Read Time: 2-3 minutes
You're enjoying a well-earned Christmas break when you stumble upon the perfect home at an open house. But there's a catch: your mortgage advisor, bank, lawyer, and building inspector are all on holiday. So, how can you secure the property and protect your interests, despite the seasonal shutdown?
Missing out on securing a property during the holiday break can lead to someone else swooping in and taking it off the market. This presents two major concerns:
In NZ's sale and purchase agreements, working days between 24 December and 5 January are not counted. This means any conditions tied to your purchase (like finance or building report) won't start until 6 January 2025. The stakes are high, as using poorly structured conditions or relying on typical clauses can leave you exposed. For example, standard clauses like LIM, building reports, and finance often don't offer enough discretion to cancel if things go south.
We've crafted a tailored template for buyers during the holiday season, giving you the ability to make offers confidently and with the right safeguards in place:
a. This clause gives you a critical window to conduct all necessary inspections, review financing, and fully assess terms after professionals return to work on 6 January 2025. Unlike standard conditions for LIM, building reports, and finance-which are too restrictive and don't give you sufficient discretion to exit the deal this due diligence condition ensures you maintain control over whether to proceed.
a. This extended period allows you to address findings from your due diligence process, negotiate as needed, and secure your financing.
a. These clauses, while often used, tend to be ineffective. They provide only narrow, objective grounds for canceling a deal and are frequently poorly drafted by non-lawyers. Relying solely on them can leave you with insufficient leverage if new information arises during due diligence.
To simplify your process, our template guides you step-by-step through filling out your offer, key negotiation points, and protecting yourself legally. We've also included a video tutorial that outlines everything you need to know.
Template: How to submit an offer conditional on due diligence over the holidays
Video Instructions: How to Make an Offer on a Property Over the Holidays
During the holiday break, make sure you don't lose out on your dream property. Our special offer template protects your interests, offering flexibility and control over conditions during the critical post-holiday period. Unlike standard conditions, our tailored approach gives you the leverage you need to make informed decisions.
Template: How to submit an offer conditional on due diligence over the holidays
Video Instructions: How to Make an Offer on a Property Over the Holidays
