$[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 Initial 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 the conditions of the agreement. 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.
***When you email the real estate agent to request these further terms are included in your offer, be specific about the exact wording.
Click here to see how to make an offer with a due diligence condition.
