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SECTIONAL TITLE CONTRACT Negotiated by

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									SECTIONAL TITLE CONTRACT

Negotiated by: ……………………….………………………………………………….

Date of Sale:………………………………………………..


1. SELLER:………………………………………………………………(I.D…………………….)

  and ……………………………………………………………………(I.D………………….....)

  of…………………………………………………………………………………………………..


2. PURCHASER:……………………………………………….……… (I.D.…...……………….)

  and ………………………………………………….…………………(I.D…….……………...)

  of…………………………………………………………………………………………………..

  Service of any communication, notice or legal process in relation to this Agreement at
  the addresses reflected above for the Seller and the Purchaser, respectively, shall be
  deemed adequate notice in terms hereof. Any notice given by the one party to the
  other and dispatched by registered post shall be deemed to have been received by the
  addressee on the fifth day after the date of such posting.

  the following property, __________________________________________________
  comprising of:

  1. Section No. __________ being Unit No. _____________
  2. Section No. __________ being Unit No. _____________

  and any exclusive use areas attributed to the property, comprising of, but not limited to
  the following:

  (a) parking bay no.               ____________
  (a) garage no.                    ____________
  (a) storeroom no.                 ____________


  together with the undivided share(s) in the common property, as shown on the
  Sectional Plan, apportioned to the aforesaid section(s) in accordance with the
  participation quota of the said section(s) as specified in a schedule incorporated in the
  Sectional Plan, which property is situated at:

  ------------------------------------------------------------------------------------------------------------------
     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 there are no latent defects of which he
     is aware, relating to the property.

3. PURCHASE PRICE: Shall be the sum of R ……………………………….………………..

     (…………………………………………………………………………………………………)

1. DEPOSIT: The Purchaser shall pay a deposit of R………………………………………
   (……………………………………………………………………………………………….)
   on or before ………………………….. to The Conveyancer to be held in Trust in an
   account bearing interest, for the benefit of the Purchaser until registration of transfer.
   Thereupon Just Buying Properties cc authorised to deduct its Brokerage plus VAT
   thereon, as a first charge and forward:


1.      the interest to the Purchaser; and

2.      the balance of the deposit to the Seller’s Conveyancers (“the Conveyancers”).

2. The balance of the purchase price shall be paid to the Conveyancers against
   registration of transfer. When requested by the Conveyancers, the Purchaser shall
   furnish a guarantee by a Bank, or other Financial Institution accepted by the Seller,
   covering payment of such balance. The Purchaser shall furnish such guarantee within
   14 days of the Conveyancer’s request.

3. All payments shall be made, free of exchange and bank charges, in Cape Town.

4. BROKERAGE: Brokerage in accordance with the recommended tariff of the Institute
   of Realtors of South Africa (Cape Town and Western Branch) plus VAT thereon, shall
   be payable by the Seller and deducted as a first charge from the deposit referred to in
   Clause 4.1. above, upon registration of transfer. Where no deposit is paid to The
   Conveyancer, the Seller hereby instructs the Conveyancers irrevocably and in rem
   suam to pay the said Brokerage plus VAT thereon, as a first charge, to Just Buying
   Properties cc upon registration of transfer. The Seller hereby cedes to Just Buying
   Properties cc, in securitatem debiti such portion of the Seller’s claim against the
   Purchaser as constitutes the Brokerage plus VAT thereon due to Just Buying
   Properties cc.

5. MORTGAGE BOND: This Agreement is subject to the suspensive condition that the
   Purchaser’s application for a loan be approved upon the security of a mortgage bond
   or bonds over the property, by a Financial Institution, or an appropriate employer for
   the sum of       R…………..………………….(………………………………………………
   ……………………………………………………………………………………………..……)
   or such lesser amount as the Purchaser may accept. This suspensive condition shall
   be deemed to be fulfilled once the Purchaser’s application for the said loan is approved
   in writing by the grantor thereof provided that such written approval be granted no later
   than……………………………………………….. or within such reasonable extended
   period as the Seller or his agent in his/her sole discretion may allow. For the purpose
   of obtaining the loan required, the Purchaser binds his utmost good faith in pursuing all
   reasonable sources of mortgage finance as contemplated in this clause, and to that
   end Just Buying Properties cc is hereby appointed as the Purchaser’s agent. Should
   the Purchaser’s application(s) not be granted timeously by the grantor(s), this
   Agreement shall terminate and all monies paid pursuant to it shall be refunded.
6. POSSESSION: Possession shall be given to the Purchaser, with vacant occupation
   subject to any lease or tenancy which may exist, on:………...………………………..from
   which date:

1. all revenue accruing from and expenditure in respect of the property shall be for the
   account of the Purchaser, on a pro rata basis,

2. the property shall be solely at the Purchaser’s risk and for his profit or loss, and

3. the Purchaser shall be responsible for insurance of the property against fire, riot,
   storm, earthquakes and such other risks as the Seller and the Purchaser for their
   respective rights and interest pending registration of transfer. Should the Purchaser fail
   to do so, the Seller shall be entitled to effect such insurance and to recover all costs
   incurred in that regard from the Purchaser.


