New 9th Edition Sale & Purchase agreement - World according to Olly !!!!

[Social_Media_NZT]

http://www.ollynewland.co.nz/important-changes-to-sale-purchase-agreements/3188/

Are the changes for the vendor and purchaser, better or worse compared to previous versions ?

[karenpnz]

I think worse for the purchaser, agents are all complaining about general due diligence clauses I am finding.

[halfempty]

I like that the "And or Nominee" part is printed on the form as a standard item now, it stops IRD being able to say that your intention at purchase was to trade when you might not know what your intention is for the property at that point.

[Social_Media_NZT]

I like that the "And or Nominee" part is printed on the form as a standard item now, it stops IRD being able to say that your intention at purchase was to trade when you might not know what your intention is for the property at that point.

Another very wise man said the very same thing..........................reliable chap just for the record...............!!!

[essence]

Download the 9th Agmt S & P here.

It is well worth printing it off, grabbing a cup of tea (or gin and tonic, or whatever your vice is!!) and having a long read of it.

All clauses are interesting but I think special attention should be given to Clause 3. Newbie investors in the past have enquired as to how many times they can go to the property before settlement. Clause 3.2 sets this out clearly.

Re-read and re-read this document. If you don't understand it, ask your lawyer.

As always - DO NOT PUT OUT AN OFFER UNTIL YOU KNOW WHAT YOU'RE DOING!!

[Social_Media_NZT]

Download the 9th Agmt S & P here.

It is well worth printing it off, grabbing a cup of tea (or gin and tonic, or whatever your vice is!!) and having a long read of it.

All clauses are interesting but I think special attention should be given to Clause 3. Newbie investors in the past have enquired as to how many times they can go to the property before settlement. Clause 3.2 sets this out clearly.

Re-read and re-read this document. If you don't understand it, ask your lawyer.

As always - DO NOT PUT OUT AN OFFER UNTIL YOU KNOW WHAT YOU'RE DOING!!

Thanks for the link essence, great advice to.

[karenpnz]

Yeah this is from the ak law society website but it can't be used to put in an offer due to the highlighting and the word 'sample' stamped all over it.

[Maccachic]

That would be due to copywrite.

[karenpnz]

yep they want their $50 bucks for two forms. Lawyers....
Actually it is still legal to use earlier versions apparently.

[Wayne]

you can use any version you wish so long as both agree (ie sign it). You can also use something else if you want - the ADLS form is just an option.