NZ Settlement Calculator
Calculate New Zealand property settlement costs for buyers and sellers — solicitor fees, LIM report, building inspection, agent commission. No stamp duty in NZ.
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Estimated Buyer Settlement Costs
NZ$3,635
0.5% of purchase price — no stamp duty in NZ
Solicitor / Conveyancer Fees
NZ$2,000
Title Search
NZ$35
LIM Report
NZ$400
Building Inspection
NZ$550
Valuation
NZ$650
Stamp Duty
$0 — NZ abolished in 1999
No stamp duty in New Zealand. Unlike Australia (up to 5%+) or the UK (SDLT), NZ buyers pay no government transfer tax — a significant saving on a NZ$750,000 purchase.
Solicitor Fees: $2,000
Building Inspection: $550
Valuation: $650
LIM Report: $400
Title Search: $35
Advanced
Advanced Calculator
Itemised buyer and seller costs, NZ vs AU/UK no stamp duty advantage, first home savings
Adjust each buyer cost to match your specific situation. Costs vary by property location, complexity, and provider.
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| Cost Item | Your Estimate | Typical Range | Mandatory? |
|---|---|---|---|
| Solicitor Fees | NZ$2,000 | $1,500 – $2,500 | Yes — required for settlement |
| Title Search (LINZ) | NZ$35 | $20 – $50 | Yes — confirms clear title |
| LIM Report | NZ$400 | $300 – $500 | Recommended — reveals council issues |
| Building Inspection | NZ$550 | $400 – $700 | Strongly recommended |
| Registered Valuation | NZ$650 | $500 – $800 | Required by most banks |
| Toxicology (P-test) | NZ$200 | $150 – $300 | Optional — increasingly common |
| Stamp Duty | NZ$0 | $0 | None — abolished in NZ 1999 |
| TOTAL | NZ$3,835 | Typical total: $3,000 – $5,000 | |
Pro
Professional Simulator
Settlement timeline, conditions management, statement of adjustments
Standard NZ settlement timeline from offer accepted to title transfer. Settlement typically occurs 5-15 working days after the agreement goes unconditional.
| Stage | Typical Timing | What Happens |
|---|---|---|
| Offer and Negotiation | Day 0-3 | Sale and Purchase Agreement signed. Agreement is conditional or unconditional. |
| Conditions Period | Days 1-15 | Buyer satisfies conditions: finance, building inspection, LIM, toxicology. Each condition has a specified due date. |
| Agreement Goes Unconditional | Day 5-15 | All conditions satisfied and waived. Contract is now binding on both parties. 10% deposit typically due within 3-5 working days. |
| Lawyer Preparation | 1-2 weeks before settlement | Lawyers prepare settlement documents, title searches, statement of adjustments, transfer instruments. |
| Pre-settlement Inspection | 1-2 days before settlement | Buyer inspects property to ensure it is in the agreed condition and chattels are present. |
| Settlement Day | Agreed date (usually 4-6 weeks after unconditional) | Buyer's bank transfers funds to seller's lawyer. Lawyer registers title transfer at LINZ. Keys released on registration. |
| Title Registered | Settlement day (or next day) | LINZ registers the title transfer. Buyer's name appears on the certificate of title. Possession typically at title registration. |
Possession vs title: In NZ, possession (when you get the keys) occurs at the time of title registration — typically noon or 4pm on settlement day. If the title registers late in the day, you may not get keys until the following morning. Clarify this with your lawyer in advance.
How to Use the NZ Settlement Calculator
Select whether you are the Buyer or Seller, enter the Property Price, and adjust individual cost items to match your situation. The calculator shows all NZ conveyancing and settlement costs itemised, with no stamp duty (NZ abolished transfer taxes in 1999). First home buyers will note the significant advantage vs Australia and the UK.
