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Deed Of Sale For House
"I need a standard Deed of Sale for House for a residential property in Cape Town, with transfer scheduled for March 2025, including provisions for a 10% deposit and bond financing conditions."
1. Parties: Full details of the Seller and Purchaser, including legal names, identity numbers, and current addresses
2. Background: Brief context of the sale and confirmation that the Seller owns and wishes to sell the property to the Purchaser
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Purchase Price', 'Transfer Date', etc.
4. Property Description: Detailed legal description of the property including erf number, physical address, size, and registration division
5. Purchase Price: The agreed purchase price, payment terms, deposit requirements, and guarantee provisions
6. Transfer and Registration: Process and timing of property transfer, appointment of conveyancer, and transfer costs allocation
7. Risk and Possession: Transfer of risk and possession date, conditions for possession, and interim period arrangements
8. Seller's Warranties: Warranties regarding property ownership, defects, illegal additions, and outstanding debt
9. Purchaser's Warranties: Warranties regarding financial capacity and compliance with anti-money laundering regulations
10. Property Condition: Statement on property condition, disclosure of defects, and voetstoots clause if applicable
11. Municipal Requirements: Obligations regarding rates, taxes, and municipal clearance certificates
12. General Terms: Standard contractual provisions including breach, notices, and jurisdiction
13. Signatures: Execution clause and signature blocks for all parties and witnesses
1. Occupancy Arrangements: Used when the property is currently occupied by tenants or when the Seller requires post-transfer occupation
2. Bond Cancellation: Include when the property has an existing bond that needs to be cancelled
3. Estate Agent Commission: Required when an estate agent is involved in the transaction
4. Suspensive Conditions: Include when sale is subject to conditions like bond approval or sale of another property
5. Special Conditions: For unique requirements such as specific repairs or renovations before transfer
6. NHBRC Requirements: Required for new properties or recent constructions falling under Housing Consumers Protection Act
7. Body Corporate Provisions: Required for sectional title properties
8. FICA Requirements: Detailed section on FICA compliance when enhanced due diligence is required
1. Schedule A - Property Details: Detailed property specifications, including size, improvements, and fixtures and fittings included/excluded
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms, installments, and due dates
3. Schedule C - Defects List: Comprehensive list of known defects disclosed by the Seller
4. Schedule D - Compliance Certificates: List of required compliance certificates and responsibility for obtaining them
5. Appendix 1 - Property Plans: Approved building plans and property diagrams
6. Appendix 2 - FICA Requirements: List of required FICA documentation for both parties
7. Appendix 3 - Property Photos: Photos documenting the current condition of the property
8. Appendix 4 - Special Conditions: Detailed description of any special conditions or requirements
Authors
Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Property Management
Insurance
Public Sector
Legal
Real Estate
Conveyancing
Property Management
Compliance
Finance
Risk Management
Client Services
Document Management
Operations
Property Lawyer
Conveyancer
Real Estate Agent
Property Developer
Bank Manager
Mortgage Specialist
Property Manager
Legal Counsel
Compliance Officer
Real Estate Broker
Property Administrator
Title Deed Officer
Municipal Planning Officer
Property Valuer
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