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Contract Of Purchase And Sale Addendum
"I need a Contract of Purchase and Sale Addendum to modify the purchase price of a commercial property from R5 million to R4.8 million and extend the transfer date to March 15, 2025, referencing our original agreement dated January 10, 2025."
1. Parties: Identification of all parties to the original agreement and addendum, including their full legal names, registration/identity numbers, and addresses
2. Background: Reference to the original agreement including its date, parties, and subject matter, and the reason for this addendum
3. Definitions: Definition of terms used in the addendum, including reference to definitions in the original agreement that remain applicable
4. Reference to Original Agreement: Specific reference to which clauses of the original agreement are being modified, supplemented, or removed
5. Amendments: Clear statement of all modifications to the original agreement, with specific reference to affected clauses
6. Confirmation of Other Terms: Statement confirming that all other terms and conditions of the original agreement remain unchanged and in full force and effect
7. Effective Date: The date from which the amendments will take effect
8. Integration Clause: Statement that this addendum forms part of the original agreement
9. Signatures: Space for all parties to sign, including witnesses as required by South African law
1. Purchase Price Adjustment: Used when the addendum modifies the original purchase price or payment terms
2. Property Description Amendment: Used when there are changes to the property description or included items
3. Conditions Precedent: Used when adding or modifying conditions that must be met before the agreement becomes effective
4. Transfer Date Amendment: Used when modifying the intended transfer or registration date
5. Occupational Rent: Used when changing terms relating to occupational rent or occupation date
6. Special Conditions: Used for any unique or specific modifications not covered by standard clauses
7. Compliance Certificates: Used when modifying requirements for compliance certificates
8. Agent Commission: Used when there are changes to estate agent commission arrangements
1. Schedule A - Amended Payment Terms: Detailed breakdown of any modified payment terms, including payment schedule and amounts
2. Schedule B - Modified Property Description: Updated description of the property and any included or excluded items
3. Schedule C - Timeline Amendments: Revised timeline for key dates and deadlines
4. Appendix 1 - Supporting Documents: Any relevant supporting documents referenced in the addendum
5. Appendix 2 - Compliance Requirements: Updated list of compliance certificates or requirements
6. Appendix 3 - Special Conditions: Detailed explanation of any special conditions or requirements added by the addendum
Authors
Real Estate
Property Development
Construction
Financial Services
Legal Services
Property Management
Urban Development
Residential Property
Commercial Property
Agricultural Property
Legal
Real Estate
Property Management
Compliance
Sales
Operations
Contract Administration
Property Development
Conveyancing
Risk Management
Property Lawyer
Conveyancing Attorney
Real Estate Agent
Property Practitioner
Legal Counsel
Property Manager
Compliance Officer
Contract Manager
Real Estate Development Manager
Sales Manager
Property Administrator
Transaction Coordinator
Legal Administrator
Real Estate Broker
Property Development Director
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