¶¶Òõ¶ÌÊÓƵ

The Guaranteed Sale Agreement is a sophisticated legal instrument used in South African property transactions to provide sellers with certainty regarding their property's minimum sale value. This type of agreement becomes particularly relevant in uncertain market conditions or when sellers require guaranteed proceeds from their property sale, perhaps due to financial commitments or relocation requirements. The document comprehensively outlines the guarantor's obligations to either successfully market and sell the property at market value or purchase it themselves at a predetermined guaranteed price. It includes specific provisions governed by South African property law, including the Alienation of Land Act and Property Practitioners Act, detailing marketing requirements, guarantee conditions, property transfer processes, and risk allocation. The agreement typically includes extensive property specifications, condition reports, and marketing obligations to ensure transparency and protect all parties' interests.

1. Parties: Identification of the Seller, Guarantor (usually the estate agency or property company), and any other relevant parties

2. Background: Context of the agreement, including the property details and purpose of the guaranteed sale arrangement

3. Definitions: Definitions of key terms used throughout the agreement, including 'Guaranteed Price', 'Marketing Period', and 'Settlement Date'

4. Property Description: Detailed description of the property including erf number, physical address, size, and included fixtures and fittings

5. Guarantee Terms: Core terms of the guarantee including the guaranteed price, conditions for the guarantee to become effective, and guarantee period

6. Marketing Obligations: Obligations regarding the marketing of the property, including marketing period and minimum price

7. Sale Process: Process for accepting offers, including the relationship between market offers and the guarantee

8. Purchase Price and Payment: Terms regarding the payment of the purchase price, whether from a market sale or through the guarantee

9. Property Condition: Warranties regarding the condition of the property and any voetstoots clauses

10. Risk and Possession: Transfer of risk and possession arrangements

11. Transfer and Registration: Process and obligations regarding property transfer and registration

12. Breach and Termination: Consequences of breach and termination rights

13. Dispute Resolution: Process for resolving disputes between parties

14. General Provisions: Standard boilerplate clauses including notices, entire agreement, and governing law