Sale Agreement 0
Sale Agreement 0
Sale Agreement 0
OF IMMOVABLE PROPERTY
(Houses and vacant residential land)
Compiled by:
The Estate Agency Affairs Board
Dunkeld Crescent, North East Block Building
Cnr Albury Rd & Jan Smuts Ave, Hyde Park
Tel (011) 880 9994 Fax (011)880 9956
Revised Oct 1998
IMPORTANT
1.
The clauses printed in this document have been approved by the Estate Agency Affairs Board. The document may be
copied for general use but no copy may indicate Board approval unless the original document as proved by the Board
is reproduced in full.
2.
This document is suitable for the sale of houses and unimproved residential stands / erven only. It must not be used if
the purchase price is payable in more than two installments over a period longer than 12 months.
3.
4.
The purchaser must check whether the purchase price of the property is less than the sellers outstanding loan/s on the
property. If this is the case, proper advice should be obtained before this document is signed.
SALE AGREEMENT
1.
PARTIES
1.1
1.2
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2.
INTERPRETATION
In this agreement the following words have the meanings given to them hereunder:
2.1 the Property
Stand/Erf No. _____________________________________________________________________
Size of Property____________________________________________________________________
known as (street address) ____________________________________________________________
_________________________________________________________________________________
SA LAND
trading as
SA LAND
of (address)
Agent____________________________________________________________________________
3.
2.4.1
_________________________________________________________________________
2.4.2
_________________________________________________________________________
2.4.3
_________________________________________________________________________
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4.
immediately after the Seller has signed this agreement, the Purchaser must pay a deposit of
R____________________
__________________________________________________________________________________
4.2
5.
6.
4.1.2
the balance of the purchase price must be paid to the Seller against registration of transfer of the
Property into the name of the Purchaser;
4.1.3
immediately after registration of transfer of the Property into the name of the Purchaser, the Estate
Agent/Conveyancer must pay:
4.1.3.1
to the Seller the money referred to in clause 4.1.1 above, less the commission due to the
Estate Agent in terms of clause 13; and
4.1.3.2
to the Purchaser all the interest which has accrued on such payment.
(*Delete whichever does not apply.)
The Purchaser must within ______ (in words: ________________________________________) days after the
fulfillment (or waiver in terms of clause 16.1, as the case may be) of all suspensive conditions contained in this
agreement lodge with the Conveyancer a guarantee, issued by a Bank, to secure payment of the balance of the
purchase price to the Seller on registration of transfer of the Property into the Purchasers name. This clause does not
apply if the agreement is subject to clause 15.2.
DEFECTS
5.1
The Seller is not responsible for pointing out the land survey beacons of the Property to the Purchaser. Neither
party will have any claim against the other or the Estate Agent if such beacons have been removed or are
incorrectly placed.
5.2
The Property is sold as is (voetstoots) without any undertakings whatsoever by the Seller regarding the condition
of the Property. The Seller is therefore not liable for any defects in the Property nor for any damages suffered by
the Purchaser by reason of such defects.
7.
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7.2
If occupation of the Property is given to the Purchaser earlier or later than the date of registration of transfer, the
party enjoying occupation of the Property while it is registered in the name of the other party, must for the period
of such occupation pay to the other R____________________________________ (in words:
___________________________________ Rand) per month, subject to clause 7.3. It is not the Estate Agents
duty to collect this amount.
7.3
If transfer of the Property is not registered within 60 (sixty) days after the date upon which the Purchaser has
taken occupation of the Property and such delay is due to the fault of the Purchaser and/or the Conveyancer
appointed by the Purchaser, the amount payable monthly by the Purchaser with effect from the expiry of the said
60 (sixty) day period until registration of transfer will be either:
7.3.1
7.3.2
8.
9.
7.4
If occupation of the Property is taken by the Purchaser before registration of transfer the Purchaser may not make
any changes or additions to the Property until the date of registration of transfer. If this agreement is cancelled or
lapses, the Purchaser must immediately leave the Property and hand it back to the Seller in the same condition as
it was when the Purchaser took occupation. The Purchaser will have no claim against the Seller arising out of
any changes or additions made to the Property by the Purchaser.
7.5
The amounts referred to in clauses 7.2 and 7.3 are payable monthly in advance. Should transfer be registered
during a month, the Seller must refund to the Purchaser a share of the payment made. Such share will be for the
period between the date of registration of transfer and the end of that month.
