AGREEMENT OF SALE. Between IDENTITY NUMBER. ("The Seller") And. ("The Purchaser/s")

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Lawrence Stewart
5 years ago
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1 AGREEMENT OF SALE Between... IDENTITY NUMBER ("The Seller") And... IDENTITY NUMBER. ("The Purchaser/s") 1. INTERPRETATION In this Offer unless the context otherwise requires: 1.1 The singular shall import and include the plural and vice versa; 1.2 Words indicating one gender shall import and include other genders; 1.3 Words indicating natural persons shall import and include artificial persons; 1.4 The headnotes to this Offer are used for the sake of convenience only and shall not govern the interpretation of the clause to which they relate. This Offer shall not be interpreted against the party responsible for the drafting or preparation thereof. 2. DEFINITIONS Unless such meaning is inconsistent with the context, the following terms shall throughout this Offer have the meanings respectively ascribed to them, namely: "Agent" NOT APPLICABLE the Property means FULL TITLE ADDRESS: SIZE: M2 OR SECTIONAL TITLE ADDRESS: UNIT: STAND NO.: "The Purchaser" Reg. for VAT? "The seller" Reg. for VAT?

2 In the capacity as owners he/she being duly authorised thereto; Page 2 "Signature date" means the date of signature of this Offer by the Seller; "Transfer" means the date of registration of transfer of the Property into the name of the Purchaser in the relevant Deeds Office; "The transferring attorneys" means: FUCHS ROUX INC., HATFIELD SQUARE Contact no.: Hannelie v Tonder, contact person: hannelie@frlaw.co.za "VAT" means value added tax in terms of the Value Added Tax Act, no. 89 of TRANSFER DUTY: The Purchaser acknowledges that transfer duty is payable by him in terms of the Transfer Duty Act 40/1949 in respect of this acquisition, and that such transfer duty is payable before date of registration and when the conveyancer request same in writing. 3. OFFER The Purchaser hereby offers to purchase the Property on the terms and conditions set out in this Offer. This Offer shall be irrevocable and remain open for acceptance until 17h00 day of.2018 or such extended date as may be agreed upon by the parties in writing. Acceptance of the Offer by the Seller shall be affected by or delivering a copy of this Offer, duly signed by it to the Purchaser's chosen address as referred to in clause 14. If this Offer is not accepted as aforesaid by the time and date stipulated in clause 2.4 or such extended period as may be agreed to by the Purchaser in writing, this Offer shall ipso facto lapse and be of no force or effect. 4. SALE If the Seller accepts this Offer then the Seller sells the Property to the Purchaser on the terms and conditions set out herein as one indivisible transaction. 5. CONDITIONS OF THE PROPERTY The Property is sold voetstoots, as it stands in the condition as set out on the attached Immovable Property Condition Report, as prescribed by the Estate Agency Affairs Board, by the Seller or his representative who declares that the Property is suitable for its intended purpose as a residential dwelling, alternatively for the specific purpose it is intended for. The declaration provided by the Seller provides a detailed list of any defects in and damage to the Property of which the Seller is aware, which declaration is made by the Seller with the best intentions of disclosing these defects to the Purchaser. The Purchaser has an obligation to inspect the Property and must sign the declaration made by the Seller at the time of making the offer as an acknowledgment of the contents thereof. The Property is subject to all the terms and conditions of title and all other conditions 2 Please Initial every page..

3 Page 3 which may exist in regard thereto. The Purchaser has been made aware of the fact that the title deed to the Property is available for inspection as a public document. If the Property s size or dimensions have been erroneously described, the description thereof as in the Seller s title deed shall apply. The Seller can give no warranty against defects, other than those specified in the declaration as aforementioned and the declaration does not negate any of his rights that he may haven under law. The Purchaser is expressly informed that the Property is to be inspected properly. The Purchaser is entitled to receive the Property in the same condition as when the Purchaser inspected the Property. The Purchaser s attention is specifically drawn to the contents of this clause and confirms that the Agent has explained the consequences of this clause in detail. 6. FIXTURES AND FITTINGS 6.1 The Property is sold together with all permanent improvements thereon, specifically including: 6.2 The following is specifically excluded: 7. PRICE The purchase price for the Property R VAT INCL.), payable as follows: A deposit of R ( ) on the signature date to the transferring attorneys to be held by them in trust in an interest bearing account, interest to accrue for the benefit of the Purchaser pending registration of transfer and thereafter to be paid to the Seller or the Seller's order; 3 Please Initial every page..

