Avoid Missing Out On The Deal. How To Reserve a Property

Once you have done your research, it's time to reserve a property - to do this, you will use an Expression of Interest Form.

It's time to reserve a property, and take it off the market. This is where many first-time investors start to get cold feet.

Requesting a contract feels like a big move, and it is, but it’s important to understand that it’s not a binding commitment. It’s just the formal way to hold a property and initiate the legal process.

Every developer or agency will have its own method, but in general, the process is fairly uniform. At Thrive, ours is called the 'Expression of Interest'.

What is an Expression of Interest (EOI) Form?

The EOI form is essentially your formal request to receive a Sales and Purchase Agreement (S&P). Once submitted, this form:

• Gives you first right of refusal to sign for a particular unit
  

• Provides our contracts team with your personal/legal details to draft the contract
  

• Signals your intent to seriously explore the purchase
  

Importantly: filling out this form does not commit you to the purchase. It’s simply the first step toward entering your due diligence phase.

Why Acting Fast Matters

Many developments, especially those in prime locations or with sharp pricing, move quickly. If you hesitate too long before requesting a contract, someone else will beat you to it.

Once a unit goes under contract, it’s off the table.

That’s why experienced investors act decisively. They understand that requesting a contract gives them exclusive access to the unit for a short window of time, time that they control.

If the contract isn't signed within that window, the property goes back on the open market, and you’re back to square one.

What Happens After You Request the Contract?

Once you receive the contract (often within a few hours of submitting your EOI form), the countdown begins. You typically get 24 hours to:

• Review the agreement
  

• Get legal advice
  

• Decide whether to sign
  

If the agreement includes a due diligence clause (which it absolutely should), signing it triggers the due diligence period, usually 10 working days. This is your protected window to:

• Conduct deeper research
  

• Secure finance
  

• Perform a valuation (if needed)
  

• Get legal reviews
  

• Ask questions or raise concerns
  

The power is in your hands during this period. You can walk away for any reason, provided you do so within the agreed timeframe.

The GST Question: What Box Should You Tick?

One part of the EOI form that often trips people up is the GST section.

If you’re not registered for GST (which most residential investors aren’t), you’ll usually tick “Purchasing as an individual (not GST registered)”.

However, if you are GST registered and purchasing the property for business purposes (for example, as part of a commercial rental operation), then it’s a different scenario, and you’ll want legal and accounting advice before ticking anything.

Bottom line:

• If you’re unsure, don’t guess
  

• Talk to your advisor or accountant to confirm your GST status before submitting
  

Falsely claiming a GST status can create tax headaches down the road, so clarity here is essential.

What Does “And/or Nominee” Mean?

You might also notice that contracts sometimes include the phrase “and/or nominee” after your name.

This clause gives you the flexibility to nominate another person or entity to complete the purchase. For example, you might:

• Start the process as an individual but later decide to purchase through a trust or company
  

• Want flexibility if your finance structure changes during due diligence
  

Important caveat: Even if you sign under “and/or nominee,” you are still liable for the contract unless the developer accepts the nominee in writing. So again, have your lawyer check this.

But generally speaking, this clause gives you breathing room if you’re still finalising how you’ll structure the purchase.

Final Thoughts: Act Early, Then Do the Work

Hesitating to request a contract is one of the most common ways new investors miss out on excellent opportunities. It’s understandable, but also unnecessary.

The EOI and contract-request process is designed to empower you, not trap you. By requesting a contract, you take control of the property, giving yourself time to assess it thoroughly with the help of your legal and financial advisors.

Once the property is off the market, the ball is in your court.

And if you’re working with a trusted advisor, like the team at Thrive, you’re not navigating this process alone. You’ll have support at every step, from property selection through to settlement.

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How Can We Help You?

We help Kiwis build wealth through property investment. Our advisors will take the time to understand your individual needs and recommend suitable investment properties to help you build wealth and set up your retirement.

What Does This Look Like?

We use a 3-step process:

1. We start with a Discovery Meeting where we learn about you, your goals, etc., and you learn more about us.

2. This is followed by a Strategy Meeting where we model your retirement plan, understand key investment concepts, and briefly touch on some investment choices.

3. Finally, an Asset Selection Meeting where we discuss investment options in more detail and make any recommended adjustments based on what we now know about you.

Who Are We Right For?

We help people make smart investment choices and set up their futures. From first-time investors to experienced investors, we can cater to a wide range of people and help set up their futures through research-based property investment.

How Much Does It Cost?

Our advice is free to you! If you choose to invest, we’re paid by the property developer. This developer-paid model allows us to provide no-obligation property investment advice in New Zealand, without charging clients directly.

What Do We Do, And What Don't We Do?

What We Do

We offer end-to-end New Zealand property investment advice, helping Kiwi investors grow wealth through smart, data-led decisions. Our focus is on quality new builds in strong locations, tailored to your goals, guided by a team that knows the NZ market inside out.What We Don’t Do

We don’t do KiwiSaver, shares, cryptocurrency, or broad financial planning. Thrive is not a generalist firm. We specialise in property investment in New Zealand because that’s where we deliver the most value. By staying focused, we cut through the noise and help our clients make confident, well-informed property investment decisions.

How Do I Start?

Start the process now by booking a time to talk with our advisor by clicking here.