Selling NZ property: from listing to settlement
The usual order of steps from deciding to sell to money in your account.
- Before listing: choose a method of sale, agree a price you will accept, and read the listing authority carefully.
- Tidying and good photos matter; ask your agent what costs apply and who pays.
- Offers can be conditional on finance, LIM, a builder's report and lawyer approval;What does LIM mean?A LIM (land information memorandum) is a report from the local council about the property, such as its rates and what the council's records hold on it. settled.govt.nz (Te Kāhui Kāinga Ora / REA): Understanding the sale and purchase agreementWhat does Building report mean?A building report is a written check of the property by an accredited inspector that lists any defects; settled.govt.nz suggests one that meets the standard NZS 4306:2005. settled.govt.nz (Te Kāhui Kāinga Ora / REA): Learning about the property compare them on certainty, not just price.
- Once unconditional, you are both committed; rates and insurance are sorted out in the settlement statement.What does Settlement mean?Settlement day is the day you pay the balance of the purchase price and the property becomes yours. settled.govt.nz (Te Kāhui Kāinga Ora / REA): Settling on settlement day
- On settlement day your lawyer pays out any mortgage and sends you the balance.
Check the details. Your lawyer explains the contract and settlement; Inland Revenue or your accountant for any tax on the sale.
Official pages
Shortened from a Berry article first written 2026-05-03. Figures we could not check against a public source were taken out. This is general information, not advice.