
Legal and Negotiation Processes
Preparation and Planning
Settlement and Post-Purchase
The Market and Compliance
Viewing and Inspecting Properties

01.
 
How To Use The Step Guides
02.
 
Buyer Introduction
03.
 
Welcome to Your First Home Journey
04.
 
Your Current Scenario
05.
 
Understanding Real Estate Market Dynamics and Influences
06.
 
Assessing the Benefits of Owning vs. Renting
07.
 
Assessing Your Readiness and Financial Planning for Homeownership
08.
 
Establishing a Budget for Property Purchase
09.
 
How First-Home Buyers Use the Bank of Mum and Dad in NZ
10.
 
Deciding to Work With A Mortgage or Financial Adviser
11.
 
Deciding on Whether to Proceed with Home Buying
12.
 
Analysing Financial Capacity for a Mortgage in New Zealand
13.
 
Getting Pre-Approved for a Mortgage
14.
 
Proceeding As a Cash Buyer
15.
 
Consider Utilising a Home Buying Service
16.
 
Attending Property Seminars and Workshops
17.
 
Exploring Various Mortgage Options in New Zealand
18.
 
Property Sale Types in New Zealand
19.
 
Anti Money Laundering Rules and Regulations
20.
 
Determining Long-Term Goals and Future Plans for Property Buying
21.
 
Costs Associated with Buying a Property
22.
 
Creating a List of Must-Haves and Nice-to-Haves
23.
 
Potential Purchasing Partners for Property Buying
24.
 
Researching the Housing Market in Your Desired Area
25.
 
Avoiding Pricing Pitfalls: A Guide to Transparency in New Zealand’s Property Market
26.
 
Location and Commuting
27.
 
Understanding Property Taxes in New Zealand
28.
 
How to Compare The Values of Similar Properties
29.
 
Exploring Property Listings and Conducting Online Research for Buying Property
30.
 
Interacting with Real Estate Agents
31.
 
Arranging Private Viewings of Properties
32.
 
Arranging Professional Property Inspections
33.
 
Guide to Attending Open Homes and Viewing Properties
34.
 
Seeking Comprehensive Legal Advice Before Making an Offer
35.
 
Choosing the Right Conveyancing Lawyer when Buying Property
36.
 
Understanding Legal Obligations and Rights as a Buyer
37.
 
Considering Community Amenities and Infrastructure
38.
 
Conditional Offers Versus Unconditional Offers
39.
 
Formulating an Offer Strategy
40.
 
Buying a Property at Auction
41.
 
Auction Bidding Services: Expert Representation for Your Property Purchase
42.
 
Buyer First Mover Advantage Offer Strategy
43.
 
Engaging in Negotiation of Purchase Terms
44.
 
Ensuring Compliance with Agreement Conditions When Buying Property
45.
 
Discussing Agreement Details with Your Legal Advisor

46.
 
Undertaking a Geotechnical Report
47.
 
Reviewing Property Inspection Reports for Potential Issues
48.
 
Requesting and Analysing a LIM Report
49.
 
Requesting and Analysing a PIM Report
50.
 
Things to Do During Due Diligence Period to Prepare for Move
51.
 
Preparing the Property: Painting, Staining, and Minor Interior Updates Before Moving In
52.
 
Advantages and Disadvantages of Using a Moving Company
53.
 
Organising Home and Contents Insurance
54.
 
Settlement Day Procedures
55.
 
How to Deal With Settlement Delays in Property Transactions
56.
 
Planning Interior Layout and Design
57.
 
Settling In and Post Purchase Steps
58.
 
Purchasing Necessary Furniture and Appliances
59.
 
Tools and Services To Help Manage Your Property & Finances Post Purchase
60.
 
Re-evaluating Your Budget Three Months Post-Property Settlement

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Buy / Step 45 of 60

Discussing Agreement Details with Your Legal Advisor

A checklist of everything you should discuss with you professional legal advisor

When entering into a conditional offer agreement for property transactions in New Zealand, it is paramount to understand every aspect of the agreement. This detailed guide will walk you through the vital steps of discussing your conditional offer agreement with a legal advisor, ensuring that you are well-informed and prepared for this significant step in your property journey.

A conditional offer agreement is essentially a legally binding contract between the buyer and seller, subject to certain conditions being met. These can range from obtaining financing, property inspections or sale of another property. Given the complexities involved, consulting with a legal advisor is not just recommended, it's crucial.

Initially, seeking legal advice may seem like an additional step and cost, but it serves as an indispensable part of safeguarding your interests. A seasoned legal advisor will decipher complex jargon, clarify terms and conditions and ensure that the agreement aligns with your expectations and New Zealand law.

Before meeting your legal advisor, prepare all relevant documents and write down any questions or concerns you have. This preparation enables a focused discussion and ensures that no critical details are overlooked.

Conditions Precedent

Discuss each condition precedent within the agreement. It's essential to fully understand what needs to be fulfilled before the contract becomes unconditional. Your legal advisor can help you understand the implications and timelines associated with these conditions.

Due Diligence

Ask about due diligence clauses. These allow you to thoroughly investigate the property's condition and other factors before fully committing. Your advisor will explain how to conduct due diligence effectively.

Finance Clause

If your purchase is contingent upon obtaining finance, review this clause carefully with your advisor. They can advise on how to proceed if financing falls through and what that means for your deposit.

Property Inspections

Clarify what happens if a property inspection reveals issues. Your legal advisor can outline your options and recommend how to negotiate repairs or price adjustments.

Sale of Another Property

If your offer depends on selling another property, it's vital to understand the risks involved. Discuss strategies for managing these risks and potential outcomes with your legal advisor.

Settlement Date

The settlement date is when ownership officially transfers from seller to buyer. Confirm this date works for you and learn about potential consequences if either party fails to settle on time.

Penalties for Breach of Contract

Understanding penalties for breaching the contract is crucial. Your legal advisor will explain both parties' obligations and repercussions should either fail to uphold their end of the deal.

Zoning and Compliance Issues

Ensure that zoning laws permit your intended use of the property. Non-compliance can be costly, so it’s important to discuss these aspects thoroughly.

Covenants or Easements

Property covenants or easements can restrict how you use the land or grant rights to others over your property. Evaluate these legal stipulations closely with your advisor.

Cooling-Off Periods

Some agreements include cooling-off periods allowing buyers to back out under specific circumstances. Discuss whether this applies in your case and the implications.

  • Be Proactive: Address potential issues before they become problems.

  • Ask Questions: There are no silly questions when it comes to understanding your contractual obligations.
  • Consider Long-Term Impacts: Assess how each clause might affect future plans for the property.
  • Negotiation Strategies: Learn effective negotiation techniques from your advisor if modifications are needed.
  • Document Review: Have all amendments reviewed by your legal counsel before agreeing.

A reliable legal advisor will provide transparency throughout this process, ensuring you feel confident at every turn. By communicating openly with them, you build a trustworthy relationship that leads to smoother transactions.


Beyond simply guiding you through the contractual specifics, a good legal advisor educates you along the way. They will empower you with knowledge that serves beyond just one transaction.

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