4 Page The balance is subject to: the suspensive condition that the Purchaser is able to raise a loan in the amount of R ) against the security of a first mortgage bond over the Erf and/or Property. It is recorded that the loan will be deemed successfully raised issuing of a letter by a financial institution stating that the loan has been approved in principle within 30 days. (Actual delivering of bond documentation to the conveyancer within 60 days) The Purchaser selling his property, has to have guarantees delivered on his property at the address of within 60 days Cash Amount of R within 60 days 8. The Purchaser undertakes to provide all documentation and information that may be necessary to fulfil the above mentioned conditions on request from the CONVEYANCER. 9. The property is sold as described in the existing title deed or deeds thereof and is subject to all conditions and servitudes (if any) attaching thereto or mentioned or referred to in the said title deed or deeds. The seller shall not be liable for any deficiency in extent which may be revealed on any re survey, nor shall the seller benefit by any possible surplus. 10 The seller shall not be liable to point out any pegs or beacons in respect of the property nor be responsible for locating same nor for obtaining copies of any diagrams. The Seller warrants that the Property is not subject to any rights of tenancy or occupation of any person/s. Save for anything to the contrary herein contained the Property is sold voetstoots and as it stands and the Seller gives no warranty either expresses or implied as to the condition thereof; nor shall the Seller be held liable for any defect, either latent or patent, which may manifest itself after the signature date. 11 OCCUPATION AND POSSESSION AND RISK On transfer possession and all benefits and risk in the Property shall pass to the Purchaser. Occupational interest shall be charged at pm, payable to the conveyancer on no later than the 3 rd of every month in advance. The Purchaser shall refund a pro rata share of any rates or other payments made by the Seller in respect of the Property relating to any period after transfer. 4 Please Initial every page..

5 Occupation of the Property shall be given to the Purchaser upon transfer. Page AGENT'S COMMISSION not applicable unless otherwise suggested in special conditions (clause 25) Estate agent's commission of 2% plus VAT ( ) shall be deemed earned by the agent on date of fulfilment of the suspensive conditions but paid by the Seller on date of registration. This commission is only applicable, should the Seller ask for assistance from the agent Lizette Leas and written into clause 25. As far as the Purchaser is aware no other person or agent has any claim for agent's commission arising out of this sale. 12. COSTS OF TRANSFER The Purchaser shall be liable for costs of transfer, save for the costs of cancelling any existing bond/s over the Property which shall be the responsibility of the Seller. The Seller shall pay provision for rates, taxes and similar charges (to be paid in advance as required by the local authority) and sign all documents necessary for transfer within 7 (seven) days after being called upon to do so by the transferring attorneys. Transfer shall be affected by the transferring attorneys as soon as reasonably possible after the Purchaser has complied with all the terms and conditions of this Offer. The parties warrant to each other that they are in good standing with the South African Revenue Services ("SARS") and that they are unaware of any facts or circumstances relating to income or any other tax which might delay transfer. 13. DEFAULT Should the Purchaser fail to furnish any guarantee to be provided hereunder or fail to pay any amount payable in terms hereof on due date or commit any other breach of this Offer and fail to remedy such failure or breach within 7 (seven) days after the delivery of a notice by the Seller or the Seller's attorneys to the Purchaser requiring the Purchaser to do so, the Seller shall have the right, without prejudice to any other rights which the Seller may have under this Offer or at law, either to cancel this Offer forthwith or to take action to compel immediate performance by the Purchaser of all its obligations under this Offer. If the Seller cancels this Offer to purchase the Seller shall be entitled, without prejudice to any other rights which it may have: 13.1 To claim forfeiture of all monies paid by the Purchaser in terms hereof whether held in trust or otherwise as rouwkoop or agreed pre estimated damages for breach of contract; Or 5 Please Initial every page..

