Furrow Creek Investments 40 CC Reg no 2008/23483/23 t/a
PRIME PORTFOLIO REAL ESTATE
OFFER TO PURCHASE
1.1
………………………………………………………………………………………………………………………
(HEREINAFTER REFERRED TO AS THE SELLER)
……………………………………………………………………………………………….……………………..
(HEREINAFTER REFERRED TO AS THE PURCHASER)
Or
……………………………………… ACTING ON BEHALF OF …………………….……..……………..
1.2
I, the PURCHASER hereby offer to purchase through the introduction of
PRIME PORTFOLIO REAL ESTATE: ERF NO/FREEHOLD ………….………………………..
SITUATED AT AND KNOWN AS (HEREINAFTER KNOWN AS THE
PROPERTY) ……………………………………………………………………………………………………..
OR
1.3
SECTIONAL TITLE UNIT CONSISTING OF
SECTION NO: …………………………………………………………………………………………………..
KNOWN AS: …………………………………………………………………………………………………….
An individual share in common property apportioned to the above section in accordance
with the participation quota of the Section
(being ………………………………………………………………………………. of the whole complex).
Exclusive right of use of Servants Quarters NO: ……………………………………………………….
Storeroom No: …………………..………………. Garage No: …………………………………………..
Carport No: …………………..………………….. Parking No: ………………………………………….
Levy estimate as at date of this offer : R ………………. Monthly total. The Purchaser shall be
liable to pay the Body Corporate a monthly levy, from the date of registration of the transfer.
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2.1 PURCHASE PRICE
The purchase price is: R …………………………….. ( ……………………………………………………
………………………………………………………………………………………………………………………
2.2 BOND FINANCE
This entire agreement is conditional upon the Purchaser or the Agent on behalf the the
Purchaser being issued with a quotation (as referred to in the National Credit Act 34 of
2005) by a Financial Institution for a loan in the sum of R…………………………………………..
or such lesser amount as the Purchaser agrees to in writing, on or before the …………………
Such loan is to be secured by a mortgage bond to be registered over the property or any
other property as indicated by the Purchaser simultaneously (or before in the case of
another property being the subject of the mortgage bond) with transfer. This condition
shall be deemed to be fulfilled upon notification by the Financial Institution to the
Purchaser or his Agent of a quotation having been issued regardless of any conditions
attaching to such quotation or attaching to the loan agreement that follows the quotation
between the Purchaser and the Financial Institution.
Should I fail to obtain such quotation, the sale will be cancelled and neither party shall
have a claim against each other. I undertake to take all necessary steps as may be required
to obtain such a quotation within the time frame stipulated.
3. DEPOSIT
3.1 The purchaser shall pay a deposit of ……………………………………………
immediately upon acceptance of this offer to the Conveyance Attorney to be held in
an interest-bearing trust account, interest to accrue to the Purchaser pending
registration of transfer (“Transfer”). An amount equivalent to the brokerage as per
clause 14 hereof, together with VAT thereon shall be paid from this deposit to Prime
Portfolio by the conveyances.
3.2 If any suspensive condition to which this offer is subject is not fulfilled, the full
deposit, together with accrued interest, shall be refunded to the Purchaser.
4. BALANCE
The balance (…………………………………) of the purchase price or the full purchase price, as
the case may be, shall be paid to the Conveyances, against Transfer. The Purchaser shall,
within seven (7) days of being requested in writing by the Conveyances to do so, furnish
them with a bank guaranteed cheque, or a guarantee/s from a financial institution/s or
other guarantee acceptable to the Seller, for payment upon Transfer of the said purchase
price or balance and any brokerage for which the Purchaser has assumed liability.
5. TRANSFER
Transfer shall be affected by the Conveyances:-
5.1 forthwith
5.2 as close to the date of occupation as possible
5.3 as close to ………./………./………. as possible
5.4 simultaneously with, or as close as reasonably possible but not
prior to,
the transfer of
……………….……………………………………………………………………
(“the other property”) which the Purchaser undertakes to cause to
be effected by ………./………./………. the Purchaser shall be
obliged to take transfer of the Property forthwith irrespective of
the transfer of the other property.
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6. TRANSFER COSTS
All costs of Transfer, including, but not limited to, transfer duty if applicable, and the costs
of registering any mortgage bond which may be required, as well as survey and diagram
fees if applicable, and any VAT payable on such costs, shall be paid by the Purchaser. The
Purchaser shall on demand by the Conveyances, pay to the Conveyances such costs as are
called for by the Conveyances from time to time.
7. OCCUPATION
Occupation of the property shall be given to and taken by the Purchaser on
………………………………………… Should the date of registration of transfer not coincide
with the date of occupation, the party enjoying such occupation
shall pay a RENTAL of …………………………………. per month, payable monthly in advance.
