Document background
The House Offer document is a crucial initial step in South African residential property transactions, serving as the prospective buyer's formal proposal to purchase a property. It must comply with the Alienation of Land Act 68 of 1981, which requires property sale agreements to be in writing and signed by all parties. This document is used when a potential buyer wishes to formalize their intention to purchase a property, typically after viewing and deciding to proceed with the acquisition. It includes essential elements such as the property description, purchase price, payment terms, bond requirements, transfer details, and various conditions specific to South African property transactions. The document may be prepared by estate agents using standard forms approved by the Estate Agency Affairs Board, or by legal professionals, and serves as the foundation for the final sale agreement if accepted by the seller.