7. TRANSFER: Transfer shall be effected by the Seller’s Conveyancers and given by the
   Seller and taken by the Purchaser on ……………………………………………………...
   or as soon as possible thereafter. All costs of transfer plus VAT thereon, including
   transfer and stamp duty shall be payable by the PURCHASER, who shall sign all
   necessary documents and settle all costs in connection with transfer immediately upon
   request by the Conveyancers.

8. CONSIDERATION FOR OCCUPATION: Should the date of possession or where
   applicable, occupation, precede the date of registration of transfer, the Purchaser shall
   pay to the Conveyancers for disposal to the Seller a consideration, monthly in
   advance, the sum of R…………………………..…….… (……………………………….
   …………………………………………………………………………………………………)
   per month from the date of possession / occupation to the date of transfer;
   alternatively, should the Seller remain in occupation of the property subsequent to
   registration of transfer, the Seller shall pay to the Purchaser, upon the same terms and
   conditions as contained in this clause, mutatis mutandis, the monthly consideration
   stipulated above. The Conveyancer on a pro rata basis shall refund the party paying in
   such consideration after transfer. Clause 7.1,7.2 and 7.3 will also be applicable in the
   event of occupational been before registration.

9. BEETLE INSPECTION: Prior to the registration of transfer Just Buying Properties cc
   shall arrange, at the Seller’s expense and if required by the Purchaser in writing within
   14 (Fourteen) days from the last date of the signing of this agreement, to have the
   accessible portions of the property, inspected by a contractor registered with the South
   African Pest Control Association for infestation by Oxypleurus Nodienri and Hylotrupes
   Bajulus and shall treat or replace with pre-treated timber and timber found to be so
   infested.

11. ELECTRICAL CERTIFICATE: The Seller shall, Prior to registration of transfer, furnish
    the Purchaser with a valid “Electrical Certificate of Compliance” (as prescribed by law)
    covering the property. All expenses incurred in meeting the criteria for the issue of
    such certificate, including the certificate itself, shall be borne by the Seller. The Seller
    furthermore warrants to the Purchaser that to the best of his knowledge and belief
    there has been no addition nor alteration to the electrical installations on the property
    since the issue of such certificate. Upon the Seller furnishing the Purchaser with the
    said “Electrical Certificate of Compliance”, the Purchaser shall have no claim
    whatsoever in this regard against the Seller and no further liability therefor shall rest
    upon the Seller.
1. BREACH: In the event of the Purchaser failing to fulfil any of his obligations in terms
   hereof and remaining in breach for a period of seven (7) days after the Seller has given
   the Purchaser notice in writing calling upon the Purchaser to remedy such breach, the
   Seller shall be entitled (without prejudice to any other rights which the Seller may have
   at Law), either to:
1.             Hold the Purchaser to the Contract in which event the full purchase price
       becomes payable immediately; or
1.     Cancel the Contract and, after payment of Just Buying Properties cc brokerage
       plus VAT thereon
2.     retain the amounts paid on account of the purchase price as liquidated damages;
       or
3.     claim all damages suffered by the Seller by reason of the said breach, the
       Purchaser hereby authorizing the Seller to retain any amounts paid under this
       Agreement and to deduct such amounts from the damages sustained by the Seller.



2. FIXTURES: The property is sold with all fixtures, fittings, and accessories, including
   those listed below:         (a)  fixed light fittings and chandeliers, (b) built-in
   oven/hob/extractor fan, (c) TV aerial/s and digital satellite dish, (d) pool cleaning
   equipment including automatic pool cleaner, pool pump and filter, (e) automatic garage
   door mechanism with remote control/s, (f) burglar alarm system, (g) irrigation system,
   all of the above in good working order; (h) all fitted carpets, (i) curtain rods, rings,
   rails and blinds, (j) fitted cupboards, shelves and mirrors, fitted burglar bars and
   security gates. (delete unapplicable)

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

   The Seller hereby warrants that he has the right to sell the property and the above-
   listed items.

3. SPECIAL CONDITIONS:
   This offer shall be subject to the sale of the Purchaser’s property situated at
   …………………………………………………………………………………………………….
   and the fulfillment of all suspensive conditions attached thereto on or before
   ………………………………………………… or such extended period as the Seller in his
   sole discretion may allow.