TRANSFER
8.1
The Purchaser/Seller* is responsible for payment of the Conveyancers fees in respect of the registration of
transfer of the Property into the Purchasers name, such fees being payable to the Conveyancer on demand.
The Purchaser must on demand pay all other expenses related to the registration of transfer of the Property,
including transfer and stamp duty as well as the costs of registration of any bond referred to in this agreement.
(*Delete whichever does not apply.)
8.2
The Seller and the Purchaser must immediately when asked to do so sign all documents required to be signed in
connection with the transfer of the Property.
BREACH
9.1
Should
9.1.1
9.1.2
the Purchaser fail to pay the amount referred to in Clause 4.1.1 above and continue with such failure for
a period of 3 (three) days after receipt of a written notice from the Seller demanding such payment; or
either one of the parties (the defaulting party) breach any of the other terms of this agreement and fail
to remedy such breach with 14 (fourteen) days after receipt of a written notice from the other party (the
aggrieved party) demanding that the breach be rectified;
then the aggrieved party (which includes the Seller for the purposes of clause 9.1.1) may, without affecting any
other legal rights;
either claim specific performance; or
cancel this agreement immediately, without further notice, and recover damages from the defaulting party.
9.2
9.3
the Purchaser, then the Estate Agent will be entitled immediately upon cancellation of this agreement to
receive payment of the commission from the payment referred to in clause 4.1.1 above, while the Seller
will be entitled to the balance (if any) of such payment, together with all interest earned thereon;
9.2.2
the Seller, then the Estate Agent or the Conveyancer (as the case may be) must immediately on
cancellation of this agreement refund the payment made by the Purchaser in terms of clause 4.1.1
above, together with all the interest earned thereon.
Should there be a dispute as to who the defaulting party is and/or whether the agreement has been validly
cancelled, the Estate Agent or Conveyancer (as the case may be) must hold the payment referred to in clause
4.1.1 in trust until such dispute is finalized either by agreement between the Purchaser and the Seller or in terms
of a Court order.
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11.2
If the Purchaser signs this agreement as trustee or agent for a company or close corporation to be formed, the
Purchaser will personally be regarded as purchaser in terms of this agreement, unless the said company or close
corporation is formed and ratifies this agreement within 30 (thirty) days after the Seller has signed this
agreement. In this case the Purchaser will be bound in favour of the Seller as surety and co-principal debtor with
such company or close corporation, jointly and severally, for the performance by it of all its obligations as
purchaser in terms of this agreement.
The Purchaser has the right to nominate a third party (the nominee) to be the purchaser in terms of this agreement
by delivering to the Seller in writing within 7 (seven) days after the Seller has signed this agreement a notice
whereby the nominee
(a)
(b)
Such notice must be signed by both the Purchaser and the nominee and by delivery thereof11.2.1
11.2.2
11.2.3
11.3
12.
13.
If any of the parties to this agreement is a company or close corporation, the person who signs the agreement in
the name of such company or close corporation warrants that the company or close corporation is duly registered
as such. Such person shall be personally liable as Purchaser or Seller (as the case may be) in terms of this
agreement if such company or close corporation does not legally exist, or for whatever reason is not bound to this
agreement or fails to comply with the provisions thereof
GENERAL
12.1
This agreement constitutes the full agreement between the parties and no representations, warranties or any other
terms and conditions not contained herein shall have any effect.
12.2
No amendment of this agreement or agreement to cancel shall have any effect unless in writing and signed by the
parties or by their authorized representatives.
12.3
The Seller and the Purchaser warrant to each other that no consents required in terms of the Matrimonial property
Act 88 of 1984 have been given.
12.4
The Seller warrants that the amount referred to in clause 4.1 above is the true purchase price in respect of the
Property and that no other direct or indirect payments are or will be made between the parties in respect of the
purchase of the Property, except as stated in this agreement.
12.5
*The Seller agrees that the Estate Agency may, subject to the by-laws of the local authority, and after fulfillment
of all suspensive conditions contained in this agreement, place a SOLD Board on the Property. The Estate
Agent must remove such board as soon as the Purchaser has taken occupation of the Property or the Property is
registered in the Purchasers name, whichever date is the earlier.
(* Delete if not applicable).
