Buying off the Plans
When purchasing a property in New Zealand where the Code Compliance Certificate and Certificate of Title are yet to be issued, there are differences between the S&P agreement that is issued versus that of a completed/existing residential home.
So that customers don’t have to wait indefinitely for their new home to be completed, the Sale and Purchase Agreement includes a Date by which time, if the building has not obtained a Code Compliance Certificate or the title plan has not deposited, you are able to cancel your S&P Agreement and have your deposit refunded.
A specification and finishing schedule is included in the Sale and Purchase Agreement. This includes which appliances are supplied with each apartment. As materials may not be available at the time of completion or due to design development, the plans and details may be subject to change and variations on those terms and conditions set out in the S&P Agreement.