Here is a free sales contract to download. This document complies with the Consumer Protection Act (CPA) and is available for local freehold – that is, in a grandmother`s house or apartment. Click here: Ownership Agreement Parties must also be aware of the certificates of compliance that must be available before registering a transfer of ownership and include them in the sales contract. Certificates of compliance for electrical installation, electrical fencing and gas installation on the ground are required within the meaning of the Labour Protection Act and the parties are unable to agree or agree to waive this requirement. A „plant health certificate“ certifies that the property is free of certain wood-destroying beetles and, in Cape Town, the seller must receive a health certificate. In today`s modern world, where most people have access to the Internet, it is easy to get a template for a real estate sales contract. However, certain legislative provisions must be respected in order for the agreement between the parties to be valid and binding. If you use any of these agreements, you must ensure that the document complies with South African law. The method of payment of the purchase price must be clearly defined, as this is an essential clause. In a pre-printed agreement, all unsuperated options must be removed, as a default can nullify the agreement.
Parties must determine whether a down payment is payable and when it is payable. If the buyer needs mortgage financing to purchase the property, the amount required and the date on which the financing must be approved must be clearly defined. If these data or periods are not included in the agreement, the agreement is not applicable. But this is not the end. The additional conditions essential to the sale must also be mentioned in the agreement. These essential concepts are not easy to define, but it must be kept in mind that there is no valid agreement if an essential concept has not been definitively agreed and is left open to further negotiations. When processing the sale of the land, the examples of essential conditions are: the method of payment of the purchase price, the time in which the purchase price must be paid, the suspensive conditions and other special conditions, as well as the date of the occupation and the possible rent of the operation. A suspensive condition is an essential concept and must therefore be set out in writing and clearly in order to avoid any uncertainty. The sale, under the authority of the buyer who manages a mortgage, is a standard carry-over condition.
If the event does not occur, i.e. the buyer does not obtain a loan authorization, no agreement is reached. The sale of land generally includes devices and fittings. These are objects that are permanently attached to the structures or buildings of the countryside. In determining whether an object is a device and/or adaptation, three aspects should be considered: the object of destination or the type of object to which it was attached, the manner in which an object was attached, and the intention of the owner when placing the object. There are some ambiguous areas, namely structures such as sheds and wendy houses, objects used in combination with a device, such as garage door remotes and batteries for solar installations. If the buyer wishes to include this type of item in the sale, the clause that defines it must be as specific as possible. It is difficult to impose oral agreements in this regard. If you have any doubts about the validity and commitment of your agreement, contact a real estate lawyer to point you in the right direction.