Professional Documents
Culture Documents
REINZ
Useful Clauses
and
Authorities ©
February 2000
© Real Estate Institute of New Zealand Inc.
Index
Part 1 Sections
61. Sale of Sections.................................................................................................................25
62. Fence to Remain...............................................................................................................25
63. Purchaser to Keep Land Clear..........................................................................................26
Part V Leases
64. Right of First Refusal.........................................................................................................27
65. Rent Holiday......................................................................................................................27
66. Demolition..........................................................................................................................27
67. Prior Access......................................................................................................................27
68. Sublease............................................................................................................................27
Copyright of REINZ Useful Clauses© is held by the Real Estate Institute of New Zealand, Inc. All
material herein is provided expressly for the use of Licensee Members of the REINZ and their
personnel engaged in conducting real estate agency transactions.
Any company or individual wanting to incorporate any material from this publication in their
products/services supplied to Real Estate Agents may apply for approval to become an
authorised licensed user. Forward applications to: The Services Coordinator, REINZ, P O Box
5663, Auckland 1036; fax 0 9 379 8471.
WARNING
I. Agreements for Sale and Purchase of Real Estate
The clauses relating to sale and purchase of real estate are drafted for insertion in the "Further
Terms of Sale" section of the Auckland District Law Society/REINZ form of Agreement for Sale
and Purchase of Real Estate (seventh edition July 1999). They will be reviewed and amended
where necessary following any changes to the agreement form.
The General Terms of Sale in the Agreement form, Clauses 1.0 to 13.0, should not be deleted
or varied; nor should additional clauses be added in that section. Any deletions, variations or
additions should be made in the "Other Terms of Sale" section by reference to the General
Terms of Sale.
Example:
14.0 "Delete subclause 8.2 in General Terms of Sale and substitute:
14.1 [Set out full text of clause]
15.0 Delete subclause 8.4 in General Terms of Sale and substitute:
15.1 [Set out full text of clause]
etc
The General Conditions of Sale in the Agreement for Sale and Purchase of a Business,
Clauses .0 to 16.0, should not be deleted or varied or additional clauses added in that section.
Any deletions, variations or additions should be made in the "Special Conditions" section by
reference to the General Conditions in the same manner as described for the Agreement for
Sale and Purchase of Real Estate above.
V. Leases
The clauses in this category are drafted for insertion into the Auckland District Law
Society/REINZ Agreement to Lease 1993. They will be reviewed and amended where
necessary following any changes to the agreement form.
VI. Commercial
The clauses in this category should be used in the same manner as the clauses relating to sale
and purchase of real estate (Part 1).
Where the vendor is selling shares in a property owning company an agreement should not be
entered into without prior consultation with the solicitors for the parties.
NOTE:
If the unit title has not been issued, the appropriate wording should be finalised in
consultation with Vendor's solicitor.
NOTES:
1. If the cross lease title has not been issued the appropriate wording should be
finalised in consultation with parties' solicitors.
2. If development work is to be undertaken by the Purchaser, the Auckland District
Law Society/REINZ Addendum of Clauses for Staged Development Work should be
included in the agreement.
NOTE:
This clause allows the purchaser one hour to confirm satisfaction of the condition to the
vendor. Care must be taken to ensure that any agreement entered into by the Purchaser
takes into account the standard time limits in this agreement. The normal cut-off time
for satisfying conditions is 5.00 pm. (See Clause 1.1(7) of General Terms of Sale. If in
doubt legal advice should be obtained.)
NOTE:
Care must be taken when using this clause to ensure that it is correctly linked to the
time limits in the Purchaser's existing conditional contract and that there is sufficient
time after the time limit set in that agreement to communicate acceptance to the Vendor
under this contract. The normal cut-off time for satisfying conditions (5.00 pm - see
Clause 1.1(7)) General Terms of Sale) has been extended by one hour in this clause in
order to allow for that communication. However, if the stated time in the prior agreement
is earlier than 5.00 pm then the time under this clause should be set at no less than 1
hour after that time.
NOTE:
Care must be taken to ensure that there is a proper linkage between the time limits in the
first option and in this agreement and in the event of doubt legal advice should be
obtained. (see Clause 1.1(7) of General Terms of Sale).
NOTE: The prior agreement may contain more than one condition and this clause refers
only to the date on which the last of the conditions is to be satisfied, unless the prior
agreement is earlier terminated. Care must be taken to ensure that there is a proper
linkage between the prior agreement and the "back up" agreement.
