( Seller ) Address (residential) ( Purchaser ) Address (residential) In this agreement the following words have the meanings given to them hereunder:

Transcription

1 EAAB REGISTERED Principal Agent: H. Bird Tel: Fax OFFER TO PURCHASE Negotiated by Complete Coast Properties 1. PARTIES 1.1 Seller s name ( Seller ) Address (residential) ID or Company Reg: 1.2 Purchaser s name ( Purchaser ) Address (residential) ID No. or Company Reg.: 2. INTERPRETATION In this agreement the following words have the meanings given to them hereunder: 2.1 the Property: Freehold Property Stand/Erf Township Street address: No 2.2 the Estate Agent The firm COMPLETE COAST PROPERTIES CC trading as COMPLETE COAST PROPERTIES CC of (address) NO. 6 CORD GRASS WAY, ATLANTIC BEACH, MELKBOSSTRAND 2.3 the Conveyancer The transferring attorneys appointed by the Seller Namely Contact: 3. SALE AND PURCHASE The Property is hereby bought and sold subject to the terms and conditions contained in this agreement. Page 1 of 10

2 4. PURCHASE PRICE The purchase price is: R ( RAND) 5. DEPOSIT 5.1 The Purchaser shall pay a deposit of % of the purchase price OR R ( Rand) immediately upon acceptance of this offer to the Conveyancer to be held by the Conveyancer in an interest-bearing trust account, interest to accrue to the Purchaser pending registration of transfer ( Transfer ). 5.2 If any suspensive condition to which this offer is subject is not fulfilled, the full deposit, together with the accrued interest, shall be refunded to the Purchaser. 6. BALANCE 7. TRANSFER The balance of the purchase price or the full purchase price, as the case may be, shall be paid to the Conveyancers, against Transfer. The Purchaser shall, within seven (7) days of being requested in writing by the Conveyancers to do so, furnish them with a bank guaranteed cheque, or a guarantee/s from a financial institution/s or other guarantee acceptable to the Seller, for payment upon Transfer of the said purchase price or balance and any brokerage for which the Purchaser has assumed liability. 7.1 The Purchaser is responsible for payment of the Conveyancers fees in respect of the registration of transfer of the Property into the Purchaser s name, such fees being payable to the Conveyancer on demand once any suspensive clauses have been fulfilled. The Purchaser must on request by the conveyancer, 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. 7.2 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. 7.3 TARGET DATE FOR TRANSFER: 8. OCCUPATION AND OCCUPATIONAL INTEREST 8.1 The parties agree that the VACANT occupation of the Property shall be given to, and taken by, the Purchaser on /On Date of Transfer 8.2 If the 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 ( RAND) per month, subject to clause 8.3. Page 2 of 10

3 8.3 If the 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 a 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: The amount referred to in clause 8.2; or The amount payable by the Seller monthly on all mortgage bonds registered over the Property as at the date of signature of this agreement by the Purchaser, until the date of transfer; whichever is the greater. 8.4 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 or 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. 8.5 The amounts referred to in clause 8.2 and 8.3 are payable monthly in advance. Should transfer be registered during a month, the Seller must refund the Purchaser a share of the payment made. Such a share will be for the period between the date of registration of transfer and the end of the month. 9. POSSESION AND RISK On Transfer, possession of the Property and all the risks and benefits of ownership shall pass to the Purchaser. 10. ELECTRICAL INSTALLATION 10.1 The Seller hereby undertakes to furnish the Conveyancers, prior to occupation by the Purchaser, or Transfer, whichever is earlier, with a valid Certificate of Compliance in respect of the Property, in terms of the Electrical Installation Regulations of 1992 under the Machinery and Occupational Health and Safety Act (Act No. 6 of 1983, as amended), issued by a qualified wireman All costs incurred in obtaining such a certificate, including costs of any repairs or replacements required in order for the certificate to be issued, shall be borne by the Seller The Seller warrants that, as at the date of occupation or transfer, whichever is earlier, there will have been no addition or alteration to the electrical installations existing on the Property subsequent to the issue of such a certificate Upon the Seller furnishing the Conveyancers with such certificate, the Purchaser shall have no claim whatsoever against the Seller in respect of electrical installations and no further liability in this regard shall rest upon the Seller. Page 3 of 10

