Contract of Sale of Commercial Property

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Parties

This Contract of Sale of Commercial Property ("the Agreement") is made and entered into on this {{day}} day of {{month}}, {{year}},

BETWEEN:

{{seller_company_name}}, a company duly registered and incorporated in accordance with the laws of {{country}}, with its principal place of business at {{seller_address}} (hereinafter referred to as "the Seller"),

AND

{{purchaser_company_name}}, a company duly registered and incorporated in accordance with the laws of {{country}}, with its principal place of business at {{purchaser_address}} (hereinafter referred to as "the Purchaser").

The Seller and the Purchaser are hereinafter collectively referred to as "the Parties" and individually as "a Party."

Property Details

The Seller hereby agrees to sell, and the Purchaser hereby agrees to purchase, the commercial property situated at {{property_full_address}} (hereinafter referred to as "the Property"), further described as:

Erf/Stand Number: {{erf_number}}

Title Deed Number: {{title_deed_number}}

Extent: {{property_size}} square meters

Improvements: The Property includes all existing buildings, fixtures, and fittings permanently attached thereto, including but not limited to {{list_of_improvements}}.

Purchase Price and Payment Terms

The total purchase price payable by the Purchaser to the Seller for the Property is {{currency}} {{purchase_price}} ({{purchase_price_in_words}}).

The purchase price shall be paid by the Purchaser to the Seller as follows:

a) A non-refundable deposit of {{currency}} {{deposit_amount}} ({{deposit_amount_in_words}}) shall be paid to the Seller's nominated conveyancing attorney, {{attorney_name}}, within {{deposit_payment_days}} days of the signing of this Agreement. This deposit shall be held in an interest-bearing trust account for the benefit of the Parties until the date of transfer.

b) The balance of the purchase price, amounting to {{currency}} {{balance_amount}} ({{balance_amount_in_words}}), shall be secured by a guarantee from a reputable financial institution or paid into the conveyancing attorney's trust account, on or before the date of transfer of the Property into the Purchaser's name.

Conditions Precedent

This Agreement is subject to the fulfilment of the following conditions precedent:

a) The Purchaser successfully securing a loan for the amount of {{currency}} {{loan_amount}} from a reputable financial institution within {{loan_application_days}} days from the Effective Date, failing which this Agreement shall lapse and be of no force or effect, and any deposit paid shall be refunded to the Purchaser.

b) The Purchaser conducting a satisfactory due diligence investigation of the Property, including but not limited to structural, environmental, and legal aspects, within {{due_diligence_days}} days from the Effective Date. The Purchaser shall notify the Seller in writing of its satisfaction or dissatisfaction with the due diligence findings. If dissatisfied, the Purchaser may elect to terminate this Agreement, in which case any deposit paid shall be refunded.

c) The Seller providing the Purchaser with all necessary documents and information pertaining to the Property, including approved building plans, title deeds, and occupancy certificates, within {{document_provision_days}} days from the Effective Date.

Transfer and Occupation

The transfer of the Property from the Seller to the Purchaser shall be attended to by the conveyancing attorney, {{attorney_name}}, with offices at {{attorney_address}}.

The target date for transfer is on or before {{transfer_date}}.

Occupation of the Property shall be given to the Purchaser on {{occupation_date}}. From the date of occupation, the Purchaser shall be responsible for all rates, taxes, levies, and utility charges pertaining to the Property. Should occupation be prior to transfer, occupational rental of {{currency}} {{occupational_rental}} per month shall be payable by the Purchaser to the Seller.

Warranties and Representations

The Seller warrants that:

a) It is the lawful owner of the Property and has the full right and authority to sell the Property.

b) The Property is sold voetstoots (as is), subject to all existing servitudes, onerous conditions, and defects, whether latent or patent, which the Purchaser acknowledges having inspected or had the opportunity to inspect.

c) All rates, taxes, and levies due in respect of the Property up to the date of transfer shall be paid by the Seller.

Breach

Should either Party commit a breach of any of the terms or conditions of this Agreement and fail to remedy such breach within {{breach_remedy_days}} days after receipt of written notice requiring such remedy, the aggrieved Party shall be entitled, without prejudice to any other rights it may have in law, to:

a) Claim specific performance of this Agreement; OR

b) Cancel this Agreement and claim such damages as it may have suffered.

General

This Agreement constitutes the entire agreement between the Parties with regard to the subject matter hereof and supersedes all prior agreements, understandings, or representations, whether written or oral.

No variation, addition, deletion, or consensual cancellation of this Agreement shall be of any force or effect unless reduced to writing and signed by both Parties.

This Agreement shall be governed by and construed in accordance with the laws of {{country}}.

Signatures

THUS DONE AND SIGNED at {{seller_signature_location}} on this {{seller_signature_day}} day of {{seller_signature_month}}, {{seller_signature_year}}.

_________________________

For: {{seller_company_name}}

Name: {{seller_signatory_name}}

Capacity: {{seller_signatory_capacity}}

Witnessed by:

1. _________________________

Name: {{seller_witness_name_1}}

2. _________________________

Name: {{seller_witness_name_2}}

THUS DONE AND SIGNED at {{purchaser_signature_location}} on this {{purchaser_signature_day}} day of {{purchaser_signature_month}}, {{purchaser_signature_year}}.

_________________________

For: {{purchaser_company_name}}

Name: {{purchaser_signatory_name}}

Capacity: {{purchaser_signatory_capacity}}

Witnessed by:

1. _________________________

Name: {{purchaser_witness_name_1}}

2. _________________________

Name: {{purchaser_witness_name_2}}