| 1. |
Sale Of
Property |
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Subject to the terms and
conditions contained herein, the Seller hereby sells to the
Purchaser who hereby purchases the following property: |
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| (a) |
Section
no_______ in the building or buildings known
as_______________________ being__________ number . |
| (b) |
An
undivided share in the common property in the scheme
apportioned to the said section in accordance with the
participation quota as endorsed on the said Sectional
Plan. |
| (c) |
An exclusive
use area described as_____________________________ no.
Included in the sale of
the property are the movable assets reflected in
annexure "A" hereto. |
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| 2. |
Purchase Price
And Guarentees |
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| 2.1 |
The
purchase price of the property shall be R_____________
which price shall be payable by the Purchaser to the
Seller on registration of transfer, for which payment
the Purchaser shall provide the Seller with cash or a
Guarantee approved by the Seller on request, save that
request shall not be made prior to the fulfillment of
the suspensive conditions contained herein. Should the
purchase price or any part thereof be paid in cash by
the Purchaser prior to date of transfer, then and in
that event, the Purchaser expressly authorises the
Seller's conveyancer to invest same on his behalf in
an interest bearing trust account.
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| 2.2 |
On
registration of transfer of the property into the name
of the Purchaser, the Seller's Conveyancers are
irrevocably authorised to make payment of the
commission due under this agreement and shall refund
the Purchaser all interest which has accrued on any
monies held in trust.
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| 3. |
Acknowledgements
by Purchaser |
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The
Purchaser acknowledges that: |
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| 3.1 |
he
has acquainted himself with the nature, condition,
extent and locality of the Property and he will have
no claim whatsoever against the Seller for any
deficiency in the size of the property and
|
| 3.2 |
the
property is sold to the extent as it now lies, "voetstoots",
without any warranties whether express or implied and
the Seller shall not be liable for any defects whether
latent or otherwise in the Property nor for any
damages suffered by the Purchaser by reason of such
defects and subject to all the servitudes, other real
rights and conditions, if any, burdening or benefiting
the land or the common property, in terms of the
seller's Title Deed and prior Title Deeds and
Sectional Plans and in terms of The Rules of the Body
Corporate or as conditions imposed by the Developer
Local Authority or Administrator.
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| 3.3 |
no representations have
been made by either the Seller or any party acting on
behalf of the Seller save those contained herein.
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| 4. |
Risk and
ownership |
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With effect from
the date of registration of transfer:- |
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| 4.1 |
all the
benefits and risks of ownership of the property shall
pass to the Purchaser; and |
| 4.2 |
the
Purchaser shall be entitled to the rents (if any)
payable in respect of the property; and
|
| 4.3 |
the Seller shall become
liable for and forthwith refund the Purchaser the
rents (if any) paid in respect of any period after the
said date.
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|
| 5. |
Occupation
And Occupational Interest |
|
| 5.1 |
It is
hereby agreed that occupation of the property shall be
given to the Purchaser on ________________ on which
date the purchaser shall take occupation thereof. |
| 5.2 |
If
the date upon which occupation of the property is
given to the Purchaser does not coincide with the date
of registration of transfer, the party enjoying
occupation of the property while it is registered in
the name of the other party, shall in consideration of
such occupation and for the period of such occupation,
pay to the other party occupational interest of
R_____________ per month. Should registration of
transfer not be effected by ____________, then and in
that event the occupational interest shall increase to
R __________ per month from the said date to date of
registration of transfer. The said occupational interest shall be
paid to the Seller's Conveyancers. |
| 5.3 |
In
additional to the aforesaid occupational interest, the
Purchaser shall be liable for all levies or
other charges imposed upon the property by the body
corporate or like body from date of occupation. |
| 5.4 |
If
occupation of the property is given to the Purchaser
prior to registration of transfer the Purchaser shall
not be entitled to make any alterations or additions
to the property before the date of registration of
transfer. The Purchaser shall be obliged in the event
of the cancellation or lapse of this Agreement to
forthwith vacate the property and restore it to the
Seller in the same condition as when the Purchaser
took occupation, it being acknowledged that no tenancy
shall be created by the Purchaser taking occupation
prior to registration of transfer and that the
Purchaser will have no claims whatsoever against the
Seller arising out of any alternations or additions
made to the property by the Purchaser. |
| 5.5 |
All
occupational interest shall be payable monthly in
advance, provided that the Purchaser shall be entitled
to a refund of a proportionate share of the payment in
respect of the month in which the property is
registered into his name and calculated from the date
of such registration.
