Free Conveyancing Agreement Template
This template has been crafted by our experienced conveyancing team to help ensure that your transaction proceeds smoothly and in accordance with your wishes.
AGREEMENT OF SALE – SAMPLE AGREEMENT
I/we, the undersigned: ____________________________________________
Identity number: _____________________________
and: ___________________________________________
Identity number: _____________________________
Married in/out of community of property to each other/unmarried
(SELLER/S)
And
I/we, the undersigned: ____________________________________________
Identity number: _____________________________
and: ___________________________________________
Identity number: _____________________________
Married in/out of community of property to each other / unmarried
(PURCHASER/S)
1. PROPERTY DESCRIPTION
• Present bond held by: __________________________________________________
• Bond Account number: _________________________________________________
• Stand number: ________________________ Township: ____________________
• Street address: _______________________________________________________
• Property known as: ____________________________________________________
• Unit/Erf number: _______________________ Sectional Title number: __________
• Together with lock-up garage(s): _________________________________________
• Carport(s): ______________________ Parking(s): __________________________
• Body Corporate: ______________________________________________________
• Levy amount: ________________________________________________________
2. PURCHASE PRICE
The purchase price is the sum of R________________________ (_) value added Tax inclusive (if applicable).
Payable as follows:
c) In cash the sum of R_____________________ (_) to be paid to the Transfering Attorneys within ______ (_) days of acceptance of this offer and subject to Clause 7 hereof, or be held in trust in an interst bearing account. The interst so earned shall accrue to the Purchaser.
d) For the balance of R_____________________ (_) there shall be furnished within ______ (_) days of acceptance of this offer an approved guarantee in favour of the Seller of his/her nominee payable free of bank exchange at Pretoria upon registration of transfer into the name of the Purchaser.
3. VOETSTOOTS
The Purchaser acknowledges that he/she has inspected the property and that no misrepresentations have been made to him/her in regard thereto and that he/she purchases the property “voetstoots” to the extent such as it now lies, subject to the conditions of title under which it is held, and the Seller shall not be liable for any defects patent of latent to the property or any damages which the Purchaser may suffer as a result of such defects.
4. OCCUPATION
Occupation of the said property shall be given to the Purchaser on ________________________ from which date all risk other than the risk covered by the Sellers Homeowners Insurance Policy shall pass to him/her. From date of registration of transfer the Purchaser shall be responsible for the payment of all rates and taxes, municipal- and other charges or levies of whatsoever nature in respect thereof, and he/she undertakes to refund the Seller a pro rata share of any such charges which the Seller may have paid in advance of that date. The total risk in the property shall pass to the Purchaser on date of registration of transfer. Possession shall be given on date of registration of transfer before which date the Purchaser shall be preciuded from making any alterations to the property. Should the Purchaser improve the property on his own account it would be on his own risk and he will not have any claims whatsoever against the Seller should registration not take place for whatever reason.
5. TRANSFER ATTORNEY
Transfer of the property shall be effected by the Transferring Attorneys MALAN ATTORNEYS, 10 Marais street, Baileys Muckleneuk, Tel: (012) 346 3971 / Fax: 086 615 1337 [EXAMPLE ONLY] from PRETORIA and all costs of transfer, including transfer duty or value added tax whichever is applicable shall be paid by the Purchaser immediately upon request by the Transferring Attorney.
6. EXPIRY
This offer is irrevocable until _____________________ and it is distinctly understood that if this offer is accepted by the Seller the sale is concluded, whether or not notification of such acceptance has been received by the Purchaser.
7. AGENT COMMISSION
The Seller shall pay the Agent’s professional fee calculated at ______% of the gross purchase price of R________________________ and value added tax thereon at the standard rate (herein collectively referred to as “the fee”). The Seller irrevocably authorises and instructs the Transferring Attorney referred to in Clause 5 to make payment of the fee or the balance thereof, as the case may be to the Agent from the proceeds of the sale upon registration of transfer.
