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As Is Home Purchase Agreement
"I need an As Is Home Purchase Agreement for a fixer-upper property in Cape Town, where the buyer acknowledges significant structural issues and agrees to take full responsibility for all repairs, with transfer scheduled for March 2025."
1. Parties: Identification and details of the Seller and Purchaser, including their full names, identity numbers, and current addresses
2. Background: Context of the sale, including brief property description and acknowledgment of 'as is' nature of the sale
3. Definitions: Key terms used in the agreement, including 'as is' condition, property, transfer date, and other relevant definitions
4. Property Description: Detailed description of the property including erf number, street address, size, and registration details
5. Purchase Price: The agreed purchase price, payment terms, and deposit requirements
6. As Is Condition: Explicit statement of property being sold 'as is' with buyer's acknowledgment of current condition
7. Property Inspection: Confirmation of buyer's inspection and acceptance of property condition
8. Transfer and Registration: Process and timing for property transfer, including appointment of conveyancer
9. Risk and Possession: Transfer of risk and possession details, including date of possession
10. Rates and Taxes: Responsibility for municipal rates, taxes, and utilities
11. Estate Agent Commission: Details of estate agent commission if applicable
12. Breach: Consequences and remedies in case of breach by either party
13. Notices and Domicilia: Official contact details and addresses for legal notices
14. General Terms: Standard contractual provisions including whole agreement, variation, and governing law
15. Signatures: Execution clause and signature blocks for all parties
1. Bond Clause: Conditional clause if purchase is subject to buyer obtaining mortgage finance
2. Sale of Purchaser's Property: Conditional clause if purchase depends on buyer selling their existing property
3. Occupational Rent: Terms for early occupation or delayed vacation by seller
4. Fixtures and Fittings: Detailed list of items included/excluded from sale if different from standard inclusions
5. Certificates of Compliance: Requirements for electrical, gas, electric fence, or beetle certificates if applicable
6. Special Conditions: Any unique terms agreed between parties
7. FICA Requirements: Financial Intelligence Centre Act compliance requirements if relevant
8. Agent Mandate: Details of estate agent's mandate if sale is through an agent
1. Schedule A - Property Details: Comprehensive property description including diagram and title deed details
2. Schedule B - Property Condition Report: Detailed report of property condition, defects, and photographs
3. Schedule C - Fixtures and Fittings List: Itemized list of fixtures included in or excluded from the sale
4. Schedule D - Payment Schedule: Detailed breakdown of payment terms and deadlines
5. Appendix 1 - Property Plans: Building plans and property layout diagrams
6. Appendix 2 - Compliance Certificates: Copies of all relevant compliance certificates
7. Appendix 3 - Disclosure Form: Seller's formal disclosure of known defects and property condition
8. Appendix 4 - Pre-inspection Report: Report from buyer's property inspection
Authors
Real Estate
Legal Services
Banking & Finance
Property Development
Construction
Insurance
Property Management
Professional Services
Legal
Real Estate
Property Management
Sales
Compliance
Risk Management
Operations
Finance
Customer Service
Document Management
Real Estate Agent
Property Lawyer
Conveyancing Attorney
Property Manager
Bank Manager
Mortgage Specialist
Property Developer
Real Estate Broker
Legal Counsel
Compliance Officer
Property Inspector
Sales Manager
Contract Administrator
Real Estate Transaction Coordinator
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