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| 6. |
Transfer |
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| 6.1 |
The
Purchaser shall be liable for payment of the
Conveyancer's fees in respect of the registration of
transfer of the property in the Purchaser's name, such
fees being payable on request by the Conveyancer. The
Purchaser shall on request pay all other expenses of and
incidental to the registration of transfer of the
property into the name of the Purchaser, including
transfer and stamp duty and survey and diagram fees (if
any), as well as the costs of registration of any bond
referred to in this Agreement |
| 6.2 |
The
Seller and the Purchaser undertake immediately upon
being requested to do so to sign all documents required
to be signed in connection with the transfer, the
cancellation of all bonds at present registered over the
property and the registration of any bonds to be
registered in terms of this Agreement. |
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| 7. |
Breach |
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In the event
of either one of the parties ("the defaulting
party") committing a breach of any of the other terms of
this Agreement and failing to remedy such breach within a
period of 10 (Ten) days after receipt of a written notice from
the other party ("the aggrieved party") calling upon
the defaulting party to remedy the breach complained of, then
the aggrieved party shall be entitled at his sole discretion
and without prejudice to any of his other rights in law,
either to claim specific performance of the terms of this
Agreement or to cancel this Agreement forthwith and without
further notice claim and recover damages from the defaulting
party. |
| 8. |
Domicile |
|
Each party
chooses as his domicilium citandi et executandi his address as
set out in the preamble hereto, at which address all notices
and legal process in relation to this Agreement or any action
arising therefrom may be effectually delivered and served. |
| 9. |
General |
|
| 9.1 |
The
parties undertake to do all such things as may be
necessary, incidental or conducive to the
implementation of the terms, conditions and import of
this Agreement.
|
| 9.2 |
This
Agreement constitutes the sole and entire agreement or
any consensual cancellation thereof shall be of no force or effect unless reduced to writing and signed
by the parties or their duly authorised
representatives.
|
| 9.3 |
No
variation of the terms and conditions of this
Agreement or any consensual cancellation thereof shall
be of any force or effect unless reduced to writing
and signed by the parties or their duly authorised
representatives. |
| 9.4 |
No
indulgence which either party ("the
grantor") may grant to the other ("the
grantee") shall constitute a waiver of any of the
rights of the grantor who shall not thereby be
precluded from exercising any rights against the
grantee which may have arisen in the past or which
might arise in the future. |
| 9.5 |
The
Seller and the Purchaser warrant to each other that
all consents required in terms of the Matrimonial
Property Act No. 88 of 1984 have been duly furnished. |
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| 10. |
Estate
Agent's Commission |
|
| 10.1 |
Commission
calculated at ___________ % of the Purchase Price plus
VAT shall be paid by the Seller to____________________________ provided that should
the Purchaser fail to carry out his/her obligations in
terms of this Agreement resulting in transfer not being
passed, then and in that event,
____________________________________ shall be entitled to recover the
commission from the Purchaser. |
| 10.2 |
The
said commission will be earned upon the 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 herein and is payable
upon registration of transfer of the property into the
name of the Purchaser.
|
| 10.3 |
___________________________hereby
accept all benefits and obligations conferred upon it in
terms hereof.
The Purchaser
warrants that no estate agent introduced him to the
property or initiated the sale or was the effective
cause of the sale. |
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| 11. |
Mortgage
Bond |
|
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 an Institution of not less than
R________________ upon the security of a first mortgage bond to
be registered over the property on such terms as are normally
applicable. This suspensive condition shall be deemed to have
been fulfilled by notification of approval in principal by
such Institution upon such terms normally applicable to loans
of this nature including a requirement of a deed of suretyship
by the Purchaser's spouse, director or member as the case may
be. |
| 12. |
Waiver
Of Conditions And Lapse Of Agreement |
|
| 12.1 |
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. |
| 12.2 |
Should
any suspensive condition contained in this Agreement not
be timeously fulfilled, the entire Agreement shall
automatically lapse and be of no further force or
effect. In such event all amounts paid by the Purchaser
(excluding the occupational interest) shall be refunded
to him together with any interest that has accrued
thereon. |
|
| 13. |
Certificates |
|
The
Seller shall, at his cost, which shall include, where
necessary, any work to be carried out, furnish the
Purchaser with a valid Certificate of Compliance, that
the entire electrical installation on the property
complies fully with the provisions of the Electrical
Installations Regulations.
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| 14. |
Acceptance |
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This offer is
open for acceptance and is irrevocable until _________________
and upon acceptance by the Seller will constitute a sale upon
the terms and conditions herein set forth.
|
| 15. |
Suspensive
Condition |
|
This sale is
subject to the suspensive conditions that the purchaser sells
his property, namely___________________________ within_________ days from date of last signature
hereon, for a price not exceeding R________________ .