8. BREACH
Should the Purchaser breach or otherwise fail to comply with any of the terms and conditions hereof and remain in default for a period of seven (7) days after delivery of, or seven (7) days after despatch of written, registered notice to the Purchaser by the Seller requiring such default to be remedied, the Seller shall be entitled, without prejudice to any other rights he/she may have at law to cancel this Agreement, repossess and re-occupy the property and, subject to the Agents rights to his fee retain all monies paid by the Purchaser as a pre-estimate of damage, notwithstanding the Sellers rights to demand specific performance of the terms and conditions hereof. In the event of the cancellation of this Agreement in terms of his Clause, the Purchaser shall not be entitled to any compensation for any damages which he/she may suffer as a result of the cancellation.
9. AGREEMENT SUBJECT TO
This offer is subject to the granting of a loan by no later than ________ (_) days from date of acceptance of R__________________ (_) by a registered bank or building society at such rates of interest and on such conditions as are stipulated by the bank or building society to which the applications for the loan is/are made. This loan may be obtained on behalf of the Purchaser by the Seller, the Agent or the Purchaser itself. The Purchaser undertakes to fully co-operate with the Seller, or the Agent to obtain such loan and shall provide full information and sign all required documentations for such loan application. The Purchaser further undertakes to apply for such a loan within 3 (THREE) working days of acceptance hereof. On the granting of such loan by a financial institution this condition shall be deemed to have been fullfilled. In the event of the Purchaser being unable to obtain the loan within the period referred to above, an automatic extension of fourteen (14) days will be applied, provided that a quote/offer from a financial institution has already been obtained.
10. PROPERTY DESCRIPTION
If the property has been erroneously described herein, such error shall not be binding on the Seller, but the description of the property as set out in the Sellers tile deed shall apply and in such even the parties agree to the rectification of this agreement to conform the intention of the parties.
11. OCCUPATION AMOUNT
The party enjoying occupation while the property is registered in the name of the other party shall pay to said party for the period of such occupation an amount of R_______________ (_) per month payable monthly in advance to the Transferring Attorney. Should transfer take place during the month, the above amount shall be pro rata. Should this Agreement be cancelled for any reason whatsoever, it is agreed that no tenancy has been created by the having taken occupation prior to transfer.
12. DELAY IN PROCESS
Should the registration of transfer be delayed due to any cause for which the Purchaser is responsible, then he/she shall pay to the Seller the amount as is provided for in Clause 11 above or interest for the period of such delay at the current rate charged by prime rate on the amount of the purchase price, whichever is the greater. This condition shall also be applicable to the Seller in the case of a delay on his/her part.
13. NO AMENDMENTS
No latitude or extension of time which may be allowed by the Seller to the Purchaser in respect of any payment provided for herein or any matter or thing which the Purchaser is bound to perform or observe in terms hereof shall under any circumstances e deemed to be a waiver of the Sellers rights and the Seller will be entitled to claim without notice compliance with each and every provision or term hereof. Any agreement between the Purchaser and Seller to cancel after or add to this Agreement shall not be binding and shall be of no force or effect unless reduced to writing and signed by the parties before witnesses.
14. JURISDICTION
The parties consent to the jurisdiction of the Magistrate Court having jurisdiction over its person in respect of all proceedings connected with this Agreement, notwithstanding that the value of the matter in dispute might exceed the Courts jurisdiction. Notwithstanding the foregoing, the parties and the Agent shall be entitled to institute all or any proceeding against any party connected with this Agreement in any Division of the High Court of South Africa having jurisdiction.
15. LEGAL COSTS
All costs and disbursements including legal costs on the attorney-and-client scale incurred by the agent collecting or endeavouring to collect its agent fee shall be payable by the party responsible to pay the said commission to the agent as a when incurred.
16. SIGNING BY CC, TRUST OR COMPANY
In the event of the purchaser being a Company, Close Corporation or Trust or a Company yet to be formed or incorporated, then the signatory hereto in his personal capacity shall by appending his signature to this Agreement of Sale on the last page, bind himself as surety and co-principal debtor for the obligations of the Purchaser arising from the terms and conditions of this agreement to the Seller and/or agent. The signatory hereby undertakes to take transfer of the property into his own name should such Company or CC not be formed or incorporates (and in the case of Company the obtaining of a Certificate to Commence Business) and where applicable ratify and adopt this offer within thirty (30) days of date of acceptance hereof.
