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Real Estate Buyers Agreement
"I need a Real Estate Buyers Agreement for purchasing a residential property in Cape Town, South Africa, with a purchase price of R2.5 million, subject to obtaining mortgage financing by March 2025, and including special provisions for solar installation compliance."
1. Parties: Identification and details of the Buyer and Seller, including full legal names, identity numbers, and contact information as required by FICA regulations
2. Background: Context of the transaction, including the Seller's ownership of the property and the Buyer's intention to purchase
3. Definitions: Definitions of key terms used throughout the agreement, including Property, Purchase Price, Transfer Date, and other relevant terms
4. Property Description: Detailed description of the property including erf number, physical address, size, and zoning information
5. Purchase Price: Agreed purchase price, payment terms, deposit requirements, and guarantee provisions
6. Payment Terms: Detailed breakdown of payment structure, including deposit, balance, and timeline for payments
7. Transfer and Registration: Process and timeline for property transfer, appointment of conveyancer, and registration requirements
8. Occupation: Occupation date, occupational rent if applicable, and conditions related to property occupation
9. Warranties and Representations: Standard warranties by both parties, including property condition and authority to sell
10. Compliance Certificates: Requirements for electrical, gas, electric fence, and beetle certificates as required by law
11. Risk and Insurance: Transfer of risk, insurance requirements, and responsibilities of parties until transfer
12. Estate Agent Commission: Details of estate agent's commission, if applicable, and payment responsibility
13. Breach and Termination: Consequences of breach, remedies, and termination provisions
14. Dispute Resolution: Process for resolving disputes, including mediation and arbitration procedures
15. General Provisions: Standard legal clauses including entire agreement, variation, and governing law
1. Bond Finance: Used when the purchase is subject to the buyer obtaining mortgage finance, including conditions and timelines
2. Sale of Buyer's Property: Used when the purchase is conditional on the buyer selling their existing property
3. Fixtures and Fittings: Detailed list of items included/excluded from the sale when specific items need to be addressed
4. Tenant Rights: Used when the property is currently tenanted, addressing existing lease agreements
5. Property Development: Used for properties requiring development or renovation, including conditions and timelines
6. Body Corporate/HOA: Used for sectional title or estate properties, including specific rules and regulations
7. Special Conditions: Any unique conditions specific to the transaction
8. Agent Mandate: Used when specific estate agent terms need to be incorporated into the main agreement
1. Schedule A - Property Details: Comprehensive property description, including diagrams and zoning certificates
2. Schedule B - Fixtures and Fittings: Detailed inventory of items included in or excluded from the sale
3. Schedule C - Compliance Certificates: Copies of all required compliance certificates
4. Schedule D - Property Defects: List of known defects and condition report
5. Schedule E - Payment Schedule: Detailed breakdown of payment terms and dates
6. Appendix 1 - Property Plans: Approved building plans and property diagrams
7. Appendix 2 - Body Corporate Rules: If applicable, body corporate or HOA rules and regulations
8. Appendix 3 - FICA Requirements: List of required FICA documentation for both parties
Authors
Property
Purchase Price
Transfer Date
Occupation Date
Seller
Purchaser
Bond
Bond Grant Date
Conveyancer
Deposit
Due Diligence Period
Effective Date
Estate Agent
FICA
Fixtures and Fittings
Guarantee
Local Authority
Occupational Rent
Party/Parties
Property Practitioners Act
Registration
Signature Date
Transfer Costs
Transfer Duty
VAT
Compliance Certificates
Body Corporate
Common Property
Defects
Exclusive Use Area
Home Owners Association
Levies
Municipal Rates
Sectional Title
Title Deed
Voetstoots
Business Day
Clearance Certificate
Conditions Precedent
Material Breach
Prime Rate
Rates Clearance
Reserve Price
Transfer Attorney
Purchase Price
Payment Terms
Transfer of Ownership
Occupation
Warranties
Risk and Insurance
Compliance Certificates
Property Condition
Agent Commission
Bond Finance
Transfer Costs
Municipal Requirements
Body Corporate
Due Diligence
Breach
Dispute Resolution
Force Majeure
Notices
Governing Law
Assignment
Severability
Integration
Amendment
Termination
Suspensive Conditions
Anti-Money Laundering
Consumer Protection
Representations
Indemnification
Defects
Inspection
Registration
Rates and Taxes
Transfer Duty
Special Conditions
Estate Agency
Conveyancing
Fixtures and Fittings
Occupation Rental
Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Property Management
Insurance
Property Investment
Residential Housing
Commercial Property
Legal
Real Estate
Compliance
Property Management
Sales
Finance
Risk Management
Operations
Investment
Business Development
Due Diligence
Document Management
Real Estate Agent
Property Lawyer
Conveyancing Attorney
Property Developer
Real Estate Broker
Property Manager
Mortgage Consultant
Legal Counsel
Compliance Officer
Property Valuer
Sales Manager
Real Estate Investment Manager
Property Portfolio Manager
Real Estate Transaction Coordinator
Property Acquisitions Manager
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