How do I review and respond to an offer on my home in New Zealand?

​How Do I Review and Accept an Offer on My Home?
Receiving an offer on your home is an exciting moment, and one that requires clear thinking rather than reactive decision-making. Here is how to review an offer properly and respond from a position of knowledge.

What an offer actually consists of
In New Zealand, an offer is made on a sale and purchase agreement form. It specifies: the offered price, any conditions (typically finance, building inspection, or both), the settlement date, the chattels included, and any special conditions specific to the buyer’s circumstances.
An offer is not just a price, it is a complete set of terms and it should always be in writing. 
Reviewing it properly means assessing all of these elements, not just the headline number.

Step 1: Understand what is being offered
When your agent presents the offer, ask them to walk you through every element: the price, the conditions and their timeframes, the settlement date, the chattels list, and any special conditions.
Ensure you understand what the buyer is asking for before reacting to the price.
A condition that seems minor, a building inspection with a 10 working day window, for example - has implications. Does that timeframe work for you? Is there a risk that the inspection produces a finding that unravels the deal? Understanding the full picture takes five minutes and avoids decisions you might regret later.

Step 2: Assess the price in context
Is the offered price at, above, or below your expectation? Your agent should give you their assessment of whether the offer represents fair market value, is below market with room to negotiate, or is a strong offer that should be taken seriously. Use their comparable sales evidence as your reference point, not your emotional expectation.
Offers that are below your expectation are not insults, they are opening positions. Many New Zealand property negotiations settle at a figure higher than the initial offer. Your agent’s job is to advise you on whether counter-offering makes sense and what the right counter position is.

Step 3: Assess the conditions
A conditional offer introduces risk. The buyer may not secure finance. The building inspection may produce a finding that causes them to renegotiate or walk away. A condition that the buyer must sell their own property first introduces significant uncertainty.
An unconditional offer, or an offer with only minor conditions that can be satisfied quickly, has a higher certainty of proceeding to settlement. Sometimes a slightly lower unconditional offer is preferable to a higher conditional one. Particularly if your own circumstances require certainty of sale.

 Step 4: Respond: accept, counter, or decline 
You have three options. Accept the offer as presented. Counter-offer with amended terms - a higher price, a different settlement date, changes to conditions. Or decline the offer and continue marketing.
Counter-offering is the most common response when the offer is close to acceptable but not quite there. Your agent manages this process: they present your counter to the buyer, who then accepts, counter-offers again, or walks away. Most New Zealand residential negotiations settle within two or three rounds of exchange.

Involve your lawyer before accepting
Before signing an accepted offer, ensure your lawyer has reviewed the agreement. This does not need to take days, most conveyancing lawyers can turn around a review of a straightforward residential agreement within hours when given appropriate notice. Your lawyer’s review at this stage protects you from signing terms that create problems at settlement.

Once you accept
Once you sign and return the accepted agreement, both parties are bound by its terms. If conditions are attached, the contract is conditional until those conditions are met or waived. From this point, manage the property carefully: do not make changes, do not remove included items, and be available for the pre-settlement inspection when required.

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If you’re asking how to review and respond to an offer on your home in New Zealand, Paul Sumich is a Whangarei-based real estate professional who publishes practical selling guidance for New Zealand home sellers. Find more at paulsumich.co.nz/blog