   Should the Seller prior to the fulfillment of all suspensive conditions herein, receive
   another unconditional offer which he in his sole discretion wishes to accept, then the
   Seller shall be obliged to notify the Purchaser in writing of his intention. The Purchaser
   shall then have 3 (three) working days after receipt of such notification to waive in
   writing the benefit of all suspensive conditions herein, thereby binding himself
   unconditionally and declaring himself financially able to fulfill his obligations herein to
   purchase this property, failing which, this Agreement shall automatically lapse and be
   of no force and effect.
   ……………………………………………………………………………………………………
   ……………………………………………………………………………………………………
   ……………………………………………………………………………………………………
   ……………………………………………………………………………………………………
   …………………………………………………………………………………………………….
4. The parties hereto acknowledge that the aforegoing when accepted by the Seller or
   Purchaser shall constitute the entire contract between them and no other conditions,
   stipulations, warranties or representations whatsoever have been made by either party
   of such as may be included herein or subsequently recorded in writing signed by or on
   behalf of the parties. The Seller shall not benefit by any excess or be liable for any
   deficiency in the area of the property nor shall he be liable for any encroachment on
   and / or of any adjoining property. The Seller shall not be required to indicate to the
   Purchaser the position of beacons or boundaries of the property nor be liable for the
   cost of locating same.

5. The first signature to this Agreement shall constitute an offer and such is irrevocable
   until……………….….              on    ……………………………………………………..20……
   whereafter it shall expire. Just Buying Properties cc are hereby irrevocably appointed
   as agents for the Seller and the Purchaser for the purpose of receiving a
   communication of acceptance. Notice to Just Buying Properties cc shall be deemed
   notice to its Principals.

6. The Seller hereby declares and warrants that the purchase price reflected in Clause 4
   of this Agreement of Sale is the true consideration in this transaction and that no
   allowance, discount, premium or other consideration is to pass between the parties,
   directly or indirectly, so as to affect the purchase price.

7. The Purchaser records that, subject to the fulfillment of any suspensive condition in
   this Agreement, he is financially able to fulfil his obligations herein, but that should the
   Seller cancel this Agreement as a consequence of the Purchaser being in breach
   hereof, the Purchaser hereby assumes, without recourse, the Seller’s liability for
   Brokerage plus VAT thereon, whereupon Just Buying Properties cc shall be entitled
   but not obliged to pursue all its claims for such Brokerage plus VAT thereon, or where
   applicable for damages, against the Purchaser.

8. Alienation of Land Act: This offer is subject to the terms and conditions as contained in
   Section 29A of the amended Alienation of Land Act no 103 of 1998 for a period of 5
   (five) working days after signing of this offer. This clause will not be applicable if this
   offer exceeds R250 000,00 or if the Purchaser reserved a right to nominate a third
   party.

9. The Purchaser acknowledges that he has been introduced to the property by Just
   Buying Properties cc and that Just Buying Properties cc is the effective cause of the
   sale of the property.

10. The parties to this Agreement acknowledge that a representative of Just Buying
    Properties cc has explained the meaning and consequences of this document to them.

11. Just Buying Properties cc are authorized to affix a “SOLD” board on the property, once
    sold, for a period of 90 days.

23.    LEVIES

       23.1    The Seller shall remain liable to pay the levy up to and inclusive of the date
               of registration of transfer of the property in the Purchaser/s name, after
               which date the obligation to do so shall pass to the Purchaser/s. Should the
               levies have been paid beyond the date of registration, then the Purchaser/s
               shall re-imburse the Seller pro rata.

       1.      The current levy is R __________________.
24.    RIGHT TO EXTEND THE SCHEME

It is hereby recorded that the developer / Body Corporate has a real right to extend the
Scheme, pursuant to the provisions of Section 25 of the Sectional Titles Act of 1986.

SIGNED BY THE PURCHASER at…………………………. on…………………………200..

AS WITNESSES:
1. ……………………                 …………………………….                  ……….………………………..
                               PURCHASER                      PURCHASER’S SPOUSE
                                                         (Hereby also consenting in
                                                         terms of sect. 15 (2) (a+b) ACT
                                                          88/84 to purchaser mortgaging
                                                         the property).
2. …………………….



SIGNED BY THE SELLER at………………………………. on…………………………200..

AS WITNESSES:
1. ……….……………                ……………………..……..              …………………………………..
                               SELLER                        SELLER’S SPOUSE
                                                         (Hereby also consenting in
                                                         terms of sect. 15(2) (a+b) ACT
                                                         88/84 to seller alienating the
                                                         property)
1. ……………………………….


The benefits of this Agreement are hereby accepted by Just Buying Properties cc.

……………………………….
For JUST BUYING PROPERTIES cc
SELLER (S)                                   PURCHASER (S)
                    Full names and surname


                        Identity Number
                      Residential address




                   Telephone number – Home
                             Work
                            Cellular
                      Spouse: Full names
                           Maiden
                      Name (If applicable)
                       Identity Number
                       Date of Marriage
                       Married in/out of
                     Community of Property

Seller’s Conveyancers………………………………………………………………….……….
Contact person……………….…………………………………………………..……….…….
Postal
Address………………………………………………………………………………………………
Telephone Number………………………………………Fax Number…………..…………….
Property bonded to…………………Branch……………………….Account Nr…………………

								
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