NEW AGREEMENT FOR SALE AND PURCHASE NOW RELEASED

The previously released "Plain English" Agreement (developed by the Real Estate Institute of New Zealand (REINZ)) has not found any favour in the marketplace. We had previously advised you of this Agreement and the need to be careful in it's use.

The REINZ and the Auckland District Law Society have now collaborated on a fresh and revised edition of the standard Agreement for Sale and Purchase which has now been released for use (as of 16 August 2010). This Agreement is known as the Eighth Edition 2006 (3) - i.e. Version 3 of the Eighth Edition. There are a number of amendments to the previous version of the Agreement taking into account both developments in real estate law as such as well as changes and developments in practice.

If you need to know anything about this Agreement or are unsure of anything, please get in touch with us. This version will now become the de facto standard Agreement.