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Sale and purchase agreement

Test your knowledge of the sale and purchase agreement.

3-5 minutes

1. True or false: When you have signed a sale and purchase agreement you are bound to buy/sell the property (subject to any conditions included in the agreement).

Ka pai!

Er, not quite

A sale and purchase agreement is a legally binding contract between the seller and buyer.

It sets out all the details, terms and conditions of the sale.

2. True or false: The agent works for both the buyer and the seller during the sales process.

Ka pai!

Er, not quite

The agent works for and is paid by the seller of the property but has to treat the buyer fairly.

3. Should you get advice from a lawyer or conveyancer before signing a sale and purchase agreement?

Ka pai!

Er, not quite

A sale and purchase agreement is a legally binding contract, and we strongly recommend that you ask a lawyer or conveyancer to look it over before you sign it.

4. True or false: The buyer has to agree to everything the seller wants to put in the sale and purchase agreement.

Ka pai!

Er, not quite

You can negotiate with the other person about what goes into the sale and purchase agreement. The agreement is only final and binding when both sides agree to everything in the agreement.

5. All chattels that come with the property are listed on the sale & purchase agreement

Ka pai!

Er, not quite

Chattels are personal property that is not fixed to the property and can be removed without causing damage (e.g. stove, refrigerator, fixed floor coverings). A sale and purchase agreement includes a list of standard chattels. The list can be altered by the buyer or seller to include any chattels the parties agree to include in the property sale.

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Learn more about the sale and purchase agreement when buying 

Learn more about the sale and purchase agreement when selling