21/04/2026
🏡 𝗦𝗮𝗹𝗲 & 𝗣𝘂𝗿𝗰𝗵𝗮𝘀𝗲 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝘀𝘁𝗮𝗿𝘁 𝘁𝗼𝗱𝗮𝘆
From today (Tuesday, 21 April 2026), updates to the NZ Sale & Purchase Agreement for buying and selling homes are now in place. While part of this aligns with new privacy requirements (more relevant behind the scenes), there are a few important changes worth understanding…
𝟭. 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗖𝗹𝗮𝘂𝘀𝗲 (𝗕𝗶𝗴 𝗖𝗵𝗮𝗻𝗴𝗲 𝗳𝗼𝗿 𝗕𝘂𝘆𝗲𝗿𝘀)
If a purchaser cancels because finance cannot be obtained, they must now provide a reasonable explanation — along with evidence of the steps taken to secure lending. Previously, this was based on a “satisfactory finance” test — meaning buyers could decide finance wasn’t suitable for them, even if it was offered (for example, due to rates or conditions).
𝟮. 𝗡𝗲𝘄 𝗩𝗲𝗻𝗱𝗼𝗿 𝗪𝗮𝗿𝗿𝗮𝗻𝘁𝘆 (𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗳𝗼𝗿 𝗦𝗲𝗹𝗹𝗲𝗿𝘀)
If any restricted building work under the Building Act has been completed on the property on or after 13 March 2012, vendors must now warrant that the work was carried out or supervised by a suitably qualified professional
𝟯. 𝗧𝗶𝘁𝗹𝗲 & 𝗕𝗼𝘂𝗻𝗱𝗮𝗿𝗶𝗲𝘀 (𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗳𝗼𝗿 𝗕𝘂𝘆𝗲𝗿𝘀 & 𝗦𝗲𝗹𝗹𝗲𝗿𝘀)
This is something I’ve seen firsthand recently, where a title boundary dispute created unexpected stress for a buyer due to a lack of clear disclosure. The update clarifies buyers’ cancellation rights around title issues, while preserving their ability to waive objections at any time before cancellation. This means more flexibility for buyers to either move forward or walk away, depending on whether an issue is a deal-breaker — reducing uncertainty during the process.
For full list of the updates, including changes to unit titles, chattel lists, pet bonds and more visit:https://thelawassociation.nz/wp-content/uploads/2026/03/Release-Notification.pdf
Remember to seek legal advice to understand how this may apply to your situation.
Feel free to reach out if you have any questions
Monarch Real Estate Limited Licensed Agent REAA 2008
