$[insert amount] to be paid to [insert real estate agent’s trust account] upon agreement going unconditional and the remainder to be paid in accordance with clause [insert below].
Following the payment of the Intiial Deposit, the residual amount of the 10% of the purchase price will be payable within one working day following receipt of the purchaser's Kiwisaver funds into their solicitor's trust account.
The deposit will be payable into the vendor's solicitor's trust account and held until settlement day or until the vendor's solicitor has provided settlement undertakings to the purchaser's solicitor.
*Warning. This clause is not independent legal advice and you should consult with your own lawyer about entering into any agreement with this clause.
**Please note, the Purchaser needs to take all reasonable steps to fulfill this due diligence condition. Without going into any case law, this means you need to make some effort e.g. instructing your lawyer to review legal documents, arranging finance etc.
***Please make sure when you email the real estate agent to request this due diligence condition is included in your offer, make sure you mention you only require this due diligence condition. Click here to see how to make an offer with this due diligence condition.