17. PROPERTY SOLD
17.1 The parties hereby agree that the agent may erect a “Sold” sign on the property which sign may be displayed for a period of 60 (sixty) days form the date of fulfilment of all suspensive conditions of this Agreement OR
17.2 The parties agree that there is no estate agent involved in the sale of the property and that no estate agent/s was the effective cause of the transaction and that no agents’ commission is payable whatsoever.
18. FINAL AGREEMENT
This Agreement constitutes the full agreement between the parties and there are no other conditions guarantees and/or representations save and except those herein contained and my only be varied it reduced to writing and signed by die parties hereto.
19. TENANTS
The parties place on record that there is:
19.1 currently a lease agreement in place between the seller and tenants which agreement will be valid until date of expiry of the agreement which agreement is attached hereto;
19.2 there is currently no lease agreement between the Seller and any tenants;
If 19.1 is applicable the agreement:
19.2.1 Will be ceaded to the purchaser after registration until the lease period expires and/or
19.2.2 The tenants will have the option to give notice in terms of the lease agreement to the Seller once the property is sold;
20. COOL DOWN CLAUSE
The Purchaser shall have no right to cancel or _______ this agreement in terms of Art 29A of the Alienation Land Act, 68 of 1981.
21. ELECTRICAL CERTIFICATE
The Seller hereby undertakes to furnish the Transferring Attorney prior to occupation by the Purchaser, or transfer, whichever is the earlier, with a valid certificate of Compliance (Act No 6 of 1983, as amended. 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.
22. INDEMNITY
The Seller hereby indemnifies the Purchaser against any claims for arrears water and electricity form the Town Council and accepts responsibility for the payments thereof up and until the purchaser occupied the property or date of registration whoever comes first.
23. DOMICILIUM
The Purchaser and Seller choose their addresses given on page 1 of this agreement, as the address at which they will accept delivery of service of all notices and legal process. All notices required to be given by one party to the other shall be in writing and shall be deemed to be received by the addressee on this fourth day following the posting thererof by pre-paid registered post or on the date of delivery or transmission thereof if delivered by hand or if transmitted by fax.
SELLER:____________________________________________________________________
PURCHASER:________________________________________________________________
24. FIXTURES AND FITTINGS
The property is sold with all fixtures and fittings of a permanent nature (including but not limited to fitted carpets, fixed light fittings and chandeliers, curtain rods, rings, rails and blinds, all fitted cupboards, shelves and mirrors, existing built-in over/extractor fan, television antennae and all pool cleaning equipment including automatic pool cleaning equipment, burglar alarm remote controle units for automatic gates and garage doors, fitted bar and bar stools as well as all trees and rooted plants 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 date of occupation shall be in good condition and working order. The purchaser undertakes to maintain the fictures and fittings in same good condition and working order from date of occupation to date of transfer.
25. VAT & INCOME TAX
25.1.1 The Seller confirm that he/she is a registered vendor for VAT purposes with VAT registration number: ____________________________.
25.1.2 The Seller is registered for income tax with income tax number: ___________________ and _____________________.
25.1.3 The Purchaser confirm that he/she is a registered vendor for VAT purposes with VAT registration number: ____________________________.
25.1.4 The Purchaser/s is registered for income tax with income tax number: ____________________ and _________________.
25.2 On date of signature of this offer to purchase both the Seller and the Purchaser will supply the conveyancers with copy of the notice of registration for income tax namely form IRP5 and or form VAT103 which confirms registration as a VAT vendor.
26. ADDITIONAL CLAUSES / SPECIAL CONDITIONS
__________________________________________________________________________
SIGNED AT _________________ on this ______ day of _______________________2015.
AS WITNESSES
1. __________________________ ____________________________
SELLER
2. __________________________ ____________________________
SELLER
SIGNED AT _____________________ on this _____ day of ____________________2015.
AS WITNESSES
1. __________________________ ____________________________
PURCHASER
2. __________________________ ____________________________
PURCHASER
