Receiving offers, counter offers, and multi-offer

Last updated: March 2026. Based on settled.govt.nz — Receiving and making counter offers. When you sell privately, you negotiate directly with buyers (there is no agent in the middle). If you use a licensed agent for any part of the sale, the REA can help with complaints you can’t resolve with the agency.

Offers must be in writing

An offer is presented on a sale and purchase agreement. Settled.govt.nz recommends having your lawyer or conveyancer check the agreement before you sign — it becomes legally binding once both parties have signed.

Your main options

• Accept — you sign; get legal advice first.
• Reject — you don’t have to explain why (though feedback can help buyers).
• Counter — negotiate price and/or conditions until you agree or talks end.

You do not have to accept the first offer. Negotiation can continue until you agree, reject, or the buyer withdraws.

Conditions

Except in a typical auction sale, buyers often make conditional offers (e.g. finance, building report, selling their own home). You can propose conditions too — for example a settlement date that lines up with a purchase you’re making. Your lawyer should review every condition before you sign.

Multi-offer

When more than one buyer submits a written offer, a multi-offer process may be used so interested parties can put forward their best offer. Settled.govt.nz explains that you are not required to accept the highest offer — you may accept one offer, reject all, or negotiate further. See also Understanding a multi-offer process (buyer-focused but describes the process).

Changing terms

If you and the buyer agree to changes, those changes should be recorded and initialled by both sides. Read every change before initialling; your lawyer or conveyancer should check the final document.

When you’re legally bound

Once price and conditions are agreed and both have signed, you have a binding contract. If the agreement is conditional, you work through conditions until it goes unconditional or lapses. After unconditional, most communication is between your lawyer and the buyer’s lawyer.

Private sale: deposits

With an agent, the deposit often goes to the agency trust account. When you sell privately, settled.govt.nz states your lawyer or conveyancer should hold the buyer’s deposit in their trust account until the sale is unconditional.

Offers from someone connected to an agent

If you do use an agent and the buyer is the agent or connected to them, settled.govt.nz sets out strict rules: written consent, independent registered valuation, and other protections. Seek independent legal advice in that situation.

General information only. Not legal advice. Your lawyer or conveyancer should advise on every offer.