6 Page To recover damages for breach of contract in which event the Seller shall be entitled to have all monies paid by the Purchaser in terms hereof whether held in trust or otherwise retained, until the actual amount of such damages between the parties hereto and thereupon to set off such damages against the aforesaid amounts so retained. Should it be necessary for any party to take steps to enforce such party's rights in terms of this Offer then the unsuccessful party hereby agrees to be liable for all costs incurred by the successful party in connection with such steps including costs on attorney and client scale, collection charges & tracing fees. 14. CHOSEN ADDRESS The parties choose as their address ("domicilium") for the purposes of the giving of any notice, the payment of any sum, the serving of any process and for any other purpose arising from this Offer, as follows : The Seller: Cell The Purchaser: Cell: Each of the parties shall be entitled from time to time, by written notice to the other, to vary its domicilium to any other address within the Republic of South Africa which is not a post office box or poste restante. Any notice given and any payment made by any party to another ("addressee") which is delivered by hand during the normal business hours of the addressee at the addressee's domicilium for the time being shall be presumed, until the contrary is proved by the addressee, to have been received by the addressee at the time of delivery. Any notice given by any other party to another which is sent by to the addressee's address shall be rebuttably presumed to have been received by the addressee on the date of transmission thereof. 15. GENERAL This Offer constitutes the entire agreement between the parties, and no conditions, stipulations, warranties or representations by any of the parties or their agents, whether made prior or subsequent to the signing of this Offer, shall be binding unless in writing and signed by all parties hereto. No variation, alteration or consensual cancellation of this Offer or any of the terms thereof, shall be of any force or effect, unless in writing and signed by the parties hereto. 6 Please Initial every page..

7 Page 7 No waiver or abandonment by any party of any of its rights in terms of this Offer shall be binding on that party, unless such waiver or abandonment is in writing and signed by the waiving party. Notwithstanding any express or implied provisions of this Offer to the contrary, any 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 not under any circumstances be deemed to be a waiver of the Seller's rights at any time, to require in the future strict and punctual compliance with each and every provision or term hereof. The parties agree that they will generally co operate with one another, do all things and sign all documents necessary to give effect to the terms of this Offer and to all transactions deriving therefrom. 16. ELECTRICITY CERTIFICATE OF COMPLIANCE (IF APPLICABLE) The Seller shall at his own expense within 7 (seven) calendar days after compliance with clause 6 hereof, but before occupation, deliver to the conveyancer, a certificate of compliance in terms of Act 85 of 1993 issued by a qualified electrician. This certificate shall not be older than 2 (two) years and shall certify that the electrical installation as well as any alterations companies with the abovementioned act. The Seller guarantees that the whole installation as well as all electrical appliances is in a working order. The Seller shall repair all faults at his cost before registration of transfer. 17. ELECTRICAL FENCE SYSTEM CERTIFICATE (IF APPLICABLE) The Seller is obligated to deliver to the conveyancer, at his own expense, a certificate of compliance issued by a registered person in terms of the Occupational Health and Safety Act 85 of 1993 and the Electrical Machinery Regulations 2011, with regard to the working of the electrical fence, wherein the registered person states that he/she has examined the electrical fence, and guarantees that the fence complies with the Provisions of Section 44 of the Regulation. 18. GAS CERTIFICATE OF COMPLIANCE (IF APPLICABLE) 18.1 The Seller shall at his own expense and within 7 (seven) calendar day after compliance with clause 2.1 hereof, but before occupation, deliver to the conveyancer, a certificate of compliance in terms of the Occupational Safety and Hazards Act 85 of 1993 Sections 43 and 44 and the Pressure Equipment Regulations R734 of 15 July 2009, issued by an authorized person i.e. a registered LP Gas Practitioner or an approved inspection authority, which certificate will also certify that the LP Gas installation and any modifications thereto comply with the provisions of the Act mentioned above It is furthermore required by the abovementioned Act that a new certificate be acquired and issued by the Seller with every change of ownership. 7 Please Initial every page..