9. Escape Clause
Sometimes required by Vendor before accepting conditional offer
If before this agreement becomes unconditional the Vendor enters into another agreement
which is either conditional, or is [delete reference to conditional agreement on instruction from
Vendor] unconditional in all respects except for it being subject to non confirmation of this prior
agreement, and which the Vendor in the Vendor's judgment considers to be no less favourable,
the Vendor may deliver to the Purchaser or the Purchaser's solicitor notice in writing requiring
the Purchaser to confirm this agreement as being unconditional. The Purchaser shall have
until 4.00 pm on the third working day after delivery of such notice to advise the Vendor by
delivery of notice in writing to the Vendor or the Vendor's solicitor that this agreement is
unconditional, otherwise this agreement shall terminate. This condition is for the sole benefit of
the Vendor.
NOTES:
1. The Vendor should be asked to decide whether or not a conditional backup offer
should be able to trigger the escape clause.
2. A letter in exercise of this provision should be prepared by the Vendor's solicitor.
NOTE:
This provision should not be used without consultation between the solicitors for the
parties. It virtually converts the agreement into an option. However, it might be
intended that a Purchaser will not be subject to penalties if there is delay in settlement
of the Purchaser's own sale. If this is what is required, a suitable alternative clause
should be drafted.
NOTE:
It is preferable to have a copy of the mortgage form annexed to the agreement.
NOTE:
The proposed first mortgage should also be described in the Financial Conditions
section of the schedule.
NOTE:
It is preferable to have a copy of the mortgage form annexed to the agreement.
NOTE:
This clause should be used with caution as it allows the Purchaser a wide discretion to
bring the contract to an end. If the specific financial conditions in the "Financial
Conditions" section of the front page schedule are completed, a clause of this nature
would not be required.
However, the Financial Conditions section must be completed with caution; it has the
effect of binding the Purchaser to the financial arrangements as stated, something that
must be clearly explained to the Purchaser.
This agreement is conditional upon the Purchaser being satisfied, after taking such advice as
the Purchaser may wish, that the property is in all respects suitable for the Purchaser. The
Purchaser shall notify the Vendor or the Vendor's solicitor not later than ............... pm
on ........................................................... [insert date] that this condition has been fulfilled or this
agreement will be at an end and the deposit paid (if any) will be returned to the Purchaser.
This condition is for the sole benefit of the Purchaser.
NOTES:
1. The contract does not become binding on the Purchaser until three days after the
disclosure provisions of the Credit Contracts Act 1981 have been complied with.
2. If there is to be a sale on terms with settlement delayed for more than 93 days
after the date of the agreement, the transaction may be affected by the accruals
provisions of the Income Tax Act 1994. The provisions of the Goods and Services Tax
12 REINZ Useful Clauses and Authorities – February 2000 ©
Act might require payment of GST on the whole purchase price at the time of payment of
the deposit or first instalment. Parties should not enter into agreements without
obtaining appropriate professional advice and the necessary clauses should be
prepared after consultation with the parties' solicitors.
NOTE:
Caution should be exercised in using this clause as the extension for the hearing of a
possible appeal might delay confirmation for several months.
NOTE:
An option to purchase should adopt the standard form Agreement for Sale and Purchase
of Real Estate, thereby incorporating all its standard conditions.
DATED: / / 20
.......................................................................
Signature of Owner Granting Option
Exercise of Option
DATED: / / 20
.......................................................................
Signature of Owner Granting Option
NOTE:
The Vendor's liability under the Consumer Guarantees Act is not affected by the
notification provisions in this clause.
NOTE:
This exclusion clause does not protect the agent against claims by the agent's principal
where the agent makes representations not authorised by the principal.
The Vendor warrants that on or before possession date it will terminate employment of and pay
to all staff all sums to which they are entitled in respect of current pay, holiday pay, back pay,
long service leave, redundancy, sick leave and all other allowances and entitlements and no
liability for such shall be incurred by the Purchaser. The records showing that sums have been
paid shall be made available to the Purchaser on the date of possession. It is acknowledged
that all the staff at present employed by the Vendor may be offered employment with the
Purchaser, at the option of the Purchaser.
NOTE:
This clause, and the next clause following, can only be used where the purchaser is a
company.
