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Real Estate Offer Contract
"I need a Real Estate Offer Contract for purchasing a residential property in Cape Town, South Africa, with a planned occupation date of March 1, 2025, that includes specific provisions for an existing tenant's rights and swimming pool safety compliance."
1. Parties: Full legal names and details of the seller and purchaser, including ID numbers as required by FICA
2. Background: Context of the sale and brief description of the property being offered for purchase
3. Definitions: Definitions of key terms used throughout the contract
4. Property Description: Detailed legal description of the property including erf number, title deed number, and physical address
5. Purchase Price: The offered purchase price, payment terms, and deposit requirements
6. Payment Terms: Details of how and when payments will be made, including deposit arrangements and balance payment
7. Suspensive Conditions: Conditions that must be met for the contract to become fully binding, such as bond approval
8. Transfer and Registration: Process and timing for property transfer, appointment of conveyancer, and cost allocations
9. Possession and Occupation: Date of occupation, occupational rent if applicable, and condition of property at handover
10. Risk and Insurance: Transfer of risk and responsibility for insurance of the property
11. Warranties and Representations: Standard warranties by both parties regarding the property and their capacity to contract
12. Estate Agent Commission: Details of estate agent's commission and responsibility for payment
13. Breach and Termination: Consequences of breach and termination procedures
14. Notices and Domicilia: Official addresses for legal notices and communication
15. General Terms: Standard contractual provisions including whole agreement clause, variation requirements, and governing law
1. Tenant Rights and Obligations: Required when the property is currently occupied by tenants, addressing their rights and notice requirements
2. Fixtures and Fittings: Detailed list of items included/excluded from the sale when specific items need to be addressed
3. Special Conditions: Any unique requirements or conditions specific to this transaction
4. Property Defects: Required when there are known defects that need to be disclosed
5. Home Owners Association: Required for properties within estates or complexes with HOA rules
6. Bond Cancellation: Required when the seller needs to cancel an existing bond
7. SPLUMA Compliance: Required for properties affected by the Spatial Planning and Land Use Management Act
8. Sectional Title Provisions: Required for sectional title properties, addressing body corporate rules and levies
1. Schedule A - Property Description: Detailed technical description of the property including diagrams and zoning information
2. Schedule B - Fixtures and Fittings: Comprehensive list of all fixtures and fittings included in or excluded from the sale
3. Schedule C - Defects List: Detailed list of known defects and their current state
4. Schedule D - Compliance Certificates: List of required compliance certificates and their status
5. Appendix 1 - Property Plans: Approved building plans and property diagrams
6. Appendix 2 - HOA Rules: Home Owners Association rules and regulations if applicable
7. Appendix 3 - Financial Information: Rates, taxes, and levy statements
8. Appendix 4 - FICA Documents: Copies of required FICA documentation for both parties
Authors
Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Property Management
Insurance
Property Investment
Urban Development
Residential Housing
Legal
Real Estate
Compliance
Property Management
Sales
Finance
Risk Management
Operations
Customer Service
Documentation
Real Estate Agent
Property Lawyer
Conveyancer
Property Manager
Bank Manager
Mortgage Consultant
Property Developer
Legal Counsel
Compliance Officer
Property Valuer
Sales Manager
Real Estate Broker
Transaction Coordinator
Property Administrator
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