Should Registration of Transfer not be affected
by ……………………………………..……………………….. , the occupational rental shall increase
to ………………………………….. per month from ………………………………………………………
The Purchaser shall be obliged to vacate the property upon cancellation of the sale, for any
reason whatsoever, it being agreed that no tenancy shall be created by having taken
occupation prior to transfer.
8. RATES & TAXES / SECTIONAL TITLE LEVIES / HOMEOWNER’S
ASSOCIATION LEVIES
The Purchaser shall be responsible for all rates & taxes and / or levies in respect of the
Property from date of registration. In the event of the Seller having paid such rates & taxes
and / or levies in advance of the said date, the Purchaser shall be obliged to refund to the
Seller a pro-rata share thereof. The Seller shall be liable for any interim rates not yet
assessed up to date of registration.
9. SELLER’S OBLIGATION
The Seller shall furnish a valid (issued after the date of signature of this Agreement.
Certification of Compliance in accordance with the provisions of the Electrical Installation.
Regulations as published in the Government Notice no: 14350 dated 23 October 1992. The
Seller shall supply a certificate of compliance for the whole installation. The Seller shall at
his cost, which shall include, where necessary, any work to be carried out, furnish the
Purchaser with a valid certificate of compliance by a contractor registered with the
Electrical Contracting Board of South Africa.
10. POSSESSION AND RISK
On Transfer, possession of the Property and all the risks and benefits of ownership shall
pass to the Purchaser.
11. WARRANTIES AND UNDERTAKINGS
11.1 The Property is hereby sold voetstoots and subject to all existing servitudes. Title
Deed conditions and all other conditions which may exist in regard thereto, the
Seller not being responsible for any deficiency nor benefiting from any excess found
in the area thereof upon re-survey.
11.2 The parties hereto agree that this Agreement constitutes the entire Agreement
between them and that no warranties or representations other than those contained
herein have been made by any of the parties, or their agents nor are there any
suspensive conditions to this Agreement which are not included herein. No
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variation or consensual cancellation of the Agreement shall be of any force or effect
unless reduced to writing and signed by both parties.
11.3 The parties warrant that the information contained in the Agreement and in the
Personal Details, supplied by them, relating to them or which should reasonably be
within their knowledge, is true and correct.
11.4 The Purchaser warrants that he/she has not been introduced to the Property or to
the Seller by any party other than Prime Portfolio and that Prime Portfolio is the
effective cause of the sale.
11.5 The Purchaser warrants that the price reflected in Clause 2 hereof is the true
consideration in this transaction and that no other consideration is involved
between the parties directly or indirectly.
11.6 If there is more than one purchaser, their liability hereunder shall be joint and
several.
11.7 Where the signatory to this Agreement does not sign in a personal capacity, he/she
warrants due authorization to represent the party (“the represented party”) which
he/she purports to represent and binds himself/herself as surety and co-principal
debtor with the represented party for the due performance by it of all its obligations
in terms hereof, and agrees to sign all documents and to binds himself/herself as
surety for and co-principal debtor with the represented party as far as it may be
required by any proposed mortgagee/s so as to enable fulfillment of any conditions
in this Agreement.
11.8 The Purchaser and the Seller warrant that all the material terms of this Agreement
have adequately been explained to them by Prime Portfolio prior to signature of the
Agreement.
11.9 The parties agree that this Agreement shall in all respects, including the
interpretation and implementation thereof, be subject to the laws of the Republic of
South Africa.
12. DEFAULT
Should the Purchaser breach, or otherwise fail to comply with any of the terms and
conditions hereof and remain in default for a period of 7 (seven) days after receipt of written
notice sent by prepaid registered post, requiring such default to be remedied, the Seller
shall be entitled, but not obliged- without prejudice to any other rights he may have at law-
to cancel the Agreement forthwith and receive or retain as rouw koop, or as a genuine pre-
estimate of damages sustained, the balance of the deposit and any other monies paid by the
Purchaser after deduction of the commission payable to the Agent. Should the Purchaser
fail or refuse to pay any amount in terms of this agreement on due date thereof as
requested, said amount will accrue interest at the maximum rate applicable in terms of Act
74 of 1968 as amended. The said interest will be calculated daily and compounded
monthly and the said interest will be payable on demand.
13. FIXTURES AND FITTINGS
The property is sold with all fixtures of a permanent nature which the Seller warrants are
fully paid for and owned solely by the Seller, including;
All existing fitted carpets
Fixed lights fittings, ceiling fans and chandeliers
Curtain rods, rings, rails and blinds
Fitted cupboards, shelves and mirrors
Existing built-in oven/hob/extractor fan in good working order
TV aerial/s
Pool cleaning equipment including pool cleaner
………………………………………………………………………………………………………………….
………………………………………………………………………………………………………………….
