The Buyers Guide to filling out and submitting a Tender
Check list for filling out Tender form where the
“Particulars and Conditions of Sale of Real Estate by Tender Third Edition 2011(2) is used
First read the “New Zealand Residential Property Sale and Purchase Agreements Guide”
which can be found on our website at www.whangaproperty.co.nz
Using the tender offer form “Sale of Real Estate by Tender”
- On the front page of the agreement at the bottom right hand corner of the page, put your initials and do this to every page on the agreement.
- Before making this offer you need to be sure that you are eligible to buy this property according to the Overseas Investment Act 2005. If you are an overseas visitor and not a New Zealand resident or New Zealand born then you need to check your status with this Act. Generally if you do not have a NZ passport and the property being purchased is greater that 2.5ha then this may apply to you. Talk to the marketing agent if you are not sure.
- Be sure to read the entire document especially including:
Conditions of sale 1.1 through to Conduct of tender 2.11. and the “further terms of sale”
- Initial the bottom of every page of the general conditions and the further Terms of Sale
- Making your offer:” Memorandum of contract”
- Fill in your full name including middle names,(where it says PURCHASERS NAME” you can ad “or nominee” after your name if you wish to change the purchaser after the sale is completed. Also write here your physical and postal address
- For example: Ronald Tyrone Smith (or nominee) of 232 Wakefield Drive Hamilton.
- Fill in the price you are offering clearly. In numbers. (this price includes gst if any)
- Sign your normal full signature where it says “Signature of Purchaser”
- Fill in your details on the Gst page Schedule 1.
- The gst page is about whether you will be claiming gst on your purchase. If your not (for the purpose of this transaction) nor is a nominee you which to transfer ownership to, then say no to question 3. If in doubt seek advice from your accountant.
- Back page:
Fill in your solicitors details.
Fill in your postal address and contact numbers ( be sure to supply a number where the agent can contact you after the tenders close date
Submitting the tender:
- Post your tender in a sealed envelope to
Whangamata First National PO Box 148 Whangamata Marked “Tender” and the address of the property.
- Transmit your tender by email to email@example.com (it’s a confidential email address for the company owner.
- Fax your tender (all pages) to 07 865 7490, please arrange prior to faxing to have a salesperson catch your fax directly off the machine to keep it confidential.
Include all pages and consent forms.
- Your deposit should be $25,000, you can submit a bank check with your tender (preferred) or deposit the funds into our Trust Account see trust account details enclosed with the information pack provided. We’d prefer a bank cheque if possible.
Best of luck with your offer.
You will be notified immediately of the outcome of the tender (as soon as it is known) providing we have your contact details correctly filled out on the tender, notification in the first instance is communicated confidentially to the salesperson or agent involved.
Tenderers are generally notified of the outcome before it is made public.
Be aware the vendor may hold all offers for the specified time before releasing a decision.