Making an offer
An offer is a signed agreement with conditions, not a number on a piece of paper. Once the seller signs it you are in a contract. The work that protects you happens before you sign: the price, the conditions, the dates and the chattels all need to be right on the first version, because changing them later costs leverage.
What it is
In New Zealand you make an offer by signing the agreement for sale and purchase, usually the standard agreement from The Law Association and REINZ, with your price and conditions filled in. The agent presents it to the seller. If the seller signs it unchanged you have a binding contract. If they change anything it comes back to you as a counter-offer.
Why it matters
Everything you negotiate later, from a price reduction after the building report to an extension of a condition date, relies on the conditions you put in at the start. An offer with the wrong condition dates, a missing due diligence clause or the wrong purchaser name is a problem you will spend the next three weeks trying to fix.
How we handle it
Send us the draft agreement before you sign it. We check the title and the agent's documents, confirm the purchasing entity, set the condition dates against working days, and draft the conditions in your favour. Most of this takes a day, and it is free before you make the offer. On a weekend we have a process for urgent offers too.
Common traps
- Signing the agent's version of the conditions. They are written to make the offer attractive to the seller, not safe for you.
- Using a solicitor's approval condition as a catch-all. It is weaker than people think.
- Putting the wrong buyer on the front page, then needing a nomination or a new agreement.
- Writing a cover letter that gives away your position on price.
Not sure how this applies to you?
A free 15-minute call with a property lawyer who only works with first home buyers.