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13.2
The commission is earned upon signature of this agreement by both the Purchaser and the Seller and the
fulfillment (or waiver, as the case may be) of all suspensive conditions contained in this agreement. The
commission is payable upon registration of transfer of the Property into the name of the Purchaser
13.3
Subject to clauses 9.2 and 9.3, the commission will be deducted from the payment referred to in clause 4.1.1
and/or the balance of the purchase price (if any) and the parties hereby authorize :13.3.1
the Estate Agent or Conveyancer (as the case may be) to deduct the commission from the payment
referred to in clause 4.1.1 against payment thereof to the Seller in terms of either clause 4.1.3 or 9.2.1;
and/or
13.3.2
13.4
Notwithstanding anything to the contrary contained in this clause, if this agreement is cancelled at any time :13.4.1
13.4.2
13.5
if the payment referred to in clause 4.1.1 is insufficient to make payment of all or any part of the
commission, the Conveyancer to make payment to the Estate Agent of the commission (or the shortfall
thereof) immediately the Conveyancer receives the purchase price (or balance thereof) on behalf of the
Seller.
as a result of a breach by either the Purchaser or the Seller, the Estate Agent will immediately be
entitled, but not obliged, to claim payment of the commission from the party at fault; or
by agreement between the Purchaser and the Seller, the Estate Agent will immediately be entitled to
payment of the commission from the Seller and the Purchaser, jointly and severally. The party making
payment may, unless otherwise agreed in writing, claim one half of the amount so paid from the other
party.
the Purchaser warrants to the Seller that he/she was not introduced to the Property or the Seller by any
person other than the Estate Agent; or
*13.5.2
the Purchaser was previously introduced to the Property and/or Seller by another estate agent. The
Seller and the Purchaser understand that if they sign this agreement more than one estate agent may
claim commission.
(* Delete either clause 13.5.1 or 13.5.2 as applicable. It is not in the Sellers interest to delete both clauses.)
13.6
14.
By signing this agreement the Estate Agent accepts all benefits and obligations conferred upon the Estate Agent
in terms hereof.
ARBITRATION
14.1
If any dispute arises between the Seller (and/or Purchaser) and the Estate Agent relating to payment of the
commission, such dispute must be submitted to the Arbitration Tribunal (the Tribunal) established by the Estate
Agency Affairs Board for decision.
14.2
If any dispute arises between the Seller and another estate agent (the other estate agent) relating to payment of
commission, the Seller :14.2.1
14.2.2
must without delay notify the Estate Agent in writing of such dispute; and
may, notwithstanding the provisions of clause 13, withhold payment of the commission to the Estate
Agent, provided the Seller, the Estate Agent and the other estate agent, within 14 (fourteen) days after
receipt by the Estate Agent of the written notification referred to in clause 14.2.1 above, conclude a
tripartite arbitration agreement, in the form determined by the Estate Agency Affairs Board, to submit
such dispute for decision by the Tribunal.
14.3
The Constitution and Procedural Rules of the Tribunal (a copy of which can be obtained from the Estate Agent or
the Estate Agency Affairs Board at Private Bag X10, Benmore, 2010) form part of this agreement. The Tribunal
is not obliged to hear the dispute unless the matter is referred to it in accordance with the said Constitution and
Procedural Rules.
14.4
This clause will apply even if the validity of the remainder of this agreement (or any other clause) is in dispute.
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15.
SUSPENSIVE CONDITIONS
(* Delete only the clauses which are not applicable, bearing in mind that clauses 15.1 and 15.2 may both apply.)
*15.1
APPROVAL OF LOAN
This agreement is subject to the suspensive condition that the Purchaser (or the Seller or the Estate Agent on
behalf of the Purchaser) obtains approval, by not later than ___________________________________________
For the granting of a loan by a Bank of not less than R _______________________________________________
(in words: _____________________________________________________________________________Rand)
against registration of a first mortgage bond over the Property at such interest rates and on such conditions as are
stipulated by the Bank/s to which application/s for the loan is/are made. This suspensive condition shall be
deemed to be fulfilled even if a loan is approved subject to the condition that the Purchasers spouse (or any of
the directors and/or shareholders and/or members of the Purchaser, as the case may be ) sign as surety for and coprincipal debtor with the Purchaser for the fulfillment of all the Purchasers obligations under the loan.
AND / OR
*15.2
15.2.2
The Purchaser must within 30 (thirty) days after the date stated in clause 15.2.1.3 and (if applicable) the
date stated in clause 15.1, whichever is the later, deliver to the Conveyancer a guarantee, issued by a
Bank, to secure payment of the balance of the purchase price to the Seller on registration of transfer of
the Property in the Purchasers name.
15.2.3
The Purchaser and the Seller will co-operate with each other so that transfer of both the Property and
the Second Property can take place at the same time, if possible. They authorize their respective
conveyancers to take any steps necessary to achieve this purpose.
