Changes to an Agreement for Sale and Purchase after execution – some points to note

Often after an Agreement for Sale and Purchase is signed further negotiations are carried out between the Vendor, Purchaser and Agent.

It is worthwhile noting that such negotiations do not make the current Agreement invalid.  They also do not generally mean that a new Agreement and/or a Variation of an Agreement need be entered into.

The most common changes to an Agreement are as follows:

1. the deposit amount;
2. the settlement date;
3. requirements for Vendor to remedy issues raised by builder’s inspections;
4. early possession; and/or
5. personal rental arrangements between Vendor and Purchaser.

If you assist the Vendor and Purchaser with negotiating any changes to the Agreement after execution please advise the Vendor’s and the Purchaser’s legal representatives as soon as practicable.  The legal representatives can then record the agreed changes to the Agreement by way of an exchange of written communications. 

In some circumstances a Vendor or Purchaser’s legal representative may insist on a replacement Agreement for Sale and Purchase.  If this occurs, it is vital that the earlier Agreement for Sale and Purchase is properly cancelled.

Laurie Pallett
Registered Legal Executive
Wellington