NOTE:
This clause should be amended if top dressing is to be undertaken on part only of the
property.
NOTE:
Because different types of baling are now used, it will be necessary to describe the type
of bale.
Note:
Because of the current restructuring of the dairy industry and the further unbundling of
on-farm and off-farm assets, it has been thought unwise to include relevant clauses in
this edition. It is recommended that appropriate provisions be included on advice from
the Vendor's solicitor. Relevant clauses may be included in the next edition if the
distinction between on-farm and off-farm assets and entitlement to hold industry shares
has become settled.
NOTE:
See also clause 18 - Conditional on Resource Consent
54. Regrassing
During the Autumn the Vendor will at the Vendor's expense cultivate and re-sow in grass the
areas that have been cropped during the past season. Such resowing shall be carried out in
accordance with usual farm practices in this district and with quantities and quality of seeds and
fertiliser that would be normally accepted in this locality. Such resowing shall be completed
by ................... [insert date].
-.0 The Purchaser shall have the right to pay the whole or any part of the outstanding
balance of purchase price at any time and interest on any amount(s) so paid shall cease from
the next interest calculation day following any such payment; but the Purchaser will have a
continuing obligation to make compulsory payments in reduction of the purchase price.
NOTES:
1. The contract does not become binding on the Purchaser until three days after the
disclosure provisions of the Credit Contracts Act 1981 have been complied with.
2. If there is to be a sale on terms with settlement more than 93 days after the date
of the agreement the transaction may be affected by the accruals provisions of the
Income Tax Act 1994. The provisions of the Goods and Services Tax Act might require
payment of GST on the whole purchase price at the time of payment of the deposit or
first instalment. Parties should not enter into such agreements without obtaining
professional advice and ensuring the appropriate clauses have been prepared after
consultation with the parties' solicitors.
66. Demolition
Notwithstanding the term of the lease the tenant shall vacate the demised premises and this
lease shall determine without prejudice however to any right of action or other remedy of the
landlord in respect of any antecedent breach of any of the covenants conditions and
agreements herein contained or implied upon the expiration of twelve (12) months notice in
writing from the landlord so to do but such notice shall be given by the landlord only for the
purpose of demolition and rebuilding or making any structural alterations thereto or to the
building itself or any portion thereof.
68. Sublease
The parties hereto acknowledge the agreement evidenced herein is a sublease and for
interpretation landlord and tenant shall be sublessor and sublessee.
NOTE:
Parties negotiating a sublease should obtain independent legal advice regarding the
status of the headlease, and the relationship between the headlease and the sublease.
NOTE:
This clause is for use where the purchaser is a company.
4. Use: Such use as conforms with the requirements of the operative and any proposed
district plan and as is otherwise approved by the purchaser PROVIDED THAT such approval
shall not be unreasonably or arbitrarily withheld in the case of a use which is not noxious or
offensive
6. The personal covenants of the shareholders of any approved tenant shall be required in
the case of a company other than a public listed company.
In the event that a lease is not arranged as aforesaid, the Vendor shall pay monthly in advance
to the Purchaser an amount equivalent to the monthly payments of rent and all other outgoings
which would otherwise be payable if such tenancy had been arranged and such monthly
payments shall continue until a lease has been arranged by the Vendor with such
apportionment for any broken monthly period as may be appropriate.
NOTE:
A certificate of non-revocation is required where one of the parties to the agreement is
executing pursuant to the authority conferred by a power of attorney. The party
executing in this manner should obtain legal advice prior to entering into the
transaction.
Since the date of publication or display of this information, a property may have been sold or
withdrawn from sale, or the terms of sale may have been altered. Contact this office before
taking any action.
NOTE:
This disclaimer should be used in conjunction with advertising (of any description) for
the sale of properties.
NOTE:
All agents conducting "open homes" must obtain the consent of all visitors inspecting
the open home for the recording and use of personal information for other than security
purposes. A suggested form of register is:
We the undersigned agree that the following information concerning ourselves may be used by
you or any other agent associated with you for the purpose of marketing of real estate:
NOTE:
The agreement to use of information must appear on each page of the register and be
drawn to the attention of the person supplying the information. If the person objects to
the use of their information for marketing the appropriate note can be made in the
comment column.
NOTE:
This disclaimer applies to information provided by a real estate agent to a prospective
Purchaser.
