1. Finance Condition
Gives you time to get formal loan approval from your bank or lender.
Even if you have pre-approval, most buyers still include a finance clause to protect themselves.
2. Building Inspection
Allows you to have a qualified building inspector check the property for any hidden issues.
Even in a competitive market or multi-offer situation, it’s strongly recommended you complete a building inspection.
Missing out on a property is better than buying one with costly surprises.
3. LIM Report Review
The LIM (Land Information Memorandum) provides important council information about the property, including consents, zoning, drainage, and any potential risks.
Reviewing it ensures you know exactly what you’re buying before you commit.
4. Title Search / Solicitor’s Approval
Your lawyer will review the property’s title to make sure there are no unexpected covenants, easements, or restrictions that could affect you.
This step helps avoid unpleasant surprises after settlement.
5. Sale of Existing Property
If you need to sell your current home before completing your purchase, you can include a condition making your offer subject to the sale (and sometimes settlement) of your existing property.
This protects you from being financially stretched between two homes.
Other conditions that sometimes apply (depending on the property):
- Methamphetamine (P) testing
- Specialist reports (e.g., drainage, geotechnical)
- Resource consent approvals (for land or building projects)