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14. ADDITIONAL CLAUSES AND CONDITIONS: (IF ANY)
………………………………………………………………………………………………………………….
………………………………………………………………………………………………………………….
………………………………………………………………………………………………………………….
………………………………………………………………………………………………………………….
………………………………………………………………………………………………………………….
………………………………………………………………………………………………………………….
15. NOMINEE PURCHASER
15.1 The signatory as Purchaser hereby binds him/herself as surety and co-principal
debtor with the Nominee for the due performance by it of all its obligations in terms
hereof, and agrees to sign all documents and to bind him/herself as surety for and
co-principal debtor with the Nominee as far as it may be required by any proposed
mortgagee/s so as to enable fulfillment of any conditions in this Agreement, or cause
found, is unable to pay the purchase price or does not adopt or ratify the sale within
10 (ten) days after such formation.
15.2 Company / Close Corporation to be formed. The signatory as Purchaser recognizes
that he is bound to this agreement should the formation of the Company / Close
Corporation designated in clause 1.1 not take place with 30 (thirty) days of the date
of this agreement.
15.3 Purchaser acting on behalf of Principal (to be nominated within 24 hours of Offer
being made).
Name ……………………………………. Address ………………………………………………..
CC No. / Company Registration / Trust No. ………………………………………………….
16. SUSPENSIVE CONDITIONS
16.1 SALE
This offer is subject to the unconditional sale of the Purchaser’s property situated at:
………………………………………………………………………………………………………………………
………………………………………………………………………………………………………………………
free of suspensive conditions, or if suspensive conditions are present, that the suspensive
conditions are met by no later than midnight on ………………………………………….…………..
(Through the Sole Agency of Prime Portfolio Real Estate)
for the sum of R ………………………………………………………………………………………………
or such lesser amount as the Purchaser may agree to.
This clause has been inserted for the purchaser, who may at any time waive
same, unilaterally in writing.
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16.2 SUCCESSFUL REGISTRATION
This offer is subject to the successful registration of the sale of the Purchaser’s property
situated at
………………………………………………………………………………………………………………………
which has been sold to ……………………………………………………………………………………….
for a purchase price of R ……………………………………………………………………………………..
The seller acknowledges that the Purchaser will be deriving funds for the furnishing of
guarantees detailed in Paragraph 3.1 of the Agreement from the proceeds of the sale of the
above mentioned property.
This clause has been inserted for the Purchaser who may at any time waive same
unilaterally in writing.
Transfer of the Purchaser’s property will accordingly be registered prior to or
simultaneously with the transfer of the property herein sold by the Seller to the
Purchaser, and the provisions of clauses 16.1 & 16.2. (Relating to the providing of
Guarantees) shall be subject to this paragraph.
Should registration of the sale of the Purchaser’s property not be effected on or
before ……………………………., the Seller shall be entitled to resile from this
Agreement.
17. 72-HOUR RATIFICATION
Prior to fulfillment of the suspensive condition/s contained in clause 16 & clause 2.2 plus
any other suspensive conditions placed by the purchaser, the Seller retains the right to
continue marketing the property which is the subject of this Agreement, and in the event of
the Seller receiving a more favorable offer from a third party (the Seller in his sole discretion
will decide whether or not the other offer is a more favorable offer) he shall notify the
Purchaser in writing, furnishing the Purchaser with a copy of such written offer and giving
the Purchaser 72 hours’ notice, excluding Saturdays, Sundays and Public Holidays, to
waive the suspensive condition/s referred to above, and if the Purchaser fails to give the
Seller written notice of such waiver within the 72-hour period, the Seller shall be entitled to
cancel this Agreement forthwith and accept such other offer.
18. ALIENATION OF LAND ACT
(Applicable only to properties R250 000 or less)
The Purchaser shall have the right to revoke this Offer in terms of Section 29a of the
Alienation of Land Act of 1981 as amended, within 5 (five) days of signature hereof by the
Purchaser, by delivery of written notice to that effect, to the Seller or his Agent within the
said five day period. The period of five days shall be calculated with the exclusion of the
day of signature by the Purchaser and any Saturday, Sunday or Public Holiday.
19. BROKERAGE
Commission will be calculated on the purchase price at ………..% plus VAT and shall
accrue to Furrow Creek Investments 40 CC t/a PRIME PORTFOLIO REAL ESTATE , upon
signature of this Agreement by the Purchaser and Seller and fulfillment of all suspensive
conditions contained herein, and the Seller hereby irrevocably authorizes the conveyance
attorney to pay such Commission on Registration of Transfer.
Notwithstanding, the agents shall be entitled to receive payment of the commission out of
the deposit held by the conveyancer and the parties hereby irrevocably instruct and
authorize the conveyancer to pay commission out of such deposit in discharge in full, or in
the part, of the Seller’s said liability to pay commission, notwithstanding the fact that
registration of transfer is still to be effected. In such an event, no interest shall be earned
for the credit of the purchaser on the amount so paid to the agent.