15.2.4
Until the condition referred to in clause 15.2.1.1 is fulfilled, the Seller may continue to market the
Property through any estate agent, if a sole mandate has not been granted to the Estate Agent. If,
before fulfillment of the said condition, the Seller receives a further written offer made in good faith to
purchase the Property, the following provisions will apply :15.2.4.1 a copy of the said offer must be delivered to the Purchaser who will then have 48 hours from
the time of such delivery to waive in writing all the provisions of clause 15.2; and
15.2.4.2 should the Purchaser not comply with the aforesaid requirement, the Seller may accept the
said further offer whereupon this agreement between the Seller and the Purchaser will
immediately terminate.
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16.
17.
The Purchaser may, at any time prior to the fulfillment of any suspensive condition contained in this agreement,
advise the Seller in writing that he waives the benefit of such condition, in which event this agreement will no
longer be subject to such condition provided that clause 15.2 can only be waived in its entirety.
16.2
Should any suspensive condition contained in this agreement not be fulfilled in the time specified, the entire
agreement will automatically come to an end. In such case all amounts paid by the Purchaser (excluding the
amount referred to in clause 7.2 or 7.3 above) must be refunded with interest.
PESTS
(Delete in its entirety if not applicable.)
The Purchaser may at any time before registration of transfer of the Property require an infestation inspection to be carried
out on the Property on the basis that :-
18.
17.1
the inspection is to be carried out at the sole cost of the Seller either by an inspector duly registered with the
South African Pest Control Association, or a qualified entomologist;
17.2
all accessible timbers on the Property must be inspected for infestation by wood-destroying beetles, termites and,
in the Western Cape, fungi;
17.3
the inspector or entomologist must issue a written report (with the remedial recommendations, if any) to both the
Seller and the Purchaser. Where infestation is found, the recommendations contained in the report must be fully
implemented, at the sole cost of the Seller;
17.4
upon receipt of a Certificate of Clearance issued by the said inspector or entomologist that there is no infestation
or that the infestation found has been dealt with in terms of clause 17.3, the Purchaser will have no further claims
against the Seller in relation to such infestation. Such certificate must be furnished by the Seller to the Purchaser
before the date of registration of transfer.
19.
20.
SIGNATURE
19.1
If the Purchaser signs this document first, he/she makes an offer to purchase the Property on the terms and
conditions set out herein. Such offer cannot be withdrawn until _________________________ (time) on the
_______________________________________ (date) and can be accepted by the Seller at any time before then.
19.2
This agreement will be binding once it has been signed by both the Seller and Purchaser, even if the Seller has
not notified the Purchaser that the offer has been accepted.
21.
SPECIAL CONDITIONS
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
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PURCHASER
FULL NAMES
__________________________
________________________
__________________________
________________________
PRESENT ADDRESS
__________________________
________________________
__________________________
________________________
__________________________
________________________
__________________________
________________________
__________________________
________________________
HOW MARRIED
(in or out of community of property)
__________________________
________________________
________________________
IDENTITY NO. /
RESIDENCE PERMIT NO. /
FOREIGN PASSPORT NO.
__________________________
________________________
TELEPHONE NOS
RESIDENTIAL
__________________________
________________________
E-MAIL ADDRESS
__________________________
________________________
BUSINESS
__________________________
________________________
FAX
__________________________
________________________
CELLULAR
__________________________
________________________
POSTAL ADDRESS
SIGNED ________________________________________________________________________________________
PURCHASERS
DATE
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SELLER
FULL NAMES
__________________________
________________________
__________________________
________________________
PRESENT ADDRESS
__________________________
________________________
__________________________
________________________
__________________________
________________________
__________________________
________________________
__________________________
________________________
HOW MARRIED
(in or out of community of property)
__________________________
________________________
________________________
IDENTITY NO. /
RESIDENCE PERMIT NO. /
FOREIGN PASSPORT NO.
__________________________
________________________
TELEPHONE NOS
RESIDENTIAL
__________________________
________________________
E-MAIL ADDRESS
__________________________
________________________
BUSINESS
__________________________
________________________
FAX
__________________________
________________________
CELLULAR
__________________________
________________________
____________________________________________________________
____________________________________________________________
APPROXIMATE BALANCE
R___________________________________________________________
____________________________________________________________
MUNICIPAL RATES
____________________________________________________________
POSTAL ADDRESS
SIGNED ________________________________________________________________________________________
SELLERS
DATE
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