DEED OF SALE
Sectional Title
Made and entered into by and between:
____________________________________________
Registration/Identity number: ____________________
Of __________________________________________
With email address: ____________________________
(“the Seller”)
And
___________________________________________
Registration/Identity number: ____________________
Married _____________________________________
And
___________________________________________
Registration/Identity number: ____________________
Married _____________________________________
Of: ________________________________________
With email address: ___________________________
(collectively “the Purchaser”)
8 February 2016
2
COVERING SCHEDULE
1.
SUBJECT MATTER
The subject matter of the sale consists of the following Property/s including the undivided share/s in
the common property as apportioned to the section/s in accordance with the participation quota/s
to be determined in accordance with the provisions of Section 32(1) of the Sectional Titles Act No.
95
of
1986
(as
amended)
("the
Property"):
___________________________________________________________________________________.
2.
PURCHASE PRICE
The purchase price shall be R____________ (______________________________________ Rand)
including VAT (if applicable) (“Purchase Price”).
3.
4.
DEPOSIT AND BALANCE
3.1.
The Purchaser shall pay a deposit in cash in the amount of R_____________
(_________________________________ Rand) on signature hereof to the Seller's attorneys.
3.2.
The
balance
of
the
Purchase
Price
in
the
sum
of
R_____________
(__________________________________ Rand) is payable on registration of the transfer of
the Property into the name of the Purchaser.
MORTGAGE BOND
4.1.
4.2.
5.
The amount of the bond required: R_________________________________________
(__________________________________________________________________rand).
Date by when the bond is to be granted: Within __________ (__________________) days of
signature hereof by the Purchaser, or such extended period as the Seller in its
sole discretion may allow as set out in clause 5.2 below.
AGENT
Not applicable.
6.
OCCUPATIONAL CONSIDERATION
R_________________________ (_________________________________________________Rand)
per month, if applicable in terms of clause 6.2.
7.
OCCUPATION DATE:
Occupation of the Property shall be given by the Seller to the Purchaser on ____________________.
8.
SELLER'S ATTORNEYS
8.1.
8.2.
Name of firm:
Business address:
8.3.
Postal address:
8.4.
8.5.
8.6.
8.7.
Telephone number:
Facsimile number:
E-Mail:
Name of contact person:
Page 2 of 9
Strauss Daly Incorporated
Unit 13, Canal Edge One, Tyger Waterfront
Carl Cronje Drive, Bellville, 7530
P O Box 4455, Tyger Valley 7536
Carl Cronje Drive, Bellville, 7530
021 914 8233
021 914 8266
steyn@bsdi.co.za
Steyn Botha
3
TERMS AND CONDITIONS
WHEREAS
A.
The Seller is the registered owner the Property.
B.
The Seller has agreed to sell and the Purchaser has agreed to purchase the Property and the parties
wish to record their agreement in writing.
NOW THEREFORE THE PARTIES AGREE AS FOLLOWS:
1.
INTERPRETATION
1.1 In this Agreement, unless inconsistent with the context:
Page 3 of 9
1.1.1.
"The Act":
means the Sectional Titles Act No 95 of 1986 or
any amendment thereof and includes the
regulations promulgated there under from time to
time;
1.1.2.
The Attorneys":
means the Seller's Attorneys identified in Clause
8 of the Covering Schedule;
1.1.3.
"The Body Corporate":
means the controlling body as contemplated in
terms of section 36 of the Act;
1.1.4.
"Business Day":
means any day other than a Sunday, Saturday or
public holiday in South Africa;
1.1.5.
"the Common Property":
means such parts of the Property and buildings
which do not form part of a Section;
1.1.6.
"the Prime Rate":
means a rate of interest per annum which is
equal to the Absa Bank Limited published
minimum lending rate of interest per annum,
compounded monthly in arrears, charged by the
said bank on the unsecured overdrawn current
accounts of its most favoured corporate clients in
the private sector from time to time. (In the case
of a dispute as to the rate so payable, the rate
shall be certified by any manager or assistant
whose decision shall be final and binding on the
parties);
1.1.7.