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If this Agreement is cancelled by either the Seller or the Purchaser as a result of breach of
the contract, the party responsible for the breach will be liable for the commission. If the
offer is cancelled by mutual agreement between the parties, then they will both, jointly and
severally, be responsible for the agent’s commission.
This is a shared deal between PRIME PORTFOLIO REAL ESTATE
(agent) ……………………………………………………………. Of Prime Portfolio Real Estate
and
(agent) ……………………………………………….. of …………………………………………………….
Referral fee of ………………………………………. To be paid off the gross commission
including VAT, paid to ……………………………………………………………………………………….
Commission (excl. VAT)
to be shared as ……………………………………………. Prime Portfolio
…………………………………………….. ……………………………….
…………………………………………….. ……………………………….
Agent’s commission shall be borne by the Seller, provided that should the Purchaser fail to
carry out his obligations upon acceptance of this offer resulting in transfer not being passed
to the Purchaser, the Agent shall have the right to recover the commission from the
Purchaser. This Clause is binding between Seller and Purchaser and is also to be
construed as a stipulation for the benefit of PRIME PORTFOLIO REAL ESTATE . The seller
irrevocably authorizes the Seller’s Attorneys to make payment direct to PRIME PORTFOLIO
REAL ESTATE of the commission detailed above from the proceeds of the sale, upon
registration of the property into the name of the Purchaser. It is hereby recorded that
notwithstanding the fact that the sale may hereafter be cancelled by the parties by mutual
consent or unilaterally by the Seller, the Agents shall be entitled to their commission in
terms of this paragraph.
20. ACCEPTANCE
This offer is open for acceptance by the Seller until …………………………………………………...
And until then is irrevocable by the Purchaser and is binding upon acceptance hereof,
without the Purchaser having been notified of the Seller’s acceptance hereof. This
document shall constitute the entire contract between the parties and no representations
made by, or on behalf of, either party shall be of any force or effect unless written into this
agreement.
21. DOMICILIUM OF THE PARTIES
The Seller and the Purchaser choose domicilium citandi et executandi at the following
addresses:
……………………………………..……………………………………………………………………………….
…………………………………………………………..………………………………………………………….
The Seller
…………………..………………………………………………………………………………………………….
………………………………………..…………………………………………………………………………….
The Purchaser
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22. THUS DONE AND SIGNED BY THE SELLER AT …………………………………………….
ON THIS THE ………………. DAY OF …………………………………………………………….
AS WITNESSES:
……………………………………..… …………………………….…………………………….
SELLER 1
………………………………………. …………………………………………………………..
SELLER 2
THUS DONE AND SIGNED BY THE PURCHASER AT ……………………………………….
ON THIS, THE ………………… DAY OF ………………………………………………………….
AS WITNESSES:
……………………………………..… ……………………………………………….………….
PURCHASER 1
………………………………………. …………………………………………………………..
PURCHASER 2
Assisted by me, the Purchaser’s spouse/being also personally bound, jointly and
severally, to the provision above by my signature hereto.
And I …………………………………………………………………………………………………….
(spouse/director/partner/other) of the Purchaser do hereby agree to bind myself as
surety and co-principal debtor for the Bond, (jointly and severally).
Signed …….………………………………
Agents Name: ……………………………
Signed: …………………………………..
I, the above signed agent hereby certify that this document has been completed in
accordance with Regulation R1469 dated 20 June 1990, of the Estate Agents Board.
Principal: ……….………………………….. Date: ………………………………………..
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INFORMATION SHEET
SELLER PURCHASER
First Names
Surname
Identity Number
Income Tax Number
Date of Birth
Marital Status
ANC with / without
accrual
COP
Unmarried / Foreign
Date of Marriage
Spouse’s Identity
Number
Present Postal Address
Present Home Address
Business Address
Home Telephone
Work Telephone
Work Telephone
Cell Phone
Cell Phone
E-Mail Address
Existing 1st Bond Holder: Balance of Purchase price from:
Bond a/c number: a) Sale of own house:
Conveyancer:
Existing 2nd Bond Holder
Property:
Where are Title Deeds?
Seller’s Attorneys: Purchaser:
Electrical Certificate arranged by: b) Cash: (Specify source):
Borer Beetle Certificate required? Y or N c) Bank/s applied to for Bond:
If Yes, to be arranged by:
ATTACH THE FOLLOWING:
Copies of ID Books (All Parties)
Copy of marriage certificate
Entire Ante-Nuptial Contract (If Applicable)
Divorce Order (If Applicable)
Title Deeds (If in owner’s possession)
Trust Documents (If Applicable)
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