78. Disclaimer for market appraisal for a financial institution for lending purposes
1.0 This report is a market appraisal prepared solely to provide information to the
addressee who is considering whether to provide financial assistance for the purchase of the
subject property.
2.1 The report is not a site, structural or engineering survey. It is not a valuation. It does
not purport to provide any information available under s 44A of the Local Government Official
Information and Meetings Act 1987. It does not contain any information regarding the legal
status of the property.
2.2 Any information of the nature described in 2.1 should be obtained from an appropriately
qualified professional advisor.
3.0 This report is prepared for the addressee only. Any person, other than the addressee
who relies on this report for any purpose does so in all respects at their own risk.
NOTE:
Reference to a "valuation" is reference to a valuation by a registered valuer. Reference
to s 44A of the Local Government Official Information and Meetings Act 1987 refers to
the Land Information Memorandum which can be issued by the local authority.
1.0 This report is a market appraisal of the assets of [name of business] ("the business")
which has been prepared solely for the use of the addressee. The addressee has requested
the market appraisal to assist in the marketing of the assets of the business for sale.
2.1 The report is not a site, structural or engineering survey of any property belonging to the
business. It is not a valuation. It does not purport to provide any information available under
s44A of the Local Government Official Information and Meetings Act 1987. It is not an opinion
about the legal status of the property belonging to the business. It does not constitute an audit
of the financial status of the business and contains no professional evaluation of the financial
management of the business or any taxation implications arising from the business or its sale.
2.2 Any information of the nature described in 2.1 should be obtained from an appropriately
qualified professional advisor.
3.0 This report is prepared for the addressee only. Any person, other than the addressee
who relies on this report for any purpose does so in all respects at their own risk.
80. Disclaimer Where a Real Estate Agent Provides a Market Appraisal for the Sale of
Shares for Marketing Purposes
1.0 This report is a market appraisal of the value of the shares in [name of company] ("the
company") which has been prepared solely for the use of the addressee. The addressee has
requested the market appraisal to assist in the marketing of the shares of the company for sale.
2.1 The report is not a site, structural or engineering survey of any property belonging to the
company. It is not a valuation. It does not purport to provide any information available under
s44A of the Local Government Official Information and Meetings Act 1987. It is not an opinion
about the legal status of the property belonging to the company, or the legal status of the
company or the shares in the company. It does not constitute an audit of the financial status of
the business and contains no professional evaluation of the financial management of the
company or any taxation implications arising from the company or its sale.
2.2 Any information of the nature described in 2.1 should be obtained from an appropriately
qualified professional advisor.
3.0 This report is prepared for the addressee only. Any person, other than the addressee
who relies on this report for any purpose does so in all respects at their own risk.
1. In consideration of the Agent listing for sale and using its best endeavours to sell the property
at .................................................................................. the Owner appoints the Agent as an agent for the
sale of the property.
2. This agency shall commence immediately on signing and shall continue until cancelled by notice
in writing to the Agent, which notice may become effective not earlier than midnight on the ( )th day
after delivery of the notice. (Note: Up to a 7 day period may be reasonable - an agency subject to a
specific cancellation period may be more secure and may lead to less dispute as to right to cancel than
one which does not have a cancellation provision).
3. If the Owner enters into a contract to sell or exchange the property, or part of it,
(a) during the period of this agency; or
(b) after this agency has been cancelled, and the Agent has introduced the Purchaser to the
property during the period of this agency and that contract becomes unconditional and binding on the
parties, whether during or after the period of the agency, the Owner agrees to pay the Agent
commission, fees and other agreed expenses as
follows: .........................................................................................
5. The Agent is not authorised to sign a contract for sale of the property.
7. I/WE have read, understood and agreed to the above terms. Receipt of a copy of this
agreement and the property description sheet is acknowledged by me/us. I/we have the authority of all
the Owners (if any others) to sign this agreement.
1. In consideration of the Agent using its best endeavours to sell the Owner's property
at............................................... and providing the services under its [refer Licensee's Marketing Plan],
the Owner appoints the Agent as sole Agent [with exclusive selling rights] for the sale of the property.
2. This sole agency shall commence immediately on signing and shall continue until midnight on
the ............. day of ........................... [insert date]. The Owner has disclosed to the Agent all existing
agencies as noted below. The agency granted in this agreement is given subject only to those existing
agencies and the Owner undertakes to cancel those agencies as soon as the Owner can legally do so.
