7
OFFER TO PURCHASE
which constitutes a deed of sale when it has been accepted
SELLER: ______
ADDRESS OF SELLER: ______
TELEPHONE: ______
EMAIL: ______
PURCHASER: ______
ADDRESS OF PURCHASER: ______
TELEPHONE: ______
EMAIL: ______
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1. OFFER TO PURCHASE
The Purchaser hereby offers to purchase the Property described below, for the Purchase Price and upon the terms and conditions herein set out.
The parties acknowledge that when the offer made herein has been duly accepted by the seller, this document shall constitute a binding agreement of sale between them.
2. PROPERTY
The property which constitutes the subject of this Offer to Purchase is:
ERF / PORTION No ______of the Farm No. 1089 in the City of Cape Town, Division Stellenbosch, Western Cape Province
In Extent: ______
Located in Wedderwill Estate, Sir Loqwry's Pass.
3. PURCHASE PRICE
The Purchase Price for the Property is the sum of:
R ______payable as follows:
3.1 A deposit of R ______shall be paid
within 3 (three) days of acceptance of this Offer to Purchase and shall be paid the Seller's Conveyancers to be held by them in trust on an interest bearing account for the benefit of the Purchaser until required by the Conveyancers for the registration of transfer.
3.2 The balance of the Purchase Price shall be paid to the Seller's Conveyancers against the registration of transfer.
3.3 The Purchasers shall furnish the Conveyancers with a suitable guarantee issued by a registered financial institution, for payment of the purchase price, within 10 (ten) days of being requested to do so, after the fulfilment of any suspensive conditions contained herein.
3.4 If the Seller is a VAT vendor in terms of the Value Added Tax Act, the Purchase Price shall EXCLUDE VAT and the Purchaser shall be liable for the payment of VAT at the applicable rate in addition to the Purchase Price.
4. OCCUPATION & POSSESSION:
Provided that the Purchaser shall have signed all necessary transfer and bond documents, paid all required transfer and bond registration costs and is not otherwise in breach of any of the provisions hereof, possession and vacant occupation of the Property shall be given to the Purchaser on:
______
5 OCCUPATIONAL RENTAL:
The Purchaser shall be liable for the payment of Occupational Rental at the rate of
R ______per month from the Date of Occupation until the Date of Transfer, which payments shall be made to the Seller's Conveyancers, monthly in advance on the first day of each month.
6. TRANSFER OF OWNERSHIP:
6.1 Transfer of ownership of the Property shall be effected by the Seller's Conveyancers and shall be registered at the Deeds Office at Cape Town on:
______or as soon as possible thereafter (herein referred to as the Date of Transfer).
6.2 All costs of and incidental to the registration of transfer of ownership to the Purchasers, shall be borne by the Purchasers and such costs shall be payable to the Conveyancers upon request by them.
7. RISK:
7.1 The property shall remain at the risk of the Seller until the date of registration of transfer and the Seller undertakes to take all reasonable steps to protect the Property until that date, including, but not limited to, the maintenance in force of any relevant insurance policies in respect of the Property.
7.2 From the Date of Occupation and Possession, if such date is earlier than the date of registration of transfer, the Purchaser shall assume the risk and be entitled to the benefits of the Property and shall be responsible for the payment of all rates and charges levied by the City of Cape Town and the Wedderwill Homeowners Association in respect of the Property.
8. AGENTS COMMISSION:
8.1 The Seller shall pay commission calculated at ______% of the Purchase Price, Plus VAT on such commission, to HIGHBERRY FARMS CC t/a WEDDERWILL PROPERTIES (hereafter referred to as Wedderwill Properties) , which commission shall be deemed to have been earned upon acceptance by all the parties. It is due and payable on the Date of Transfer and the Conveyancers are hereby irrevocably authorised and instructed by the Seller to pay the commission to Wedderwill Properties.
8.3 In the event that this agreement is cancelled, Wedderwill Properties shall nevertheless be entitled to payment of the commission contemplated herein and the parties agree that the commission may be appropriated from the deposit held by the Seller's Conveyancers and if the deposit is insufficient to cover the amount due in respect of commission, the parties shall jointly and severally be liable for any shortfall.
9. BOND FINANCE
9.1 The sale constituted by the acceptance of this Offer to Purchaser is subject to the Purchaser being granted approval of a loan on security of the Property for an amount of:
R______on such terms and conditions as are customarily imposed by mortgage lending financial institutions.
9.2 The loan must be approved on or before ______or such extended period as the Seller may in his sole discretion allow in writing, failing which this Agreement shall be cancelled automatically and any deposit paid in terms hereof shall be refunded and no commission is payable to the agent.
9.3 This condition shall be deemed to have been fulfilled on the date upon which the financial institution issues a written loan quotation to the Purchaser.
9.4 This condition is inserted for the benefit of the Purchaser who may waive compliance therewith by written notice to the Seller.
