Auckland District Law Society Sale And Purchase Agreement

“This is a significant change to the sales contract and it is essential that consumers understand the impact, as if they are not able to prove that they are not able to obtain the financing, that they could be forced to continue the purchase or face other legal actions of the seller,” says Bindi Norwell, Managing Director of REINZ. The standard dates for the other terms of the agreement have been aligned to 15 working days. This data may be changed before the agreement is signed if you believe you need additional time to fulfill the condition. If you are unable to obtain financing and wish to terminate the agreement, you are required to prove the steps you have taken to obtain such financing. You cannot use this condition to cancel if you simply change your mind about the purchase.

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