"the Property":
means the immovable property as set forth in the
Schedule;
1.1.8.
"the Purchaser":
means the purchaser as set forth on page 1
hereof;
1.1.9.
"the Register":
means the sectional title register in respect of the
property and the buildings;
1.1.10.
"the Rules":
means the management and conduct rules
prescribed by the Act and as may be amended
from time to time by the Seller or by the Body
Corporate;
1.1.11.
"the Scheme":
means the sectional title scheme of which the
Property forms part;
4
1.1.12.
"the Schedule":
means the Covering Schedule to which these
Terms and Conditions are annexed;
1.1.13.
"the Section":
means the section in the Scheme, as described
in the Schedule which comprise part of the
subject matter of this sale;
1.1.14.
"the Seller":
means the seller as set out on page 1 hereof;
1.1.15.
"the Property":
means the Section together with its undivided
share in Common Property apportioned to the
Section in accordance with its participation quota
determined in terms of Section 32(1) of the Act.
1.2.
Words and expressions defined in the Act shall have the meanings therein defined.
1.3.
Words importing the singular shall include the plural and vice versa and words importing the masculine
gender shall include female words and words importing person shall include partnerships and bodies
corporate and vice versa.
1.4.
Reference to the Agreement means this agreement and all annexures thereto.
1.5.
The head notes to the paragraphs to this Agreement are inserted for reference purposes only and
shall not affect the interpretation of any of the provisions to which they relate.
1.6.
References to Acts, legal terms, places and institutions refer to Acts, legal terms, places and
institutions in force and/or in use in the Republic of South Africa.
2.
SALE
The Seller sells to the Purchaser who hereby purchases the Property as more fully described in the
Schedule.
3.
PURCHASE PRICE AND PAYMENT
3.1.
The Purchase Price shall be the total amount specified in the Schedule which amount is inclusive of
VAT, payable as follows:
3.1.1.
a deposit in the amount and terms specified in Clause 3.1 of the Schedule. The deposit paid in
terms of this clause shall be invested by the Attorneys on call at a commercial bank or other
recognised financial institution on behalf of and for the benefit of the Purchaser until registration
of transfer. The Purchaser’s signature hereto shall constitute the Purchaser’s written consent in
terms of Section 78 (2A) of the Attorneys Act, authorising the Attorneys to invest all amounts paid
on account of the Purchase Price in an interest bearing account with a bank of its choice; and
3.1.2.
the balance of the Purchase Price to the Attorneys on behalf of the Seller upon registration of
transfer of the Property into the name of the Purchaser.
3.2.
The Purchaser shall within 14 (fourteen) days of the date on which this agreement is signed by the
Seller and the Purchaser, furnish the Attorneys with a bank or other guarantee acceptable to the
Seller, for the due payment of the balance of the Purchase Price in terms of clause 3.2 of the
Schedule, alternatively pay the said balance in cash to the Attorneys.
3.3.
All or any payments to be effected hereunder shall be effected by the Purchaser to the Attorneys free
of exchange at Cape Town and without deduction or set off.
3.4.
All monies due by the Purchaser in terms of this agreement, and unpaid on due date, shall bear
interest at the rate of 2% (two per centum) above the prime rate, calculated from the due date of
payment to the actual date of payment thereof.
3.5.
Each payment made by the Purchaser shall be allocated first to the payment of interest and then to
the payment of any other monies due in terms hereof and thereafter to the reduction of the Purchase
Page 4 of 9
5
Price.
4.
LOAN FINANCE
4.1
This sale shall be subject to the condition precedent that a financial institution grants a loan in principle
in the amount as specified in Clause 6.1 of the Schedule within the term stipulated therein furnishes
the Purchaser with a quotation for finance, on the institution's usual terms and conditions relating to
such finance. The Purchaser undertakes to use his best endeavours to ensure that the quotation for
finance referred to is granted timeously and undertakes to sign all such documentation and to cooperate with the Seller fully in order to ensure that the quotation for the finance is approved. This
condition
shall
be deemed to have been fulfilled notwithstanding the fact that the Purchaser accepts or declines the
quotation for the finance as aforesaid.
