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Agreement To Sell Land
"I need an Agreement to Sell Land for a commercial property in Cape Town, South Africa, where the sale is conditional upon the purchaser obtaining mortgage finance by March 2025, and the property has existing tenants whose leases need to be honored."
1. Parties: Identification and full details of the Seller and Purchaser, including registration/identity numbers and addresses
2. Background: Context of the transaction and brief description of the parties' intention to enter into a land sale agreement
3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules for interpreting the agreement
4. Property Description: Detailed description of the property including erf number, title deed number, physical address, and extent
5. Purchase Price: The agreed purchase price and payment terms, including deposit requirements
6. Payment Terms: Detailed structure of payments, including timing, method, and banking details
7. Conditions Precedent: Any conditions that must be fulfilled before the agreement becomes fully effective
8. Transfer and Registration: Process and timing for property transfer, appointment of conveyancer, and costs allocation
9. Risk and Possession: When risk passes to the purchaser and arrangements for possession of the property
10. Warranties and Representations: Standard warranties by both parties regarding their capacity to contract and property condition
11. Agent's Commission: Details of estate agent's commission if applicable and responsibility for payment
12. Breach and Termination: Consequences of breach and remedies available to the parties
13. Dispute Resolution: Process for resolving disputes between the parties
14. General Provisions: Standard boilerplate clauses including notices, whole agreement, and variation requirements
1. Bond Approval: Include when purchase is subject to the purchaser obtaining mortgage finance
2. Sale of Purchaser's Property: Include when purchase is conditional on purchaser selling their existing property
3. Occupational Rent: Include when there's a period between occupation and transfer requiring occupational rent
4. Fixtures and Fittings: Include when specific items are included/excluded from the sale
5. Property Compliance Certificates: Include when specifying responsibility for obtaining various compliance certificates
6. Existing Tenancies: Include when the property is subject to existing lease agreements
7. Development Conditions: Include when the property is part of a development or subject to special conditions
8. Agricultural Use Provisions: Include when the property is agricultural land subject to specific regulations
1. Property Details Schedule: Detailed description of the property including boundaries, servitudes, and zoning information
2. Payment Schedule: Detailed breakdown of payment terms including installments and due dates
3. Fixtures and Fittings List: Comprehensive list of items included in or excluded from the sale
4. Compliance Certificates Schedule: List of required compliance certificates and responsibility for obtaining them
5. Property Condition Report: Detailed report on the condition of the property at time of sale
6. Outstanding Municipal Accounts: Schedule of any outstanding municipal accounts or charges
7. Existing Defects Declaration: List of known defects disclosed by the seller
Authors
Real Estate
Property Development
Construction
Banking and Finance
Agriculture
Retail
Commercial Property
Residential Property
Industrial Property
Legal Services
Legal
Real Estate
Property Management
Facilities Management
Risk and Compliance
Corporate Development
Acquisitions
Investment
Operations
Finance
Property Lawyer
Real Estate Agent
Property Developer
Conveyancing Secretary
Legal Counsel
Property Manager
Commercial Director
Facilities Manager
Investment Manager
Real Estate Investment Analyst
Property Portfolio Manager
Acquisitions Manager
Development Manager
Risk Manager
Compliance Officer
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