4 11. BEETLE CERTIFICATE 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: 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; 11.2 all accessible timbers on the Property must be inspected for infestation by wooddestroying beetles, termites and, in the Western Cape, fungi; 11.3 the inspector or entomologist must issue a written report (with 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; 11.4 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 11.3, 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. 12. SIGNATURE 12.1 The first signature to this agreement shall constitute a irrevocable offer, which may not be withdrawn prior to presentation to the Seller or the Purchaser, whichever the case may be, and which thereafter shall remain available for acceptance until pm on / /2015 (date) Where after it shall lapse and be of no further force and effect, Complete Coast Properties is hereby appointed as agent for the Seller and the Purchaser for the purpose of communication of acceptance. In the event of this offer being counter-offered, the counter offer shall remain available for acceptance until 5pm on This agreement will be binding once it is signed by the Seller and Purchaser, even if the Seller has not notified the Purchaser that the offer has been accepted. 13. MORTGAGE LOAN 13.1 This offer is subject to the approval in writing by a financial institution or by the Purchaser s employer, on its/their usual terms and conditions of a mortgage loan/s totaling R ( RAND) or such lesser amount as may be accepted by the Purchaser, against security of the Property. Application shall be made to such financial institution/s as may be selected by the Purchaser, for such mortgage loan/s forthwith. Approval of the mortgage loan by a financial institution on its usual terms and conditions shall constitute fulfillment of this clause. The Purchaser undertakes to pursue all reasonable resources of mortgage Page 4 of 10

5 finance and to do all things necessary to procure the granting of the loan (including but not limited to the signing of documents and the furnishing of relevant information) Confirmation of approval in writing is to be given by no later than / /2015 whereupon this suspensive condition shall be deemed to have been fulfilled, failing which the aforesaid date shall be automatically extended for a further thirty (30) days In order to facilitate the application by the Purchaser for the mortgage finance, the parties consent to the disclosure by Complete Coast Properties of the information contained in the deed of sale for the purposes of the Purchaser s application for mortgage finance The Purchaser hereby consents to allow any financial institution to which the mortgage finance application is made to assess the Purchaser s creditworthiness including by way of obtaining credit-related information in any form and from any source. The Purchaser further acknowledges that the financial institution/s (and/or its nominees) will be entitled to verify any information contained in this Deed of Sale and/or submitted by the purchaser to the financial institution/s for the purpose of the application for the mortgage bond The provisions of this clause are for the benefit of the Purchaser, who may unilaterally waive the use of the mortgage loan finance. Such waiver must be communicated to the Seller in writing prior to the expiry of the period for the loan approval set out in clause 13.2 above 14. PURCHASER S COOLING OFF RIGHT applicable to sales under R only 15. BROKERAGE 15.1 The Seller will be responsible for any commission to be paid to the Estate Agent: Complete Coast Properties cc 15.2 An amount of R ( Rand) VAT excluded is payable by the Seller 15.3 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 Complete Coast Properties entitlement to commission is unconditional once due and shall be payable upon Transfer of the Property or, where this agreement is breached by the Purchaser or the Seller, immediately upon such breach. The Seller undertakes to pay the Brokerage and hereby irrevocably authorizes the Conveyancer, on Transfer, to deduct the Brokerage from any amount it may be holding in trust in terms of clause 5 hereof, or, if there is no such amount held, or if the proceeds thereof are insufficient to meet the full Brokerage, then the Seller hereby irrevocably instructs the Conveyancers to pay the amount, or the balance Page 5 of 10