3. If the Owner enters into a contract to sell or exchange the property, or part of it;
(a) During the period of this agency; or
(b) After this agency has expired, to a purchaser who has been introduced to the property by the
Agent during the period of this agency, and that contract becomes unconditional and binding on the
parties, whether during or after the period of the agency, the Owner agrees to pay the Agent
commission, fees and other agreed expenses, as follows: [insert details].
The Owner understands that the commission and other charges are payable whether or not the
contract has been negotiated through the Agent, even if the Owner should sell the property
without the assistance of the Agent, or through another agent.
5. The Agent is not authorised to sign a contract for sale of the property.
6. Indemnity by Owner and authority to use information. The Owner has read the property
description sheet and certifies that the information is correct in all respects. The Owner indemnifies the
Agent against claims arising from the proper use of that information. The Owner agrees to the listing
information and particulars of the sale of the property being passed on to any person for marketing
purposes and statistics compiled and distributed by the Real Estate Institute of New Zealand.
7. I/WE have read, understood and agreed to the above terms. Receipt of a copy of this
agreement [the marketing plan] and the property description sheet is acknowledged by me/us. I/we have
the authority of all the Owners (if any others) to sign this agreement.
......................................................................................... Date: / / 20
Signature of Owner or authorised signatory
........................................................................................ Date: / / 20
Signature of Agent or authorised signatory
NOTE:
A "Clause for Insertion in Sole Agency Agreement to Allow for Master Agency" appears on page
37 of this booklet. If required it could be inserted in this authority (above) between clauses
currently numbered "5" and "6".
......................................................................................... Date: / / 20
Signature of Owner or authorised signatory
........................................................................................ Date: / / 20
Signature of Agent or authorised signatory
NOTE: A "Clause for Insertion in Sole Agency Agreement to Allow for Master Agency" appears on
page 37 of this booklet. If required it could be inserted in this authority (above) between clauses
currently numbered "5" and "6".
REINZ Useful Clauses and Authorities – February 2000 © 35
JOINT SOLE/EXCLUSIVE MARKETING AGREEMENT
1. In consideration of the Agents using their best endeavours to sell the Owner's property
at .....................................................................................................
("the property") and providing the services detailed in the attached Marketing Schedule
incorporating the Marketing Programme, the Owner appoints both the Agents to be the Agents for the
sale of the property, with selling rights (incorporating "For Sale" and "Sold By" rights) exclusive to the
Agents.
2. This Agency will commence immediately on signing and shall continue until midnight on the
day of 20
3. If the Owner enters into a contract to sell or exchange the property or part of it:
(a) during the period of this agency; or
(b) after this agency has expired,
to a purchaser who has been introduced to the property:
(c) by one or both of the Agents during the period of this Agency, or
(d) through the instrumentality of one or both of the Agents,
and that contract becomes unconditional and binding on the parties, whether during or after the period of
this Agency, the Owner agrees to pay the Agents commission, fees and other agreed expenses set out
below.
The Owner understands that the commission and other charges are payable whether or not the
contract has been negotiated through the one or all of the Agents and even if the Owner should sell the
property without the assistance of any of the Agents.
4. The Owner acknowledges (and if more than one, jointly and severally):
(a) that the Agents have advised the Owner on cancellation procedures, the need to cancel all other
agencies granted for the sale of the property, and the need to comply with any specific notice
requirements in respect of the other agency or agencies;
(b) any general agencies have been cancelled or will be cancelled by the Owner;
(c) the listing information and particulars of the sale of the property may be passed to any persons
for marketing purposes and statistics complied and distributed by the Real Estate Institute of New
Zealand;
(d) any subsequent inquiry or negotiation from other agents will be referred directly to the Agents;
(e) either one of the Agents is entitled to receive and hold the deposit on behalf of the Owner;
(f) the Agent holding the deposit is entitled to deduct their fees and commissions and any other
agreed expenses from the deposit, and is responsible for ensuring that the other Agent received
payment of their fees and commissions due under this agreement by deduction from the deposit;
(g) where no deposit is received by either Agent, the Owner will pay each Agent their share of the
fees and commission and other agreed expenses forthwith on invoice.
8. (a) The Owner agrees to pay a basic fee of $ and on the first $ of consideration
and on any balance of consideration (plus GST) ("the Commission").