4.2
In
the
event
that
the
condition
precedent
is
not
fulfilled
within
the
time
period provided for in clause 4.1 above, the Seller may in its sole discretion
extend this period for 7 (seven) days at a time until the Seller, in its absolute
discretion, notifies the Purchaser of the termination of such time period.
4.3
The provisions of Clause 4.1 above shall have been fulfilled upon a bank or other financial institution
notifying the Seller and/or the Purchaser and/or the agent in writing that it has granted the required
loan in principle, notwithstanding that such loan is granted subject to the fulfillment of any conditions
pertaining thereto.
5.
TRANSFER
5.1.
Transfer of the Property shall be passed and effected by the Attorneys and taken on or as close as is
practically possible to the Occupation Date, but nor before all the terms and conditions hereof have
been fulfilled.
5.2.
The Purchaser shall sign all transfer and bond documents necessary to give effect to this Agreement
at the offices of the Attorneys within 5 (five) Business Days of being called upon to do so by the
Attorney.
6.
POSSESSION AND OCCUPATION
6.1
Possession and vacant occupation of the Property shall be given and taken by the Purchaser on the
Occupation Date on which date, all risk and benefit in the Property shall pass to the Purchaser.
6.2
If the Purchaser receives occupation of the Property prior to the date of registration of transfer, the
Purchaser shall pay the Seller the Occupational Consideration, or pro rata thereof, in advance, directly
to the Seller until transfer is registered. Should the Seller retain occupation of the Property after date of
transfer, the Seller shall pay the Purchaser the Occupational Consideration upon the same terms and
conditions.
6.3
If occupation is given to the Purchaser before the date of registration of transfer:
6.3.1
the Purchaser shall not be entitled to make any alterations to the Property without the prior
written consent of the Seller, which consent shall be at the Seller's sole and absolute
discretion; and
6.3.2
the Purchaser shall be obliged to vacate the Property upon cancellation of the sale for any
reason whatsoever it being agreed that no tenancy whatsoever shall be created by any prior
occupation. The Purchaser shall have no claim whatsoever against the Seller arising out of
alterations and additions made by the Purchaser.
7.
VOETSTOOTS
7.1.
The Seller has made no representations and given no warranties, except as may be expressly set out
herein, in respect of the Property in respect of anything relating thereto and this sale is accordingly
"voetstoots" and the Seller shall not be liable for any defects in the Property or in respect of anything
relating thereto whether patent or latent.
Page 5 of 9
6
7.2.
The Purchaser shall accept transfer of the Property subject to all conditions and servitudes benefiting
or burdening the Property.
8.
LEVIES
The Purchaser shall be liable for levies payable in terms of section 37(1) of the Act from the date of
registration of transfer, calculated in accordance with the participation quota attributable to the
Property and parking bays.
9.
BODY CORPORATE RULES
It is recorded and the Purchaser acknowledges that he shall, on registration of transfer of the Property
into his name, automatically become a member of the body corporate of the Property under Section 35
of the Act and be subject to the terms and conditions of the body corporate rules.
10.
DEFAULT
If either party commits a breach of this Agreement or fails to comply with any of the provisions hereof,
then the aggrieved party shall be entitled to give the defaulting party 7 (seven) days’ notice in writing
to remedy such breach or failure, and if the defaulting party fails to comply with such notice then the
aggrieved party shall forthwith be entitled, but not obliged, without prejudice to any other rights or
remedies, which it may have in law, including the right to claim damages:
9.1
to cancel this Agreement, in which event the defaulting party shall forfeit all monies paid to the
aggrieved party or the Attorneys in terms hereof; or
9.2
to claim immediate performance and/or payment of all the aggrieved party’s obligations in terms
hereof.
11.
BROKERAGE
No agent’s commission shall be payable in respect of this transaction.
12.
COSTS
The Purchaser shall on written request from the Attorneys pay all costs of transfer, including transfer
duty, if applicable, costs of all necessary affidavits and all other costs which are incurred in order to
comply with statutes, regulations or other enactments relating to the passing of transfer of the Property
and registration of the bond.