6 of the amount due (as the case may be), to Complete Coast Properties as a first draw against the proceeds of the sale An act of insolvency, or the granting of a provisional or final order of liquidation or sequestration in respect of the Seller, shall constitute a breach of this agreement by the Seller, in which event, should the Trustee/Liquidator of the Seller s insolvent estate elect to proceed with the sale: The Purchaser shall assume the Seller s liability for payment of Brokerage to Complete Coast Properties, and the amount of Brokerage so paid by the Purchaser to Complete Coast Properties shall constitute damages suffered by the Purchaser as a consequence of the Seller s breach, which damages the Seller authorizes the Purchaser to set off against the purchase price. 16. SIGNAGE A Sold board shall be displayed on the property from date on which all suspensive clauses are fulfilled until date of Transfer 17. BREACH 17.1 Should the Purchaser fail to pay the amount referred to in clause 5 above and continue with such failure for a period of three (3) 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 within fourteen (14) days after receipt of 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 ) may, without affecting any other legal rights: Claim either specific performance; or Cancel this agreement immediately, without further notice, and recover damages from the defaulting party If the defaulting party is: the Purchaser, then the Estate Agent will be entitled immediately upon cancellation of this agreement to receive payment of the brokerage from the payment referred to clause 5 above, while the Seller will be entitled to the balance (if any) of such payment, together with all interest earned thereon; the Seller, the Conveyancer immediately on cancellation of this agreement refund the payment made by the Purchaser in terms of clause 5 above, together with all the interest earned thereon. Page 6 of 10

7 17.3 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 the Conveyancer (as the case may be) must hold the payment referred to in Clause 5 in trust until such dispute is finalized either by agreement between the Purchaser and the Seller or in terms of a Court order In the event of any party, including Complete Coast Properties, having to consult with an attorney as a consequence of any breach of the terms of this agreement by any party, then the defaulting party will be liable to pay the other party s costs on the attorney and own client scale. 18. WARRANTIES AND UNDERTAKINGS 18.1 The Property is hereby sold voetstoots and subject to all existing servitudes, Title Deed conditions and all other conditions which may exist in regard thereto, the Seller not being responsible for any deficiency nor benefiting from any excess found in the area thereof upon re-survey. HOWEVER the seller shall disclose any property defects or any conditions of the property to their knowledge in Clause 23 herein so that the Purchaser has full knowledge of any patent or latent defects and may accept the house in its condition, request remedy or withdraw his offer The parties hereto agree that this agreement constitutes the entire Agreement between them and that no warranties or representations other than those contained herein have been made by any of the parties, or their agents nor are there any suspensive conditions to this agreement which are not included herein. No variation, waiver or consensual cancellation of the Agreement shall be of any force or effect unless reduced to writing and signed by both parties The parties warrant that the information contained in the Agreement and in the Personal Details, supplied by them, relating to them or which should reasonably be within their knowledge, is true and correct The Purchaser warrants that he/she has not been introduced to the Property or to the Seller by any other party other than Complete Coast Properties and that Complete Coast Properties is the effective cause of the sale The Purchaser warrants that the price reflected in clause 4 hereof is the true consideration in this transaction and that no other consideration is involved between the parties directly or indirectly If there is more than one purchaser, their liability hereunder shall be joint and several. Page 7 of 10

