Deed of Sale

DEED OF SALE

MEMORANDUM OF AGREEMENT MADE AND ENTERED INTO BY AND BETWEEN

NAME…………………………………………………………………………………………………….

ID NO or Date of Birth…………………………………………………………………………………..

Marital Status:……………………………………………………………………………………………

and

NAME…………………………………………………………………………………………………….

ID NO or Date of Birth…………………………………………………………………………………..

Marital Status:……………………………………………………………………………………………

Of………………………………………………………………………………………………………………………………………………………………………………………………………………………

(hereinafter called the “Seller”)

and

NAME…………………………………………………………………………………………………….

ID NO or Date of Birth…………………………………………………………………………………..

Marital Status:……………………………………………………………………………………………

and

NAME…………………………………………………………………………………………………….

ID NO or Date of Birth………………………………………………………………………………….

Marital Status:…………………………………………………………………………………………..

of………………………………………………………………………………………………………………………………………………………………………………………………………………………

(hereinafter called the “Purchaser”)

Prepared by:
STBB Smith Tabata Buchanan Boyes Attorneys
2nd Floor, Buchanan’s Chambers
Corner Warwick Street & Pearce Road
Claremont, 7708
Tel: 021 673-4700 /

The Seller sells and the Purchaser buys the under mentioned property (hereinafter called the “property”) together with buildings and erections thereon, if any, known as:

ERF……………………………, IN EXTENT: ……………sq. meters;

DWELLING SIZE: ………………. sq. meters;

ROOF TYPE / WALL CONSTRUCTION:……………………………/……………………………..

situated at………………………………………………………………………………………………

1. PURCHASE PRICE

The purchase price payable by the Purchaser to the Seller is the sum of R………………………….. (…………………………………………………………………… ………..………………………………………………………………………………………….)

and shall be paid as follows:-

1.1 A deposit of R…………………………. (……………………………………………...

……………………………………………………………………………………………)

within 7 (seven) days from date of signature of this deed of sale, to be held in trust in an interest-bearing account by the Transferring Attorneys until date of registration, the interest to accrue to the Purchaser.

1.2 The balance of the purchase price on registration of transfer. Upon being so requested, the Purchaser shall, within 14 (fourteen) days of such request, furnish a written guarantee for payment of such balance by a Bank or financial institution acceptable to the Transferring Attorneys.

2. EXPIRY

This offer shall be irrevocable until ………………... on the ……………………………….,

by when the Seller shall have accepted or rejected the offer, failing which it shall lapse.

3. POSSESSION AND OCCUPATION

Possession and vacant occupation/occupation subject to existing tenancies of the property, shall be given to the Purchaser on ………………………………………………..

4. RISK

The property shall remain at the risk of the Seller until the date of possession or transfer, whichever is the earlier, from which date the property shall be at the sole risk of the Purchaser.

5. CONSIDERATION FOR OCCUPATION

Should the date of occupation not coincide with the date of registration of transfer, the party in possession shall pay to the registered owner a consideration of R……………………………. per month.

6. TRANSFER

Transfer of the property shall be passed by the Transferring Attorneys, ………………………...…………………, and shall be given and taken as close to possession as possible.

7. COSTS OF TRANSFER AND SHARE OF RATES

The Purchaser is liable for all the costs of transfer of the property to the Purchaser, including transfer duty, conveyancing fees according to tariff, Deeds Office fees and other such usual costs of transfer. The Purchaser is, furthermore, liable for a pro rata share of rates and taxes, or levies, as from the date of possession.

Any amount(s) due shall be paid by the Purchaser on demand to the Transferring Attorneys.

8. VOETSTOOTS

The property is hereby purchased and sold voetstoots as it now stands, subject to all the registered conditions and servitudes contained or referred to in the current Title Deeds to the property. The seller warrants that, as at the date of acceptance of this offer, that there are no latent defects of which he/she/it is aware, relating to the property.

9. BREACH OF CONTRACT

In the event of the Purchaser failing to fulfil on due date any of the terms and conditions of this Deed of Sale, the Seller or his Agent, shall have the right either:

9.1 To cancel the sale by registered letter addressed to the Purchaser, in which event the purchaser shall forfeit all monies paid to the Seller or his Agent in terms hereof, without prejudice to the Seller’s other legal rights and remedies and the right to claim damages; or

9.2 To claim immediate payment of the whole of the Purchase price and the fulfillment of all the terms and conditions hereof.