(b) All parties to this agreement acknowledge that:
(i) the Agent who sells the property will receive % of the commission for the sale of the
property; and
(ii) the Agent who does not sell the property will receive % of the commission for the
sale of the property.
(c) Each week by pm on day, both the Agents will report to the Owner with details
of selling activities for the property.
I/We have read understood and agreed to the above terms. I/We acknowledge that I/We have received
a copy of this agreement and the Marketing Schedule. I/We have the authority of all the Owners (if any
others) to sign this agreement.
................................................ .....................................................
Owner's signature Owner's signature
Date: / / 20 Date: / /20
................................................ .....................................................
Signature of Listing Agent or authorised signatory Signature of Listing Agent or authorised
signatory
Date: / / 20 Date: / /20
Clause for Insertion in Sole Agency Agreement to Allow for Master Agency:
The Sole Agent is authorised to engage the agents named below as Sub-Agents who may offer the
property for sale under the direction of the Sole Agent. The Owner will allow the Sub-Agents to inspect
the property to introduce purchasers to the property and to negotiate a sale on behalf of the Owner but a
Sub-Agent will have no direct claim against the Owner for a commission or other payments and if a sale
is effected by a Sub-Agent any remuneration will be paid to the Sole Agent. The Sole Agent is authorised
to give information concerning the property and particulars of the Owner's name and address to the Sub-
Agents who in turn may use such information for the purposes of negotiating a sale of the property.
NOTE:
A dominant group of agents participating in a joint agency arrangement may find themselves to
be in breach of the provisions of the Commerce Act, 1986, which prohibit practices substantially
lessening competition (s 27) and price fixing (s 30).
A group of agents contracting collectively as "Joint Agents" may be offering a common price for
their services, whereas a Master Agent can be the only agent contracting with the Principal and
can be seen to be acting independently of its competitors but engaging them on such terms as
may be negotiated between them separately, without reference to the Principal.
To: .............................................................................................................................................
I hereby appoint you my Agent(s) for the purpose of arranging the letting or leasing of my property
described below, for the period and on the terms and conditions set forth below, and I authorise you to
sign an agreement setting out the basis for the letting or leasing in accordance therewith and to receive
payment on account of rent on my behalf. You are authorised to use particulars of my name and address
and information concerning the property for the purposes of arranging the letting or leasing.
If the property is let or leased by you or through your instrumentality or to anyone introduced through
agency, either at the rental for the period and on the terms and conditions stated below, or at such other
rental for such periods and upon such terms and conditions as are acceptable to me, I agree to pay your
fee (specify fee here or in a schedule).
........................................................................................ Date: / / 20
1. I appoint you my Agent to manage my property as listed and I agree to pay you ..........% plus
GST of all moneys collected by you and ..........% plus GST of all repairs, maintenance and renovations
arranged by you. I acknowledge that you receive your letting charges from the tenant.
2. I acknowledge that with this appointment you, as my Agent, under the terms of the Residential
Tenancies Act 1986, are to act on my behalf as if you were the landlord.
3. I authorise you to collect a bond to be paid to the Tenancy Services division of the Ministry of
Housing on my behalf and when the tenancy is terminated I authorise you, after you inspect the property,
to approve the refund to the tenant on my account of all or part of this bond as you in your judgment
decide is fair and reasonable.
4. I understand you will send me statements as soon as possible after your balance date at the end
of each month.
5. I authorise you to spend up to one week's rent on any one repair without reference to me.
Except in cases of emergency all other repairs must have my prior approval.
6. I authorise you to arrange new tenancies for the rental and bond as listed, or as I subsequently
agree to accept, and to sign on my behalf the Auckland District Law Society/Real Estate Institute of New
Zealand Inc tenancy agreement.
7. I require you to exercise reasonable care in the management of my property but I acknowledge
that you do not guarantee the rent or the condition of the property.
8. I have the authority of the other owners, if any, to make this appointment.
9. This authority may be terminated by either you or me at any time after ..................................... by
the giving of one week s notice.
10. I require you to make inspections at the end of each tenancy and otherwise at your discretion.
11. (Insert listing details here or in a schedule).
To: ........................................................................................................................................