13.
GENERAL
13.1.
The terms of this Agreement form the sole contractual relationship between the parties hereto and no
variation of this Agreement shall affect the terms hereof unless such variation shall be reduced to
writing under the hands of the parties hereto.
13.2.
No extension of time or indulgence granted by either party to the other shall be deemed in any way to
affect, prejudice or derogate from the rights of such party in any respect under this Agreement, nor
shall it in any way be regarded as a waiver of any rights hereunder, or a novation of this Agreement.
13.3.
Each of the parties hereby undertakes to sign and/or execute all such documents (and without limiting
the generality of the foregoing) it shall include the execution of the necessary power of attorney,
transfer duty declarations immediately upon request by the Attorneys.
14.
NOTICES AND DOMICILIA
14.1.
Each of the parties chooses domicilium citandi et executandi ("domicilium") for the purpose of the
giving of any notice, the payment of any sum, the serving of any process and for any other purposes
arising from this Agreement at their respective addresses set forth on page 1 hereof.
14.2.
Each of the parties shall be entitled from time to time, by written notice to the others to vary its
Page 6 of 9
7
domicilium to any other address within the Republic of South Africa which is not a post office box or
poste restante.
14.3.
Any notice given and any payment made by a party to any of the others ("the addressee") which:
14.3.1.
is delivered by hand during the normal business hours of the addressee at the address's
domicilium for the time being shall be presumed, until the contrary is proved by the addressee, to
have been received by the addressee at the time of delivery;
14.3.2.
is posted by prepaid registered post from an address within the Republic of South Africa to the
addressee at the addressee's domicilium for the time being shall be presumed, until the contrary
is proved by the addressee, to have been received by the addressee on the fourth day after the
date of posting.
14.4.
Where, in terms of this Agreement any communication is required to be in writing, the terms "writing"
shall include communications by email to the respective email addresses as set out for the parties on
the first page hereto. Communication by email shall, unless the contrary is proved by the addressee,
be deemed to have been received by the addressee 4 (four) hours after the time of transmission.
15.
MAGISTRATE'S COURT JURISDICTION
The parties hereby consent in terms of Section 45 of the Magistrate's Court Act 1944 to the jurisdiction
of any Magistrate's Court having jurisdiction over their respective person under Section 28 of the
Magistrate's Court Act, notwithstanding that any action or proceeding arising out of this Agreement
would otherwise be beyond the jurisdiction of such Court, provided that the Seller shall have the right
to institute proceedings in any other Court of competent jurisdiction.
16.
JOINT PURCHASERS
Insofar as there may be more than one Purchaser of this Agreement, the liability of each of such
Purchasers shall be joint and several and in solidum.
16.
AUTHORISED SIGNATORIES
In the event of the Purchaser or Seller acting on behalf of a company, close corporation, or trust, the
signatories hereto warrant that they are duly authorised thereto and that they shall be personally
bound in the event of non-compliance with any of the company’s, close corporation’s, or trust’s
obligations under this contract.
17.
INSPECTIONS
17.1
The Seller shall, at its cost, have all electrical installations on the property inspected and certified in
terms of the Electrical Installation Regulations 1992 and arrange, where necessary, at his cost, for the
repair or replacement thereof in order to obtain such certificate. The Seller warrants that no alteration
or additions to the electrical installations have been affected since the issue of such Certificate.
17.2
The Seller shall arrange, at his cost, for the accessible portions of the property to be inspected by a
contractor that is a member of the South African Pest Control Association for infestation by notifiable
beetle and for the replacement of any infested timber with properly treated timber. Thereafter the
Seller shall have no further responsibility in this regard. The Seller shall provide a Clearance
Certificate issued by the contractor to the Attorneys, which certificate may not pre-date the date of
signature of this agreement.
17.3
In the event that the Property falls within the jurisdiction of the City of Cape Town, the Seller shall, in
terms of the provisions of section 14 of the Water By-law 2011 before transfer of the Property at its
cost have the water installation to the Property inspected, repaired and certified in the prescribed
format by an accredited plumber that it conforms to the National Building Regulations and the Water
By-law 2011, there are no defects, the water meter registers, and there are no discharge of storm
water into the sewer system.
