REA produces consumer guides on the property buying and selling process, to help buyers and sellers understand key documents used during the real estate transaction. The guides offer essential information about what consumers should expect during a real estate transaction, as well as some of the key risks and issues to watch for.
A Sale and Purchase Agreement is the contract signed by both the seller and the buyer when a property is sold, and sets out all the details, terms and conditions of the sale, including the deposit price, conditions of sale and the settlement date.
The Residential Property Sale and Purchase Agreement Guide, approved by REA under the Real Estate Agents Act 2008, provides an introduction to the purpose, content and usage of a standard sale and purchase agreement used in real estate transactions. Licensed real estate professionals must give you a copy of the guide before you sign a sale and purchase agreement.
The guide is available in English, te reo Māori, Tongan, Korean, Samoan, Hindi, Simplified Chinese.
When a person plans to sell their property with the help of a licensed real estate professional, the licensee must prepare an Agency Agreement, which contains details about the property and what the seller has authorised the licensee to do on their behalf to market and sell it. It outlines the commission rate and marketing plan. The agency agreement needs to be signed by both parties before the real estate professional conducts any real estate agency work on behalf of the seller. The Residential Property Agency Agreement Guide, approved by REA under the Real Estate Agents Act 2008, provides information on how this process works.
Licensed real estate professionals must give you a copy of the guide before you sign an agency agreement.
The guide is available in English, te reo Māori, Tongan, Korean, Samoan, Hindi, Simplified Chinese.
REA’s Buying Journey Guide maps out an end-to-end overview of the home buying process, so you can see where you are and what to do next.
The guide is available in English, te reo Māori, Tongan, Korean, Samoan, Hindi, Simplified Chinese.
REA have developed settled.govt.nz to help guide you through the home buying and selling process. Settled.govt.nz provides comprehensive independent information and guidance for home buyers and sellers. You’ll find checklists, quizzes, videos and tools to help you feel confident and in control.
From understanding LIMs, to sale and purchase agreements, to when to contact a lawyer, settled.govt.nz explains what you need to know.
Settled.govt.nz is brought to you by the Real Estate Authority – Te Mana Papawhenua (REA).
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