8 18.7 Where the signatory to this Agreement does not sign in a personal capacity, he/she warrants due authorization to represent the party ( the represented party ) which he/she purports to represent and binds himself/herself as surety and co-principal debtor with the represented party for the due performance by it of all its obligations in terms hereof, and agrees to sign all documents and to bind himself/herself as surety for and co-principal debtor with the represented party as far as it may be required by any proposed mortgagee/s so as to enable fulfillment of any conditions in this Agreement The Purchaser and the Seller warrant that all the material terms of this Agreement have adequately been explained to them by Complete Coast Properties prior to signature of the agreement The parties agree that this Agreement shall in all respects, including the interpretation and implementation thereof, be subject to the laws of the Republic of South Africa and consent to the exclusive jurisdiction of the South African courts The purchaser agrees to abide by and accepts any Code of Conduct applicable to the property The Seller shall pay all Levies, Rates and other amounts due on the property in order to obtain necessary certificates to effect transfer timeously 19. FIXTURES AND FITTINGS The property is sold with all fixtures and fittings of a permanent nature situated on it at the date of this offer, unless specifically excluded. The Seller warrants that all such fixtures and fittings are his/her property, are fully paid for and, at the date of occupation, shall be in good condition and working order. The Purchaser undertakes to maintain the fixtures and fittings in the same good condition and working order from date of occupation to date of transfer. Additional Fittings/fixtures to form part of the sale: 20. SALE OF OTHER PROPERTY AND 72 HOUR CLAUSE 20.1 This offer is subject to, and conditional upon the sale of the Purchaser s property at No. (Address of the other property ) by no later than../../..(date) or such extended period as the Seller, in his/her sole discretion, may allow by notice in writing to the Purchaser, at a purchase price of not less than R ( Rand) or such lesser amount as the Purchaser may accept. It is specifically recorded that this suspensive condition shall not be regarded as having been fulfilled until all suspensive conditions to which such sale is in turn subject are fulfilled. The Purchaser undertakes that the transfer of the other property will take place simultaneously with or prior to the Page 8 of 10

9 Transfer of the Property. This condition exists for the benefit of the Purchaser who may unilaterally waive compliance therewith HOUR CLAUSE: The Seller may continue to market the Property until such time as the suspensive condition relating to the sale of the other property has been fulfilled. Should the Seller, during this time, receive another acceptable unconditional offer ( the competing offer ) to purchase the Property, he/she will have the right to call upon the Purchaser by notice in writing, to waive all suspensive conditions to which this offer is subject, thereby making the sale unconditional, within three (3) days (excluding weekends and public holidays) of the date when such notice is delivered to the Purchaser, or such extended period as the Seller in his/her sole discretion may allow ( the waiver period ). Such notice shall include a copy of the competing offer. If the Purchaser fails to waiver his/her rights in writing within the waiver period, the Seller shall be entitled, but not obliged, to accept the competing offer, upon which this sale agreement shall lapse and be null and void. 21. PLUMBING CERTIFICATE IN terms of the City of Cape Town Water By-Law 2010 the Seller agrees at his cost to provide the Conveyancing Attorneys prior to lodgement of transfer in the Deeds Office with a Certificate in terms of Section 14(1) of such By-Law in the format set out in Schedule 4 to such by-law. The plumbing certificate is to be issued by an accredited plumber 22. GAS CERTIFICATE In the event of there being a gas installation in the Property the Seller shall at his cost be obliged to obtain a Certificate of Conformity in respect of such an installation as is required by Section 17(3) of Government Notice R734 of 15 July 2009, Government Gazette The Seller and its Agents shall have reasonable access to the Property prior to the Transfer Date for the purposes of obtaining such Certificate and for carrying out such repairs as may be necessary. Should any repairs be necessary they will be for the cost of the Seller. 23. DEFECTS Defects in the Property (whether hidden or obvious) known to the Seller shall be disclosed hereunder for acceptance / refusal by the Purchaser: (See Clause 18.1) 24. ADDRESSES FOR LEGAL DOCUMENTS All notices and legal processes connected with this agreement may be sent to either Party at the address stated in clause 1. Such address may be changed by either party on written notice to the other. 25. ADDITIONAL CLAUSES Page 9 of 10

10 SIGNATURES TO AGREEMENT ON TERMS CONTAINED HEREIN Signed at on this day of 2015 in the presence of the undersigned witness. 1. WITNESS PURCHASER Signed at on this day of 2015 in the presence of the undersigned witness. 2. WITNESS SELLER Signed at on this day of Agent: Complete Coast Properties AGENT Page 10 of 10

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