Real Estate Purchase Agreement

SELLER'S LETTERHEAD

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

REAL ESTATE PURCHASE AGREEMENT

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

**Seller:** {{seller_name}}, with a physical address at {{seller_address}}, (hereinafter referred to as "Seller").

**Buyer:** {{buyer_name}}, with a physical address at {{buyer_address}}, (hereinafter referred to as "Buyer").

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

1. PROPERTY DESCRIPTION

The Seller agrees to sell, and the Buyer agrees to purchase, the following described property (hereinafter referred to as the "Property"):

**Property Address:** {{property_address}}

**Legal Description:** {{legal_description}}

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

**Title Deed Number:** {{title_deed_number}}

2. PURCHASE PRICE AND PAYMENT TERMS

The total purchase price for the Property is {{currency}} {{purchase_price}} ({{purchase_price_words}}).

Payment shall be made as follows:

**2.1. Deposit:** A non-refundable deposit of {{currency}} {{deposit_amount}} shall be paid by the Buyer to the Seller's nominated attorney/conveyancer, {{attorney_name}}, within {{days_deposit_due}} business days of the Effective Date of this Agreement. This deposit shall be held in an interest-bearing trust account for the benefit of all parties.

**2.2. Balance:** The remaining balance of the purchase price, amounting to {{currency}} {{remaining_balance_amount}}, shall be paid by the Buyer on or before the date of transfer of ownership of the Property into the Buyer’s name, through the Buyer obtaining a mortgage bond or other approved financing arrangements. Proof of financing approval must be provided to the Seller within {{days_financing_approval}} days of the Effective Date.

3. CONDITIONS PRECEDENT

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

**3.1. Financing Approval:** The Buyer obtaining approval for a mortgage loan in the amount of at least {{currency}} {{loan_amount}} from a recognized financial institution within {{days_financing_approval}} days of the Effective Date.

**3.2. Due Diligence:** The Buyer, or their appointed representatives, conducting a satisfactory due diligence investigation of the Property, including but not limited to, structural integrity, electrical, plumbing, boundary verification, and environmental assessments, within {{days_due_diligence}} days of the Effective Date. The Buyer shall bear the costs of such investigations.

4. TRANSFER AND OCCUPATION

**4.1. Transfer:** Transfer of ownership of the Property from the Seller to the Buyer shall be effected by {{attorney_name}} (the "Conveyancer") within a reasonable time after the fulfillment of all conditions precedent and payment of the full purchase price.

**4.2. Occupation:** Vacant occupation of the Property shall be given to the Buyer on {{occupation_date}}. Should the Buyer take occupation prior to the transfer date, occupational rent of {{currency}} {{occupational_rent_amount}} per month shall be payable by the Buyer to the Seller, prorated for any partial month.

5. WARRANTIES BY SELLER

The Seller warrants that:

**5.1.** The Seller is the lawful owner of the Property and has the full right and authority to sell the Property.

**5.2.** The Property is sold voetstoots (as is), subject to all patent and latent defects, to the extent that the Seller is not aware of any latent defects not disclosed to the Buyer.

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

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 {{days_to_remedy}} days of receipt of a written notice to do so, the aggrieved 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 {{court_name}} 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 relating to the subject matter hereof and supersedes all prior agreements, understandings, and negotiations between the Parties, whether written or oral. No alteration, variation, or cancellation of this Agreement shall be of any force or effect unless reduced to writing and signed by both Parties.

SIGNATURES

Signed at {{city}} on this {{day}} day of {{month}}, {{year}}.

**___________________________**

**Seller: {{seller_name}}**

**___________________________**

**Buyer: {{buyer_name}}**

**___________________________**

**Witness 1: {{witness_1_name}}**

**___________________________**

**Witness 2: {{witness_2_name}}**