Purchase Agreement Real Property_Short Form

SELLER'S LETTERHEAD

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

PURCHASE AGREEMENT - REAL PROPERTY (SHORT FORM)

This Purchase Agreement ('Agreement') is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

**Seller:** {{seller_name}}, with identity/company registration number {{seller_ID_number}}, residing at/registered office at {{seller_address}} (hereinafter referred to as 'the Seller'); and

**Buyer:** {{buyer_name}}, with identity/company registration number {{buyer_ID_number}}, residing at/registered office at {{buyer_address}} (hereinafter referred to as 'the Buyer').

The Seller and the Buyer are hereinafter collectively referred to as 'the Parties' and individually as 'Party'.

1. PROPERTY DESCRIPTION

The Seller agrees to sell and the Buyer agrees to purchase, subject to the terms and conditions set forth herein, the following described real property (hereinafter referred to as 'the Property'):

**Erf/Lot Number:** {{erf_lot_number}}

**Physical Address:** {{property_physical_address}}

**Title Deed Information:** {{title_deed_number}}

Including all fixtures, improvements, and appurtenances permanently attached thereto.

2. PURCHASE PRICE

The total purchase price for the Property is {{currency}} {{purchase_price}} ({{purchase_price_words}}), payable by the Buyer to the Seller as follows:

**2.1 Deposit:** A non-refundable deposit of {{currency}} {{deposit_amount}} ({{deposit_amount_words}}) shall be paid by the Buyer to the Seller's nominated attorney/estate agent, {{attorney_estate_agent_name}}, within {{deposit_payment_days}} business days of signing this Agreement. This deposit shall be held in an interest-bearing trust account.

**2.2 Balance:** The remaining balance of the purchase price, amounting to {{currency}} {{balance_amount}} ({{balance_amount_words}}), shall be secured by a bank guarantee or paid in cash on or before the date of transfer of ownership of the Property into the Buyer's name.

3. CONDITIONS PRECEDENT

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

**3.1 Bond Approval:** The Buyer obtaining a loan/bond from a financial institution for an amount of not less than {{currency}} {{loan_amount}} ({{loan_amount_words}}) by {{bond_approval_date}}.

**3.2 Electrical Compliance Certificate:** The Seller providing a valid Electrical Compliance Certificate for the Property, as required by law.

**3.3 Other Conditions:** {{other_conditions_precedent_description}}.

4. POSSESSION AND OCCUPATION

**4.1 Possession:** Vacant possession of the Property shall be given to the Buyer on the date of registration of transfer, or otherwise by mutual written agreement.

**4.2 Occupation:** If occupation is given prior to transfer, the Buyer shall pay occupational rent of {{currency}} {{occupational_rent_amount}} ({{occupational_rent_amount_words}}) per month, payable in advance on the first day of each month, commencing from {{occupation_commencement_date}}.

5. TRANSFER AND COSTS

**5.1 Transferring Attorneys:** The transfer of the Property shall be attended to by {{transferring_attorney_name}} of {{transferring_attorney_address}}.

**5.2 Costs:** The Buyer shall be responsible for payment of all transfer duty and transfer fees. The Seller shall be responsible for obtaining any compliance certificates (e.g., electrical, entomology, gas if applicable) and for all rates and taxes up to the date of transfer.

6. 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 of receiving written notice from the innocent Party requiring them to do so, the innocent Party shall be entitled, without prejudice to any other rights it may have in law, to:

**6.1** Claim specific performance of the terms of this Agreement; or

**6.2** Cancel this Agreement and claim damages.

7. GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with the laws of {{country}}. The Parties hereby consent to the non-exclusive jurisdiction of the Courts of {{country}} in respect of any dispute arising out of or in connection with this Agreement.

8. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties and supersedes all prior negotiations, understandings, and agreements, whether written or oral. No amendment or consensual cancellation of this Agreement shall be of any force or effect unless reduced to writing and signed by both Parties.

SIGNATURES

Thus done and signed at {{place_of_signing}} on this {{day}} day of {{month}}, {{year}}.

_____________________________

**SELLER:** {{seller_name}}

Identity/Company Reg. No.: {{seller_ID_number}}

_____________________________

**BUYER:** {{buyer_name}}

Identity/Company Reg. No.: {{buyer_ID_number}}

**WITNESS 1:**

Name: {{witness_1_name}}

Signature: _____________________________

**WITNESS 2:**

Name: {{witness_2_name}}

Signature: _____________________________