8 Page It is brought to the attention of the Purchaser that there is no expiry date on the above compliance certificate and that a new certificate has to be acquired every time A New LP Gas appliance is installed An existing LP Gas installation is modified or altered There is a change of user of the LP Gas installation The Property is rented out. The tenant (change of user) needs to be issued with his own compliance certificate for purposes of insurance cover for the contents of the building. The original compliance certificate of the landlord remains valid for the landlord provided no changes to the originally certified installation has been made The Seller guarantees that the whole installation as well as all liquid petroleum gas appliances is in a working order. The Seller shall repair all faults at his cost before registration of transfer. 19. REPRESENTATION, LIABILITY AND SURETY 19.1 The person signing this agreement as Purchaser on behalf of an existing company, close corporation or trust, bind himself/herself personally as surety an co principal debtor jointly and severally for the proper fulfilment by the juristic person or trust of all its obligation 19.2 Should the signatory sign this agreement as trustee of agent for a company, close corporation or other juristic person to be formed (with the exception of a trust;) the signatory shall be deemed to personally liable in terms of this agreement should the company, closer corporation or juristic person not be incorporated or formed or not ratify and adopt this agreement within 30 (thirty) days of the date of signature hereof. Upon formation or incorporation or ratification as aforesaid, the signatory by his/her signature hereto bind himself/herself as surety for and co principal debtor in totality with the company, close corporation or juristic person to the Seller and the Agency for the due and punctual performance by the company or juristic person of its obligations arising out this agreement In the event of more than one Seller or more than one Purchaser being a Party to this agreement, they shall be jointly and severally liable for their obligations arising in terms hereof. 20. APPLICABLE LAW All matters arising from or in connection with this Offer, its validity, existence or termination shall be determined in accordance with the laws for the time being of the Republic of South 8 Please Initial every page..

9 Page 9 Africa and the parties hereby submit to the non exclusive jurisdiction of the North Gauteng High Court. 21. COUNTERPARTS This Offer may be entered into by any of the parties executing one or more counterparts, which taken together shall constitute a complete agreement. 22. COSTS Each party shall pay its own professional fees relating to the negotiation, preparation and execution of this Offer. 23. COOLING OFF RIGHT In the event of Section 29A of the Alienation of Land Act, 68 of 1981, applying to this Offer, then notwithstanding any other provision of this Offer, the Purchaser has the right to revoke this offer or terminate it by written notice to be delivered to the Seller, or its agent within 5 (five) days (only for transactions under R ) after signature by the Purchaser of this Offer. Such notice will have no effect unless the Purchaser signs it or his agent acting on his written authority. 24. BUILDING RULES AND BEING MEMBER OF THE HOA The purchaser agrees to become a member of the HOA/Body corporate should the property be located within an estate. To adhere to all the house rules and regulations as described in the MOI/Notices 25. SPECIAL CONDTIONS. SIGNED AND ACCEPTED AT. ON THIS THE DAY OF , in the presence of the undersigned witnesses. AS WITNESSES : SELLER 9 Please Initial every page..

10 Page 10 SIGNED and ACCEPTED at on this the..day of 2018, in the Presence of the undersigned witnesses. AS WITNESSES : PURCHASER 10 Please Initial every page..

11 Page 11 KONTRAK INFORMATION FOR CONVEYANCER DETAIL: SELLER PURCHASER FULL NAME OF BUYER/SELLER NO 1 ID NO OF BUYER/SELLER NO 2 FULL NAME OF BUYER/SELLER NO 2 ID NO OF BUYER/SELLER NO 2 SURNAME OF BUYER/SELLER NO 1 SURNAME OF BUYER/SELLER NO 2 MARITAL STATUS BOND WITH BANK: TELEPHONE OF BUYER/SELLER NO 1 TELEPHONE OF BUYER/SELLER NO 2 OF BUYER/SELLER NO 1 OF BUYER/SELLER NO 2 TRUST OF COMPANY NAME REG NO OF TRUST OR COMPANY OTHER 11 Please Initial every page..

OFFER TO PURCHASE. Constituting a DEED OF SALE. when accepted. IDENTITY NR/REGISTRATION NR: MARITAL STATUS: and

OFFER TO PURCHASE. Constituting a DEED OF SALE. when accepted. IDENTITY NR/REGISTRATION NR: MARITAL STATUS: and OFFER TO PURCHASE Constituting a DEED OF SALE when accepted IDENTITY NR/REGISTRATION NR: MARITAL STATUS: and IDENTITY NR/REGISTRATION NR: MARITAL STATUS: Domicilium address: Postal address: (hereinafter