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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 44 of 60

Ensuring Compliance with Agreement Conditions When Buying Property

Complying with your legally binding Sale and Purchase Agreement

The Sale and Purchase Agreement is a legally binding contract between the buyer and seller. It outlines all the terms and conditions of the sale, including any specific conditions that must be met before the deal can proceed. Familiarising yourself with this document is essential, as it forms the basis of your property transaction.

When reviewing your agreement, pay close attention to:

  • Conditions Precedent: These are actions that must occur before a contract becomes unconditional.
  • Settlement Date: The date when the property officially changes hands and balance of payment is made.
  • Chattels List: Items within the property that are included in the sale.
  • Zoning Information: Ensure that local council zoning allows for your intended use of the property.

Due diligence is a critical step in ensuring compliance. This process involves thoroughly investigating all aspects of the property and its legal standing.

Essential Due Diligence Checks Include:
  • LIM Report: A Land Information Memorandum provides details on land and property from the local council.
  • Title Search: Confirms legal ownership and highlights any covenants or easements affecting the property.
  • Building Inspection: Identifies any structural issues or necessary repairs.
  • Finance Condition: Ensures your loan approval aligns with purchasing timelines.

Securing financing is a common condition in many agreements. To comply, you must:

  • Obtain a formal loan approval from your bank or lender.
  • Ensure the finance condition timeframe aligns with other conditions in your agreement.
  • Communicate promptly with both your lender and real estate agent about meeting this condition.

A satisfactory building report is often a precondition for finalising a sale. Here’s how to handle it:

  • Choose a reputable inspector for an unbiased assessment.
  • Review the report thoroughly for any issues that could affect compliance.
  • Negotiate repairs or price adjustments if significant problems are found.

Zoning laws dictate how you can use your property. Compliance means:

  • Checking current zoning restrictions against your intended use.
  • Applying for resource consent if you plan on making changes that deviate from existing zoning regulations.

Having a lawyer experienced in New Zealand property law is invaluable. They will:

  • Review all legal documents for accuracy and completeness.
  • Advise on any potential legal issues that could affect compliance.
  • Assist in resolving disputes should they arise during the transaction process.

Once all conditions have been met, it’s time to finalise your purchase. This involves:

  • Confirming with your lawyer that all conditions have been satisfied.
  • Preparing for settlement day by organising insurance and final inspections.
  • Ensuring funds are ready for transfer on the agreed settlement date.

On settlement day, make sure to:

  • Conduct a final walkthrough of the property to verify its condition hasn’t changed since your last inspection.
  • Confirm transfer of utilities into your name.
  • Receive confirmation from your lawyer that funds have been transferred and received by the seller’s solicitor.

After taking ownership, maintaining compliance involves:

  • Adhering to any ongoing covenants noted on the title.
  • Obtaining necessary permits for renovations or developments on the property.
  • Regularly reviewing local council regulations to ensure continued compliance.


Compliance with agreement conditions when buying property in New Zealand requires diligence, attention to detail, and professional guidance. By following this guide, you’ll position yourself for a successful and compliant real estate transaction. Remember, each step you take towards ensuring compliance is a step towards securing not just a piece of property but also peace of mind in your investment.

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