OFFER TO PURCHASE (SALE OF PROPERTY AGREEMENT)
Summary
Where a person wishes to buy an immovable property, this Offer to Purchase may be used to lodge an offer with the Seller. Once accepted by the Seller this agreement forms the basis on which the property will be transferred to the Purchaser.
More information
Who should use this Offer to Purchase?
A property owner and an interested prospective purchaser may consider using this Offer to Purchase in order to negotiate and specify the details of the sale of property.
What does the Offer to Purchase say?
The Agreement covers the following issues:
- Purchase price and guarantees
- Occupation and Occupational Interest
- Liability
- Suspensive Conditions
- Waiver and Lapse
- Risk and benefit
- Transfer
- The property
- Fixtures and Fittings
- Company or Close Corporation
- Default
- Notices
- Cooling Off Period
- General
- Brokerage
- Special Conditions
- Expiry
- Signatures
What does the Offer to Purchase look like?
The Agreement can be printed onto nine A4 pages.
What do you need to do to use the Option to Purchase Agreement?
- Complete the relevant details in the agreement.
- Read the document to ensure that it suits your requirements. Make changes as required.
- Ensure that the agreement is signed by the prospective Purchaser.
- Once the Seller signs the Agreement, give the document over to the Conveyancers to progress with transferring the property.
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