Cash Real Estate Contract Template for South Africa

A Cash Real Estate Contract is essential for documenting property transactions in South Africa where the purchaser is paying the full amount without mortgage financing. This comprehensive agreement ensures compliance with South African property law, particularly the Alienation of Land Act 68 of 1981, and incorporates all necessary elements for a valid property transfer. The document is used when buyers have sufficient funds to purchase property outright, requiring proof of funds and compliance with FICA regulations to prevent money laundering. It includes detailed property descriptions, payment terms, transfer procedures, and various compliance certificates required under South African law. The contract protects both parties' interests by clearly defining their rights and obligations, transfer timing, and property condition warranties, while ensuring all legal requirements for property transfer in South Africa are met.

1. Parties: Identification and details of the Seller and Purchaser, including full legal names, identity numbers, and current addresses

2. Background: Brief context of the transaction and confirmation that the Seller wishes to sell and the Purchaser wishes to purchase the property

3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Purchase Price', 'Transfer Date', etc.

4. Property Description: Detailed description of the property including erf number, physical address, size, and registration division

5. Purchase Price: Specification of the full purchase price and payment terms, including proof of funds requirements

6. Payment Terms: Details of how and when the purchase price will be paid, including deposit requirements and timing of final payment

7. Transfer and Registration: Process and timing for property transfer, appointment of conveyancer, and registration requirements

8. Possession and Occupation: Date of occupation, occupational rent if applicable, and conditions of possession

9. Voetstoots Clause: Statement that the property is sold 'as is', subject to Consumer Protection Act provisions

10. Costs and Transfer Duties: Allocation of transfer costs, duties, and other associated expenses

11. Risk and Insurance: Transfer of risk and responsibility for insurance of the property

12. Warranties and Representations: Standard warranties by both parties regarding capacity to contract and property condition

13. Compliance Certificates: Requirements for electrical, gas, electric fence, and beetle certificates as applicable

14. Domicilium and Notices: Chosen addresses for legal notices and service of documents

15. General Terms: Standard contractual provisions including whole agreement, variation, and governing law clauses