It is recorded that it
is the intention of the parties that transfer of the
Purchaser's property must be effected prior to or
simultaneously with transfer to the Purchaser of the property
sold in terms hereof. The guarantees required in terms of
clause 2 and costs of transfer shall be furnished from the
sale of the Purchaser's property. |
| 16. |
Ratification
Clause |
|
Notwithstanding
signature of this agreement by the parties, the Seller retains
the right to continue marketing his property and in the event
of the Seller receiving a more favourable written offer from a
third party, he shall notify the purchaser in writing of the
new offer by delivering a copy of the new offer together with
his written notification to the Purchaser. The Purchaser shall
then have the right to within 72 hours of receipt of such
notification, to waive any suspensive condition contained
herein and match the terms of such more favourable offer, by
handing a written notification of such waiver and acceptance
of such more favourable terms of the Seller or to
_____________________________________. Should the Purchaser fail to
waive the suspensive condition/s as aforesaid or accept such
more favourable terms, then and in that event the Seller shall
be entitled but not obliged to resile from this agreement and
accept such alternative offer. The period of 72 hours shall
not include Weekends or public holidays.
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| 17. |
Rules |
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The Purchaser
acknowledges that he has Read the Rules of the body corporate
and hereby undertakes for and on behalf of himself, his family
and any other person who may occupy the section to observe and
comply fully and effectually in all respects with the said
rules.
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| 18. |
Real
Right to Extend |
|
A Real Right to extend the
scheme as contemplated in Section 25 of the Sectional Titles
Act 1986 is registered in favour of the developer or the body
corporate.
*Delete if not applicable.
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| 19. |
Cooling
Off |
|
The
purchaser shall have the right to revoke this offer or
terminate this deed of alienation as the case may be in terms
of Sections 29A of the Alienation of Land Act of 1981 as
amended within five days of signature hereof by the purchaser
by delivery or written notice to that effect to the seller of
his agent within the said five day period. The period of five
days shall be calculated with the exclusion of the day of
signature by the purchaser and any Saturday, Sunday or Public
Holiday.
Subject to: |
|
| 19.1 |
The property
described herein being used or intended to be used
mainly for residential purposes; and |
| 19.2 |
The property
described herein not being agricultural land; and |
| 19.3 |
The
purchaser price of the property not exceeding R 250
000.00; |
| 19.4 |
The
purchaser being a natural person or persons; and |
| 19.5 |
The property
not having been purchased on auction; and |
| 19.6 |
The parties
to this agreement not having previously entered into a
Deed of Sale of the same property on substantially the
same terms; and |
| 19.7 |
This Deed of
Sale not containing a nomination clause; and |
| 19.8 |
The property
described herein not having been purchased by the
exercise of an option which was open for a period of at
least five days; |
|
|
Such
written notice by the purchaser revoking the offer or
terminating the deed of alienation shall only be effective if
it:
| (a) |
is signed by
the purchaser or his of her agent acting on his or her
authority; |
| (b) |
identifies
the offer or deed of alienation that is being revoked or
terminated, as the case may be; and |
| (c) |
is
unconditional. |
Where an
offer is revoked or deed of alienation is terminated as
contemplated above, every person who received an amount from
the purchaser or any prospective purchaser in respect of the
offer or deed of alienation, as the case may be, shall refund
the full amount of such payment to the purchaser within 10
days of the date of which the notice referred to the above was
delivered to the seller or his or her agent |
| 20. |
In the event
of the Purchaser acting as agent for a Company or Close
Corporation to be formed or incorporated or a Principal, and
the Purchaser as agent failing within 30 (thirty) days from
the date of sale to register a Company of Close Corporation
having as one of its objectives the adoption or ratification
of this agreement, or in the event of such Company or Close
Corporation failing to adopt or ratify the agreement within 14
(fourteen) days after the date of its incorporation or the
Principal failing to ratify the purchase, within 7 (seven)
days after the date of sale, then in either such event, the
Purchaser shall be deemed as from the date of sale to have
entered into this agreement in his personal capacity and as
principal and to have acquired and assumed the rights and
obligations of the Purchaser under this agreement. |
| 21. |
SPECIAL
CONDITIONS
SIGNED by the SELLER at PORT ELIZABETH on the___________ day
of_____________ 2___
AS WITNESSES:
1._____________________
_______________________
SELLER
2._____________________
_______________________
SPOUSE OF SELLER
SIGNED by the PURCHASER at
PORT ELIZABETH on the_________ day of___________ 2___
AS WITNESSES:
1.
_____________________
________________________
PURCHASER
2.______________________
________________________
SPOUSE OF PURCHASER
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