I appoint you to act as my Agent to arrange rental accommodation for me. Should you introduce me to
any premises which are suitable and which leads to my taking a tenancy of the same premises, I
undertake to pay you your fee, (set out basis of fee here or in a schedule) notwithstanding that you may
also be engaged as the management agent by the landlord. You are authorised to use particulars of my
name and address and proper information concerning me for the purposes of advertising for and
arranging the tenancy. You have authority to obtain information about my creditworthiness from any
agency holding such information.
........................................................................................ Date: / / 20
(Signature)
PURCHASE AUTHORITY
To: .......................................................................................................................................
I hereby appoint you my Agent(s) for the purchase of the property specified in the schedule hereto, or if
no property be specified,[* or if the property specified cannot be acquired on a basis acceptable to me,
then another property designed to serve the same purpose, or the purpose mentioned in the schedule
hereto, and on terms no less advantageous to me than those mentioned in the schedule.] If any such
property is acquired by me, either alone or in conjunction with another or others, or by my nominee,
through your instrumentality (and whether on the basis mentioned in the schedule hereto or otherwise), I
will pay your fee plus GST. Provided always that should you without my written consent accept any
commission or remuneration from any owner, agent or other person in connection with the sale of any
property so acquired, no commission shall be payable by me hereunder. You are authorised to use
particulars of my name and address and any further particulars concerning me which might be
appropriate for the purposes of advertising for or negotiating for the purchase of the property I wish to
purchase.
Schedule
Property:
(If any specific property, give description)
(If no specific property, give particulars of requirements, purpose, locality, etc)
Price:
(Maximum unless otherwise stated)
Fees:
Terms:
(Cash on possession or as stated)
Other stipulations:
(eg whether vacant possession of whole property required, approximate date for settlement, etc)
Dated this day of 20
.................................................................................. Date: / / 20
(Purchaser s signature)
* This provision should be used only with caution.
......................................................................................... Date: / / 20
Signature of Owner or authorised signatory
........................................................................................ Date: / / 20
Signature of Agent or authorised signatory
NOTE:
This form allows for appointment of a Real Estate Agent to arrange for sale by auction or to sell
before or after the auction. A separate form of contract for sale at auction should also be
completed between the Auctioneer and the Vendor if the Agent is not also a Licensed Auctioneer.
Licensed auctioneers may wish to use the form provided by the Auctioneers Association of New
Zealand, modified so as to relate to the Real Estate Agent's marketing agreement.
Schedule
(include if particulars not in separate selling instructions signed by Owner)
Address of Owner:
Tel:
Address of Property:
Legal Description of Property:
Chattels included in sale (attach inventory if necessary)
Date of Auction:
Place of Auction:
Time of Auction:
Reserve price: $
or to be notified in writing prior to auction
Special Conditions of Sale:
Solicitor for Owner Tel:
Authorised disbursements (all net of GST)
Advertising cost $
Telephone, travelling & sundries $
Auctioneer's offering fee $
Other (describe) $
(Date)
(Name)
Licensed Auctioneer,
(Address)
Dear
Re:
I/We hereby authorise you to submit the above property to Public Auction on
I/We further request that I/We retain the right to change this Reserve Price during the Auction.
Yours faithfully
Terms of Settlement:
Note:
It is recommended that any alterations be initialled by the parties.
Please take notice that as from the date of delivery of this notice to you I give you
That I am cancelling your agency for the sale of my property. If you are currently working with any
prospective purchasers, please advise me of their names and the current state of any negotiations you
are conducting on my behalf.
I have appointed the agent named below as general/sole/exclusive agent. That agent is authorised to
deliver this notice to you.
Please remove any signs you have on my property and return any keys you have to me.
If you have any concerns about this notice please contact me within 24 hours of receipt, or I will regard
you as having accepted cancellation without reservation.
I acknowledge to the new agent named above that I am giving this notice relying on my own
judgment as to my right to cancel the prior agency, although you may have advised me as to the
options available to me and provided me with this form.
Alternatively the new agent may have this inserted in its agency contract.
................................................... ...................................................
Signature/s of owner/s
Date: / / 20
You can justify cancellation for cause, because the agent is not satisfactorily performing the agent's
obligations under the agency contract.
The agency contract has a cancellation period, which you will need to keep to, unless there has been a
serious breach of the agent's contractual responsibility to you.
If you cancel and appoint a new sole/exclusive agent, are you prepared to pay double commission if you
later accept an offer through the agent you are now giving notice to, or from a person originally
introduced by that agent.
If in doubt about your prior agency obligations you should consult your solicitor.