Buying or selling a property is a complex legal process and is probably the biggest financial transaction you’ll be involved in. It’s essential you find out as much as possible about the process before you begin.
Buyers and sellers guide
This guide provides buyers and sellers with information on key things they should know about the buying and selling process, what to expect from the real estate agent and the different methods of buying or selling.
Buyers and sellers guide - Get smart before buying and selling property (.pdf 692 KB)
What you need to know about buying or selling a property
Get independent legal advice
Get your own independent legal advice. The value of a property transaction is significant and so is the potential cost if it goes wrong. Remember, agency agreements and sale and purchase agreements are legally binding contracts.
Read and understand agreements before you sign them
Read and understand agency agreements and sale and purchase agreements before you sign them. And don’t forget you can negotiate the terms and conditions.
We publish guides to these important legally binding contracts. Agents must give you a copy of the relevant guide before sellers sign an agency agreement, and before buyers and sellers sign a sale and purchase agreement. We recommend reading the guides before meeting with agents.
Read the Agency Agreement Guide (.pdf 547KB)
Read the Sale and Purchase Agreement Guide (.pdf 551KB)
Find out about your agent
You can search our online public register of licensed real estate agents to see if the agent you are working with is licensed and whether they have had any complaints upheld against them.
Contact us if you have a problem with an agent
We are responsible for dealing with complaints about the behaviour of agents and we run an independent, fair and open complaint process. Read more about making a complaint.
What you need to know if you’re buying
Remember that the agent works for the seller, not you. However, they must still treat you fairly.
Do your own research about the property
You can ask the agent anything you want to know about the property and they can’t withhold anything they know. However, you shouldn’t rely only on their information and you should do your own research. Consider getting a property inspection report, Land Information Memorandum (LIM), and a title search.
Depending on the property, other things to consider getting checked out are weather tightness issues, possible methamphetamine contamination, the condition of plumbing and wiring etc.
There may be tax implications if you buy and sell a property within two years. You can talk to your lawyer about any tax obligations or find out more at the Inland Revenue website.
Read more about what you need to know