New Zealand Settlement Costs Explained
Buyer Costs at Settlement
New Zealand conveyancing costs for buyers are primarily professional fees — there is no government transfer tax. Typical buyer settlement costs total $3,000 to $5,000 on a standard residential purchase:
- Solicitor / Conveyancer fees: $1,500 to $2,500 — reviewing the Sale and Purchase Agreement, title searches, attending settlement, lodging the transfer.
- Title search (LINZ): $20 to $50 — official search of the property title at Land Information New Zealand.
- LIM report: $300 to $500 — Land Information Memorandum from the local council, showing building consents, hazards, drainage, zoning, and compliance history.
- Building inspection: $400 to $700 — licensed building inspector report on the property's physical condition.
- Registered valuation: $500 to $800 — required by most banks to confirm the property value supports the lending amount.
Seller Costs at Settlement
Seller costs are dominated by real estate agent commission, which in New Zealand is typically 2.5 to 4% of the sale price plus 15% GST:
- Agent commission: 2.5% to 4% of sale price plus 15% GST — negotiable, particularly for higher-value properties.
- Vendor marketing contribution: $500 to $3,000 — advertising on Trade Me, photography, signage, and marketing materials.
- Solicitor fees: $1,000 to $2,000 — reviewing offers, attending settlement.
- Mortgage discharge fee: $150 to $400 — bank fee to remove the mortgage from the title at settlement.
No Stamp Duty in New Zealand
New Zealand abolished property transfer taxes in 1999 — there is no equivalent of Australian stamp duty or UK Stamp Duty Land Tax (SDLT). On a $750,000 property, NZ buyers save approximately $30,000 vs NSW Australia and $22,000 vs the UK. This allows NZ first home buyers to direct more savings toward their deposit.
Example: Buying a $750,000 Home in Auckland
$750,000 Property — Auckland — First Home Buyer
| Purchase Price | $750,000 |
| Solicitor Fees | $2,000 |
| Title Search (LINZ) | $35 |
| LIM Report | $400 |
| Building Inspection | $550 |
| Registered Valuation | $650 |
| Stamp Duty (NZ) | $0 — abolished in 1999 |
| Total Buyer Settlement Costs | $3,635 |
| Equivalent NZ costs (NSW stamp duty would be) | ~$30,000 extra |
Frequently Asked Questions
A typical NZ settlement occurs 4-6 weeks after the agreement goes unconditional. The period from offer to unconditional is usually 5-15 working days while conditions (finance, building inspection, LIM) are satisfied. Once unconditional, settlement is usually 2-4 weeks away to allow both lawyers to prepare transfer documents and the buyer's bank to transfer funds.
A LIM (Land Information Memorandum) is a report from the local council that discloses all council records about the property — building consents and compliance, drainage, zoning, natural hazards (flooding, liquefaction, coastal erosion), rates owing, and other known issues. It is strongly recommended for all property purchases. A LIM is particularly important in NZ given the number of properties with earthquake damage, flood risk, or unconsented work. Cost: $300-$500 from the local council.
Chattels are moveable items included in the sale — typically curtains, blinds, fixed floor coverings, oven, dishwasher, and sometimes whiteware or outdoor furniture. The chattel list is negotiated in the Sale and Purchase Agreement. On the pre-settlement inspection, the buyer checks that all listed chattels are present and in working order. If chattels are missing or damaged, this must be resolved before settlement proceeds.
The Statement of Adjustments is a document prepared by the lawyers showing all financial adjustments between buyer and seller at settlement. Common adjustments include: property rates (apportioned from settlement date to rate year end), body corporate levies (for unit title properties), any outstanding rent if the property is tenanted, and any other prepaid expenses. The adjusted final settlement figure appears in this statement.
Keys are typically released once title registers at LINZ (Land Information New Zealand). This usually happens between noon and 4pm on settlement day, though it can be earlier or later depending on when funds transfer and how quickly LINZ processes the registration. It is common practice for both lawyers to agree a "settlement time" — often 3pm or 4pm. If registration happens late, you may receive the keys the following morning.