10. DOMICILIUM

It is agreed by the parties that their respective addresses set out herein shall be the addresses to which all notices or other documents in respect of this agreement may be sent.

11. BEETLE INSPECTION

11.1 The accessible portions of the property shall be inspected at the Seller's expense by a duly qualified expert, for apparent infestation by Hylotrupes Bajulus and Oxypleuris Nodieri beetles, and if infestation by such beetles be found, the infested timber shall be replaced at the Seller's expense, prior to occupation or transfer, whichever is earlier.

11.2 Apart from such replacement there shall be no further responsibility on the part of the Seller in connection with any infestation by beetles.

11.3 Any free-standing structures not constituting residential premises such as wendy-houses, garden sheds, fences or similar structures shall not constitute accessible portions of the property and accordingly shall not require inspection or replacement.

12. ELECTRICAL INSTALLATION CERTIFICATE

The Seller shall, at its cost, deliver to the Purchaser on or before the transfer date a certificate of compliance in regard to the electrical installations on the property in terms of the Electrical Installation regulations made by the Minister of Labor under Section 43 of the Occupational Health and Safety Act No 85 of 1993. The Seller undertakes not to alter any of the electrical installations after the issue of the said certificate.

13. GAS COMPLIANCE CERTIFICATE

13.1 The Seller shall, at its expense, deliver to the Purchaser, on or before the transfer or occupation date, whichever is the earlier, a Certificate of Conformity issued by an authorized person as defined in the Pressure Equipment Regulations 2009 made by the Minister of Labor under section 43 of the Occupational Health and Safety Act 85 of 1993, to the effect that the gas installation on the property conforms to the required health and safety standard.

13.2 The Seller undertakes not to alter, install or remove the gas installation after issue of the said Certificate. In so far as the authorized person appointed by the Seller to provide such Certificate requires corrective work to be carried out as a precondition to the issue of such Certificate, the Seller will procure such work is carried out at the Seller’s cost and expense.

13.3 Existing Certificates shall not pre-date the date of acceptance of the Agreement of Sale by more than 2(two) years.

14. PLUMBING CERTIFICATE

14.1 The Seller shall at its expense, submit a Certificate from an accredited plumber to the City of Cape Town Municipality, certifying that the water supply to the Property conforms with the requirements stipulated in Section 14 of the City of Cape Town: Water By-law 2010.

14.2 The Seller undertakes to submit the said Certificate to the City of Cape Town via fax or email, and to furnish proof of such submission to the transferring attorneys.

14.3 Insofar as the accredited plumber appointed by the Seller to provide such Certificate requires corrective work to be carried out as a precondition to the issue thereof, the Seller will procure such work is carried out at its cost and expense.

15. ELECTRIC FENCE CERTIFICATE

The Seller shall at the Seller’s expense provide the Purchaser with an Electric Fence System Certificate of Compliance (“the Certificate”) prior to the date of such occupation by the Purchaser or transfer, whichever is the earlier date. Such Certificate shall confirm that the electric fence installation and system is deemed to be reasonably safe when properly used and be issued by a registered electric fence installer in accordance with the provisions of Regulation 12(4) and 13(1) of the Electrical Machinery Regulations of 2011. Should remedial work be required to be done to the issuing of the Certificate, it shall be attended to at the Seller’s expense. Such Certificate shall not predate the Agreement of Sale by more than 2 (two) years.

16. MORTGAGE LOAN

The sale is subject to the Purchaser being granted a loan of not less than the amount of R……………………………….. (……………………………………………………………

.……………………………………… Rand) by a bank and/or financial institution. Should the Purchaser’s loan not be approved in writing by ………………………….., or within such reasonable extended period as the Seller in his/her sole discretion may allow, this agreement shall lapse and all monies paid shall be refunded to the Purchaser.

17. AGENT’S COMMISSION

Commission calculated at the rate of 7.5% VAT Exclusive (Vat no. 4730226505) of the Purchase price, shall be paid by the Seller to Werner Property Agents on registration of transfer. The Transferring Attorneys are irrevocably authorized to pay the said commission as a first draw against the proceeds of the sale. In the event of breach of the agreement by the Purchaser, the Purchaser shall be liable for payment of the commission.

