The First-Home Buyer's Legal Checklist for Hawke's Bay

• The most important step is to engage a property lawyer before you look at houses or sign any documents.
• Your Sale and Purchase Agreement is a binding contract; it must include protective conditions for finance, a LIM report, and a building inspection.
• To avoid stressful delays, you must apply for your KiwiSaver withdrawal at least 15-20 working days before your settlement date.
• The pre-settlement inspection is your final opportunity to confirm the property is in the agreed condition before you take ownership.

Buying your first home is a huge milestone. It’s exciting, a little terrifying, and probably the biggest financial step you’ve ever taken.

The numbers show just how many Kiwis are in your shoes. Nationally, first home buyers now account for a record 27.7% of all property purchases. The median price paid by a first home buyer in New Zealand this year is $700,000. That’s a life-changing amount of money, and when the stakes are that high, getting the legal process right is everything.

As a firm that has helped countless people into their first homes, we’ve seen what works and what can go wrong. Think of us as your guide. This is our practical, step-by-step legal checklist to get you from dreaming about a home to holding the keys, with confidence and peace of mind.

The work you do before you even start scrolling through listings will set you up for success. Rushing this stage is a common mistake we see that often leads to stress and disappointment later on.

Engage a property lawyer early

This is, without a doubt, the most important first step. Before you talk to an agent, before you fall in love with a property, talk to a lawyer. We are your independent adviser, here to protect your interests - we only work for you.

Having an expert on your side from day one means you can get advice on the structure of your purchase, understand your obligations, and have someone ready to review an agreement before you sign it. At DK Legal, our team specialise in making the conveyancing process clear and straightforward, reducing the risks involved in the transaction.

Get your finance and budget sorted

You can’t shop with confidence if you don’t know your budget. Getting pre-approval from your bank or a mortgage adviser tells you exactly how much you can spend. It also makes your offer much more attractive to a seller.

Most banks look for a 20% deposit, but don't be discouraged if you're not there yet. Schemes like Kāinga Ora’s First Home Loan can allow you to buy with as little as a 5% deposit-know/).. Knowing your exact financial position is critical.

You’ve found the one. Now it’s time to make an offer. This is where having a property law expert on your team becomes invaluable.

Understand the Agreement for Sale and Purchase

The Agreement for Sale and Purchase is a legally binding contract the moment both you and the seller have signed it. There is no cooling-off period. In our experience, this is the single most critical moment to pause and get legal advice. We can review the agreement to ensure the title is sound, the clauses are fair, and there are no hidden fishhooks that could cost you dearly.

We’ll check everything from the settlement date to the list of chattels (like the oven, curtains, and heat pump) to make sure what you think you’re buying is what the contract says you’re buying.

Build in your conditions (your safety net)

A conditional offer gives you a safety net. It means your offer to purchase the property is subject to certain conditions being met. If they aren't, you can walk away from the deal without penalty. For a first home buyer, these are non-negotiable.

• Finance Condition: This gives you time to get final, unconditional approval for your home loan from the lender. Unless you’re a cash buyer, this is essential.
• LIM Report: A Land Information Memorandum (LIM) is a report from the local council. We review it for you to check for issues like building consents, public drainage, potential erosion or flooding risks, and any notices that affect the property.
• Building Report: Always get a registered builder to conduct a thorough inspection of the property. They check for structural integrity, weather-tightness issues, and other potential defects that could turn your dream home into a nightmare.

Depending on the property, we might also recommend other conditions, like a toxicology report to check for methamphetamine contamination.

Once your conditions are satisfied, the contract becomes unconditional. The property is officially yours, pending settlement. Now, the focus shifts to the final administrative steps.

Managing your KiwiSaver withdrawal

For most first home buyers, KiwiSaver is the key to their deposit. The process is straightforward, but the timing is critical. As of 2025, the old First Home Grant is gone, so the withdrawal is the main support available. To be eligible, you need to have been a contributing member for at least three years.

You can withdraw all of your savings except for $1,000. The crucial part? You must apply through your provider at least 10 to 15 working days before settlement day, or should you be using your KiwiSaver to contribute towards the Agreement for Sale and Purchase deposit, you’ll need a finance condition of at least 10 to 15 working days.

Your KiwiSaver funds are paid directly to your lawyer’s trust account to form part of the purchase price. We manage this process for you to ensure the money arrives on time when it is required.

Do a proper pre-settlement inspection

In the few days before settlement, you have the right to inspect the property one last time. This isn’t a chance to renegotiate the price or look for new flaws. The purpose is to confirm the property is in the same condition as when you signed the agreement.

You need to check that all the chattels are still there and in working order, that the seller has moved out, and that no new damage has occurred during the move. If you had agreed on any repairs being done, this is your chance to check they’ve been completed. If you find a problem, you must contact us immediately. For a full rundown, you can read our detailed pre-settlement inspection checklist.

This is the day you’ve been waiting for. Behind the scenes, we’re busy making it happen.

What happens on settlement day?

On settlement day, we coordinate the flow of money. We receive the loan funds from your bank and combine them with your contribution (including your KiwiSaver funds if not already used for your agreement deposit). We then transfer the required funds to the seller’s lawyer. Once they confirm receipt, they authorise the real estate agent to release the keys to you. Congratulations, you’re a homeowner!

A quick note on costs

The cost of conveyancing (the legal work for a property transaction) can vary depending on the complexity of the purchase. Is it a standard residential home, a cross-lease, or a unit title? Each requires a different amount of work. What we can promise is transparency. As we explain in our guide, we will provide a clear cost breakdown and fee estimate right from the start, so there are no surprises.

Don't forget your Will

Now that you own a significant asset, it is absolutely vital to have an up-to-date Will. It ensures that if anything happens to you, your property goes to the people you choose. It’s a simple step that provides huge peace of mind for you and your loved ones. As part of our service, we can help you prepare this.

Buying your first home is a journey, not a single transaction. Our job is to take the legal weight off your shoulders so you can focus on the excitement of finding your perfect place. If you’re ready to take the first step, contact our friendly, approachable team of property law specialists today.

_Disclaimer: The information contained in this article is for general guidance and informational purposes only. It is not a substitute for professional legal advice. You should not act on the basis of this information without first seeking specific advice from a qualified professional.