Page 7 of 9
8
17.4 If there is a gas installation on the property, the Seller shall, at its own cost, deliver a Certificate of
Conformity to the Purchaser before the date of transfer. The Certificate shall be issued by an
authorised person as defined in the Pressure Equipment Regulations 2009 (issued in terms of the
Occupational Health and Safety Act, 1993). The Seller undertakes not to alter, install or remove the
gas installation after the Certificate was issued. In so far as the authorised person requires corrective
work to be carried out as a precondition to the issue of such Certificate, the Seller will ensure that such
work is carried out and it will be for the Seller’s cost and expense.
18.
RIGHT TO REVOKE
If the Purchaser is a natural person who has not reserved the right to appoint a nominee and where
the property herein purchased is a residential property being sold for a purchase price of R250 000
or less, the Purchaser may revoke this offer as provided for in section 29A of the Alienation of Land
Act. The Purchaser must exercise this right by giving the Seller or his Agent written notification of his
revocation within 5 days after signing this agreement by both parties. The 5 day period will commence
the day after the last of the Seller or Purchaser signed this agreement, and will exclude Saturdays,
Sundays and public holidays.
19.
WITHHOLDING TAX
19.1 The Seller hereby warrants that he/she is a resident of the Republic of South Africa YES / NO*
*Delete whichever is not applicable
19.2 If NO, and The Seller is a non-resident of the Republic of South Africa, the Seller accordingly hereby
irrevocably authorizes and instructs the Seller’s Conveyancers to deduct the applicable withholding tax
from the purchase price on behalf of the Purchaser if the purchase price is R2 000 000.00 or more and
to pay that amount to the Receiver of Revenue within 14 (fourteen) days after date of registration of
transfer of the property to the Purchaser, as required in section 35A of the Income Tax Act.
20.
GOVERNING LAW
This Agreement shall be governed by, construed and interpreted in accordance with the laws of South
Africa. Any dispute, controversy, claim, suit, action or proceeding which may arise at any time
between the parties shall be submitted to a South African court of law for adjudication.
21.
FIXTURES
The Property is sold with all existing fixtures and fittings of a permanent nature including:
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________.
The Seller warrants that all the above, where applicable, are all fully paid for and owned solely by the
Seller.
22.
COUNTERPART SIGNATURE
The parties agree that the Agreement may be signed in separate counterparts, each of which shall be
deemed to be an original, all of which taken together shall constitute one and the same agreement. A
counterpart of the agreement transmitted by email shall be conclusive evidence of the original
signature and shall be as effective in law as the counterpart in the original form showing the original
signature.
23.
SPECIAL CONDITIONS
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
________________________________
Page 8 of 9
9
OFFER TO PURCHASE
The Purchaser hereby offers to purchase from the Seller the Subject Matter referred to in Clause 1 of the
Schedule in accordance with the particulars and upon the terms and conditions contained in the Terms and
Conditions set out hereafter, which offer shall be irrevocable and open for acceptance by the Seller, provided the
Seller shall deliver or cause to deliver a duly countersigned copy of this agreement to the Purchaser or to transmit
such a copy by email to the Purchaser by no later than __h00 on __________________, whereafter it shall lapse
and no longer be open for acceptance.
Signed at___________________________on this _____________day of _________________ 20__.
AS WITNESSES:
________________________________
_________________________________
PURCHASER
________________________________
ACCEPTANCE OF OFFER
The Seller hereby accepts the Purchaser's offer to purchase the Subject Matter referred to in Clause 1 of the
Schedule in accordance with the particulars and upon the terms and conditions contained in the Terms and
Conditions set out hereafter, as a result of which a legal and binding contract of sale has been concluded
between the Seller and the Purchaser.
Signed at___________________at ___h___ on this____________day of __________________ 20__.
AS WITNESSES:
________________________________
________________________________
Page 9 of 9
_________________________________
SELLER