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Real Estate Sales Contract

Real Estate Sales Contract Template for South Africa

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Key Requirements PROMPT example:

Real Estate Sales Contract

"I need a Real Estate Sales Contract for a residential property sale in Cape Town, South Africa, with transfer scheduled for March 2025, including specific provisions for a swimming pool and solar installation warranty."

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Document background
The Real Estate Sales Contract is a fundamental legal document used in South African property transactions to formalize the sale and purchase of real estate. This document is essential for any property transfer in South Africa and must comply with the Alienation of Land Act 68 of 1981, which requires all property sales to be in writing and signed by both parties. The contract captures all crucial aspects of the property transaction, including detailed property description, purchase price, payment terms, transfer conditions, and various compliance requirements specific to South African property law. It is designed to protect both buyer and seller interests while ensuring adherence to local regulations, including FICA requirements and transfer duty obligations. The document is typically prepared with assistance from legal professionals to ensure all necessary clauses and certificates required by South African law are properly included.
Suggested Sections

1. Parties: Identification and details of the Seller and Purchaser, including their full names, registration/identity numbers, and addresses

2. Background: Context of the sale and brief description of the property being sold

3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules of interpretation

4. Property Description: Detailed description of the property including erf number, physical address, size, and registration division

5. Purchase Price: The agreed purchase price and payment terms, including deposit requirements and payment schedule

6. Payment Terms: Detailed breakdown of how and when payments must be made, including deposit handling and guarantees

7. Transfer and Registration: Process and timing for property transfer, appointment of conveyancer, and registration requirements

8. Possession and Occupation: Date of occupation, occupational rent if applicable, and conditions of possession

9. Voetstoots Clause: Statement regarding the condition of the property and extent of seller's warranties

10. Compliance Certificates: Required certificates including electrical, gas, electric fence, and beetle certificates

11. Risk and Insurance: Transfer of risk and responsibility for insurance

12. Agent Commission: Details of estate agent's commission if applicable

13. Breach: Consequences and remedies in case of breach by either party

14. Dispute Resolution: Process for resolving disputes between parties

15. Notices and Domicilia: Official addresses for legal notices and communication

16. General Terms: Standard contractual provisions including whole agreement, variation, and governing law

Optional Sections

1. Sectional Title Provisions: Additional terms specific to sectional title properties, including body corporate rules and levies

2. Tenant Provisions: Terms relating to existing tenants, including lease agreements and tenant rights

3. Bond Cancellation: Terms regarding cancellation of existing bonds on the property

4. Development Rights: Provisions relating to future development rights or restrictions

5. Special Conditions: Any unique terms specific to this transaction

6. FICA Requirements: Specific provisions relating to Financial Intelligence Centre Act compliance

7. Fixtures and Fittings: Detailed list of items included/excluded from the sale

8. Property Syndication: Additional terms if property is part of a syndication scheme

9. Foreign Exchange Control: Special provisions if purchaser is a foreign national

Suggested Schedules

1. Schedule A - Property Details: Detailed property description including diagram and title deed information

2. Schedule B - Fixtures and Fittings: Comprehensive list of all fixtures and fittings included in or excluded from the sale

3. Schedule C - Compliance Certificates: Copies of all required compliance certificates

4. Schedule D - Property Plans: Building plans, site plans, and zoning certificates

5. Schedule E - Special Conditions: Any special conditions or variations agreed between the parties

6. Appendix 1 - Proof of Payment: Proof of deposit payment and guarantee requirements

7. Appendix 2 - FICA Documents: Copies of required FICA documentation for both parties

8. Appendix 3 - Body Corporate Rules: If applicable, body corporate rules and regulations

9. Appendix 4 - Existing Lease Agreements: If applicable, copies of current lease agreements

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


















































Clauses



































Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Property Management

Construction

Property Investment

Residential Property

Commercial Property

Property Trust Management

Relevant Teams

Legal

Real Estate

Sales

Compliance

Property Management

Contracts Administration

Risk Management

Operations

Investment

Transaction Processing

Document Management

Property Development

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Attorney

Property Developer

Real Estate Broker

Property Manager

Legal Counsel

Compliance Officer

Real Estate Investment Manager

Property Portfolio Manager

Sales Director

Contract Manager

Real Estate Transaction Coordinator

Property Operations Manager

Real Estate Legal Advisor

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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