The sale and purchase agreement

This a contract between you and the seller that sets out the details of the sale of the property. Proppy emails you the sale and purchase agreement for you to digitally sign. You can also download this from your "My Proppy Page. 

What is the deposit and how much?

The deposit is usually 10% of the purchase price and is considered an indication of your seriousness as a purchaser. When the contract goes unconditional you will be required to pay the deposit, which is deposited into Proppy's independent trust account. 

Your deposit may only be paid by:
1. Internet Banking - Direct Credit or
2. Cheque payable to: Public Trust o/a NZ Real Estate Trust

Payment to be made to:
Westpac Bank
Account Number: 03-0104-0186911-00

Account Name: Public Trust o/a NZ Real Estate Trust

Legal Information

Before you sign a sale and purchase agreement it’s wise to get your lawyer to look at it and typically your lawyer will handle the conveyancing when the property is settled. If you don’t have a lawyer, now would be a good time to find one. You can find more information about the legal side of buying property at the Property Law website (


You’re almost there. The date for settlement is agreed during the negotiation of the sale and purchase agreement. This is the day when you pay for the house, take possession and pop the bubbles!