It is important to ensure that all areas of the agreement are filled or barred. If there is no consensus among the parties on what has not been fulfilled, there is no agreement. Under Section 2 of the Alienation of Land Act (No. 68, 1981), an agreement on the sale of land must be signed in writing and by both parties (i.dem the seller and the buyer). If the agreement is not written or signed, it is null and void and therefore without force or effect. 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: Property sale contract but this is not the end of the thing. 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. 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. Parties must also be aware of the certificates of compliance that must be obtained prior to the registration of a transfer of assets 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. At least the contract must contain a description of the seller and buyer, a description of the property for sale and the purchase price.
These are known as the essential conditions of the agreement. A particular condition is also an essential clause of the agreement and the same safety rules apply. The contract is not subject to a particular condition and it is a contractual obligation that can be applied. An example of a particular condition is that one of the parties has something specific to do with regard to ownership (for example. B the seller must provide approved municipal plans to the buyer). It is necessary to take into account the following: who should do what, when it should be done, as it should be done (not always applicable), and what are the consequences if a party does not act. 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.