10. FIXTURES AND FITTINGS
The Property is sold with all fixtures and fittings of a permanent nature including automatic garage door and gate mechanisms, burglar alarm system, burglar bars, security gates, built-in oven, hob and extractor, satellite dish, swimming pool pump and automatic pool cleaning equipment, and the following items:
______
11. LIMITATION OF SELLER'S LIABILITY
11.1 The Property is sold as described in the Seller's Title Deed and subject to all and any conditions and/or servitudes attaching to the Property or which will be or have been imposed in respect of the rezoning and/or subdivision of Farm 1089 of which the Property forms a part.
11.2 The seller shall not be responsible for any deficiency in the extent of the Property which may be revealed by any survey or re-survey thereof, nor shall the Seller benefit from any excess therein. The Seller shall not be responsible for pointing out the beacons of the Property, nor for the cost of fixing and erecting or inserting beacons or pegs required by the Purchaser.
11.3 The Property is sold Voetstoots as it stands and the Seller shall not be liable for any latent or patent defect in the Property, save for such defects as are recorded herein or in an annexure hereto which has been signed by the Seller.
11.4 The parties acknowledge that this agreement constitutes the entire agreement and understanding between the parties and that the Seller shall not be liable for any warranties, indemnities or undertakings made to the Purchaser, whether by the Seller or by any person acting or purporting to act on behalf of the Seller, save as may be expressly set out herein.
11.5 No amendment, addition or cancellation hereof shall be valid unless it is in writing and signed by or on behalf of both parties.
12. WEEDERWILL HOME OWNERS ASSOCIATION
The Purchaser acknowledges that he is aware that the Property is governed by the WEDDERWILL HOME OWNERS' ASSOCIATION (hereinafter referred to as WHOA) and that upon registration of transfer the Purchaser will automatically become a member of WHOA and be bound by the provisions of the constitution of the Association and any architectural guidelines and house rules laid down from time to time by WHOA. The Purchaser acknowledges further that he has received a copy of the constitution and the house rules and that he has read and understood those.
The Purchaser agrees that upon the re-sale of the Property in the future, the terms of this clause 12 and the Annexures hereto marked A, B and C, shall be included a part of any agreement of sale of the Property.
13. DEFAULT
In the event of either party failing to comply with any of the terms and conditions of this agreement and failing to remedy such failure within 10 (ten) days of written notice having been given to do so, the aggrieved party shall have the right to either :-
13.1 Claim specific performance of the defaulting party's obligations under the terms of the agreement; or
13.2 Cancel the agreement and claim such damages as might have been suffered by the aggrieved party.
13.3 In the event of cancellation due to the default of the Purchaser, the Seller shall, in addition to any other remedies that it may have in Law, be entitled to retain the deposit paid by the Purchaser, as liquidated damages.
14. COMPLIANCE CERTIFICATES
The Seller shall at its own expense and prior to the Date of Transfer, arrange for the following:
14.1 Beetle Certificate:
· to have the accessible portions of the buildings, but specifically excluding any free-standing structures not forming part of the residential premises (any wendy houses, garden sheds, car ports, fences and similar structures) inspected by a duly qualified and approved expert for infestation by either hylotrupes bajulus or oxypleuris nodieri beetles (not furniture beetles);
· the treatment and/or replacement of any timbers so infested, with new and pre-treated timber, prior to registration of transfer;
· an Certificate from the expert to the above effect.
14.2 Electrical Compliance Certificate
· to furnish the Purchaser with a valid Certificate of Compliance in respect of the property, in terms of the Electrical Installation Regulations of 1992.
· All costs incurred in obtaining such certificate of compliance, including the cost of any repairs or replacements required in order for the certificate to be issued, shall be borne by the Seller.
14..3 Water/Gas Installation Certificate
· to furnish the Purchaser with a valid Certificate of Compliance in respect of the property, in terms of Section 14 of the City of Cape Town Water By-Law of 2010.
· in the event that a gas installation exists on the Property, to furnish the Purchaser with a Certificate of Conformity issued by an authorised person in terms of Government Regulation No. 734 of 2009.
· All costs incurred in obtaining such Certificate of Conformity including the cost of any repairs or replacements required in order for the certificate to be issued, shall be borne by the Seller
15. EXPIRY OF OFFER
This Offer to Purchase is irrevocable and shall remain open for acceptance by the Seller
until ______on ______and shall be deemed to be accepted on signature hereof by the Seller irrespective of when notification of acceptance is given to the Purchaser.
Signed by the Purchaser at ______on ______
______
PURCHASER AS WITNESS
The offer herein set out is accepted by the Seller at ______at the time of
______on the date of ______
______
SELLER AS WITNESS
INFORMATION REQUIRED FOR TRANSFER
SELLER : (Full names) ______
ID / Passport No: ______
Income Tax No: ______
Marriage status: Unmarried / Married in community of property/ Married out of community of property
Residential Address: ______
______
Telephone: ______
Email: ______
PURCHASER: (Full names) ______
ID / Passport No: ______
Income Tax No: ______
Marriage status: Unmarried / Married in community of property/ Married out of community of property
Residential Address: ______
______
Telephone: ______
Email: ______
Conveyancer: ______