Immoveable Property Sale Agreement

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

AGREEMENT OF SALE: IMMOVEABLE PROPERTY

An agreement made and entered into by and between:

**{{seller_name}}** (Registration Number: {{seller_registration_number}}), a company duly incorporated in terms of the laws of {{seller_jurisdiction}}, with its registered address at {{seller_address}} (hereinafter referred to as "The Seller")

AND

**{{purchaser_name}}** (Registration Number: {{purchaser_registration_number}}), a company duly incorporated in terms of the laws of {{purchaser_jurisdiction}}, with its registered address at {{purchaser_address}} (hereinafter referred to as "The Purchaser")

PREAMBLE

WHEREAS the Seller is the registered owner of the immoveable property described below (hereinafter referred to as "the Property");

AND WHEREAS the Seller desires to sell the Property to the Purchaser, and the Purchaser desires to purchase the Property from the Seller, on the terms and conditions hereinafter set forth.

PROPERTY DESCRIPTION

The Property is situated at: {{property_physical_address}}

Erf/Stand Number: {{erf_stand_number}}

Title Deed Number: {{title_deed_number}}

Extent: {{property_extent_square_meters}} square meters

PURCHASE PRICE AND PAYMENT

The purchase price for the Property shall be the sum of **{{purchase_price_currency}} {{purchase_price_amount}} ({{purchase_price_words}})**.

A deposit of **{{deposit_currency}} {{deposit_amount}} ({{deposit_words}})** shall be paid by the Purchaser to the Seller's attorneys, {{attorneys_name}}, into their trust account (Account Number: {{attorneys_trust_account_number}}), within **{{deposit_payment_days}}** days of the Effective Date.

The balance of the purchase price shall be secured by a guarantee issued by a financial institution acceptable to the Seller, or by cash payment, on or before the transfer date.

CONDITIONS PRECEDENT

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

a) The Purchaser obtaining a mortgage bond for an amount of not less than **{{bond_amount_currency}} {{bond_amount}}** by **{{bond_approval_date}}**.

b) The Purchaser selling their existing property located at {{purchaser_property_address}} by **{{purchaser_property_sale_date}}**.

POSSESSION AND OCCUPATION

Vacant possession and occupation of the Property shall be given to the Purchaser on the date of registration of transfer, or on such other date as may be mutually agreed upon in writing.

Should the Purchaser occupy the Property prior to transfer, occupational rent of **{{occupational_rent_currency}} {{occupational_rent_amount}}** per month shall be payable to the Seller, commencing from the date of occupation until the date of transfer.

RISK AND BENEFIT

The risk and benefit in and to the Property shall pass from the Seller to the Purchaser on the date of registration of transfer.

VOETSTOOTS

The Property is sold voetstoots (as is), meaning the Purchaser acknowledges that they have inspected the Property and are aware of its condition, and the Seller gives no warranties or guarantees as to its condition, save for any latent defects known to the Seller and not disclosed to the Purchaser.

COSTS

The Purchaser shall be responsible for all costs of transfer, including transfer duty, conveyancing fees, and bond registration costs. The Seller shall be responsible for obtaining all necessary compliance certificates (e.g., electrical, entomological, gas, and plumbing).

DOMICILIUM

The parties choose as their domicilium citandi et executandi for all purposes arising from this agreement the following addresses:

Seller: {{seller_domicilium_address}}

Purchaser: {{purchaser_domicilium_address}}

GENERAL

This Agreement constitutes the entire agreement between the parties and no variation, amendment, or addition hereto shall be of any force or effect unless reduced to writing and signed by both parties.

No indulgence, leniency or extension of time which the Seller may grant or allow to the Purchaser shall constitute a waiver of any of the Seller’s rights in terms of this Agreement.

SIGNATURES

SIGNED at {{place_of_signing_seller}} on this {{day_of_signing_seller}} day of {{month_of_signing_seller}} {{year_of_signing_seller}}.

**_________________________**

**{{seller_signature_name}}**

For and on behalf of {{seller_name}}

Duly authorised

SIGNED at {{place_of_signing_purchaser}} on this {{day_of_signing_purchaser}} day of {{month_of_signing_purchaser}} {{year_of_signing_purchaser}}.

**_________________________**

**{{purchaser_signature_name}}**

For and on behalf of {{purchaser_name}}

Duly authorised

**WITNESSES:**

1. _________________________ (Name: {{witness_1_name}})

2. _________________________ (Name: {{witness_2_name}})