Offer to purchase
OFFER TO PURCHASE
TO: ………………………………………………….. FROM: …………..…..……………………………………….…
……………………………………………..…..…………… …………..…………….……………………………………….…
(hereinafter referred to as the SELLER) (hereinafter referred to as the PURCHASER)
Detailed descriptions of the parties appear on the information sheet attached hereto, which forms part of this agreement.
I, the undersigned, ………………………………………………………………………………………… (the PURCHASER)
hereby offer to purchase (and once this offer has been accepted, I understand that it will become a valid and binding deed
of sale) fixed property being:
____________________________________________________________________________________________________
Erf No………….…………. measuring ………..……………sq.m. situated and known as: ……………………………………………
…………………………………………………………………………………………………………………………………………………..
(Hereinafter referred to as the PROPERTY)
____________________________________________________________________________________________________
OR
Sectional Title Unit consisting of:
(i) Section No. …………… Unit No. ……….…. known as ………………………………………
………………………………………………………….…… measuring ………………………. Sq.m as per Sectional Plans.
(ii) Undivided share in the Common Property in accordance with the participation quota of the Section
(being…………..………………… of the whole complex.)
(iii) Exclusive right of use of Labour Quarters No. …..…… Storeroom No. ……… Garage No. ……………
(iv) Carport No. …… Parking No. ……… as specified on the Sectional Plan, or as per the Body Corporate Resolution,
or as provided for in the rules of the Body Corporate. It has been clearly explained to me that the right of use as
aforementioned is provided for in either the title deed to this property or the rules, whichever is applicable.
(Hereinafter referred to as the PROPERTY.)
The Purchaser acknowledges that he has been alerted by the SELLER to the fact that the Developer / Body Corporate has
reserved the right of Further Development in terms of Section 25 of the Sectional Titles Act of 1986.
upon the following terms and conditions:
1. PURCHASE PRICE. The Purchase Price for the PROPERTY is the sum of R………..………………….………………………...
(…………………………………………………………………………………………….…………………RANDS) payable as follows:
1.1 A deposit of R ………………………………. shall be paid to the SELLER’S ATTORNEY to be held in trust and invested in an interest
bearing account for the benefit of the PURCHASER. This deposit to be paid within ………….… days of acceptance of this offer or the
fulfilment of suspensive conditions (if applicable) contained herein.
1.2 The balance of R …………………………………………. is payable against registration of the PROPERTY into the name of the
PURCHASER, for which payment the PURCHASER shall, within 14 days of acceptance of this Offer or the fulfilment of the suspensive
conditions (if applicable), whichever is the latter, furnish the SELLER’S Conveyancers with a Bank or Financial Institution’s guarantee in
such terms as may be reasonably required by the SELLER’S Conveyancers, providing for payment upon registration of transfer.
2. MORTGAGE BOND. This entire agreement is conditional upon the Purchaser or the Agent on behalf of the Purchaser being issued with a
quotation (as referred to in the National Credit Act 34 of 2005) by a Financial Institute 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 simultaneously
with transfer. This condition shall be deemed to be fulfilled upon notification by the Financial Institution of the Purchaser or his Agent of a
quotation having being issued upon normal banking conditions. The Purchaser hereby authorises the agent to make the necessary
application/s for such loan on his behalf.
3. CONDITION OF THE PROPERTY. The PROPERTY is sold VOETSTOOTS, as it stands and in the condition as it as at the time of
completing this offer. Unless stated otherwise the seller is not liable for any latent or patent defect in the property at the time of signing this
offer.
3.2.1 The purchaser confirms that he/she inspected the property fully prior to signature of this document ,having been given adequate
opportunity to do so and the Purchaser is satisfied with the property in all respects expect to the extend stated otherwise in this document.
3.2.2 That an inspection reports signed by the seller and his/her agent was handed to the purchaser prior to signature of this agreement to
assist the purchaser to conduct a proper inspection of the property- which document is not intended as a full and comprehensive report on
the property but merely a guideline for inspection purposes.
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