18. COOLING OFF

As provided in terms of section 29A of the Alienation of Land Act 68 of 1981, the Purchaser shall have 5 (five) working days from signing this offer to revoke or terminate this offer, by written notice to the Seller. Should the Purchaser sign another offer to purchase or agreement of sale within the aforesaid 5 (five) days, he/she shall be deemed to have revoked or terminated this offer and shall give the required notice to the Seller, failing which the Purchaser shall be guilty of an offence and, upon conviction, liable to a fine and/or imprisonment.

19. FIXTURES AND FITTINGS

The Property is sold with all fixtures and fittings of a permanent nature 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.

20. SALE OF OTHER PROPERTY

20.1 This offer is subject to, and conditional upon the sale of the Purchaser’s property at ………………………………………………………………………….. ……………………………………………………………………………………………. (“the other property”) by no later than …../…../…….. or such extended period as the Seller, in his/her sole discretion, may allow by notice in writing to the Purchaser, at a purchase price of not less than R…………………………………. (……………………………………………………………………………………………

……………………………………………………………………………………………)

or such lesser amount as the Purchaser may accept. It is specifically recorded that this suspensive condition shall not be regarded as having been fulfilled until all suspensive conditions to which such sale is in turn subject to, are fulfilled. The Purchaser undertakes that the transfer of the other property will take place simultaneously with or prior to the Transfer of the Property. This condition exists for the benefit of the Purchaser who may unilaterally waive compliance therewith.

20.2 The Seller may continue to market the Property until such time as the suspensive condition relating to the sale of the other property has been fulfilled. Should the Seller, during this time, receive another acceptable unconditional offer (“the competing offer”) to purchase the Property, he/she will have the right to call upon the Purchaser by notice in writing, to waive all suspensive condition to which this offer is subject, thereby making this sale unconditional, within 3 (three) days (excluding weekends and public holidays) of the date when such notice is delivered to the Purchaser, or such extended period as the Seller in his/her sole discretion may allow (“the waiver period”). Such notice shall include a copy of the competing offer. If the Purchaser fails to waive his/her rights in writing within the waiver period, the Seller shall be entitled, but not obliged, to accept the competing offer, upon which this sale shall lapse and be null and void.

21. SPECIAL CONDITIONS

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

…………………………………………………………………………………………………….…………………………………………………………………………………………………….…………………………………………………………………………………………………….…………………………………………………………………………………………………….…………………………………………………………………………………………………….

…………………………………………………………………………………………………….…………………………………………………………………………………………………….

SIGNED AT……………………………………………….this…………………..day of ……………..………………….

AS WITNESSES:

1. ………………………………………

2. ……………………………………… …………………………………….

SELLER

SIGNED AT……………………………………………….this ………………..day of ..……………………………….

AS WITNESS:

1. …………………………………..

2. ………………………………….. …………………………………….

PURCHASER

INFORMATION FOR CONVEYANCER

FULL NAMES

PRESENT ADDRESS

POSTAL ADDRESS

FUTURE ADDRESS

PLACE & DATE OF BIRTH

HOW MARRIED &

COUNTRY OF MARRIAGE

IDENTITY NO./ DATE OF BIRTH

TELEPHONE NO’S

RESIDENTIAL

BUSINESS

FAX

CELLULAR

E-MAIL

PURCHASER

……………………………………….

……………………………………….……………………………………….……………………………………….

SPOUSE

……………………………………….

……………………………………………………………………………………………………………………………………………………………………………………………………….

INFORMATION FOR CONVEYANCER

FULL NAMES

PRESENT ADDRESS

POSTAL ADDRESS

FUTURE ADDRESS

PLACE & DATE OF BIRTH

HOW MARRIED &

COUNTRY OF MARRIAGE

IDENTITY NO./ DATE OF BIRTH

TELEPHONE NO’S

RESIDENTIAL

BUSINESS

FAX

CELLULAR

E-MAIL

SELLER

……………………………………….

……………………………………….……………………………………….……………………………………….

SPOUSE

……………………………………….……………………………………….……………………………………….……………………………………….……………………………………….……………………………………….……………………………………….……………………………………….……………………………………….……………………………………….……………………………………….……………………………………….

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