Immoveable Property Sale Agreement

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Immoveable Property Sale Agreement

Immoveable Property Sale Agreement

{{company_name}} {{company_address}} Phone: {{phone}} Email: {{email}} Website: {{website}}

IMMOVEABLE PROPERTY SALE AGREEMENT

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

PARTIES

This Agreement is made BETWEEN:

1. {{seller_name}}, (Identity Number: {{seller_id_number}}) of {{seller_address}} (the "Seller").

AND

2. {{purchaser_name}}, (Identity Number: {{purchaser_id_number}}) of {{purchaser_address}} (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 following immoveable property (the "Property"):

Description: {{property_description}}

Erf/Lot Number: {{erf_lot_number}}

Physical Address: {{property_address}}

Title Deed Number: {{title_deed_number}}

Extent: {{property_extent}} square meters

PURCHASE PRICE

The total purchase price for the Property is {{purchase_price_currency}} {{purchase_price}} ({{purchase_price_words}}) ("Purchase Price").

The Purchase Price shall be payable by the Purchaser to the Seller as follows:

a) A deposit of {{deposit_currency}} {{deposit_amount}} ({{deposit_amount_words}}) shall be paid to {{attorney_firm_name}} Attorneys, Trust Account Number: {{attorney_trust_account_number}}, on or before {{deposit_due_date}}.

b) The balance of the Purchase Price, amounting to {{balance_currency}} {{balance_amount}} ({{balance_amount_words}}), shall be secured by a guarantee issued by a financial institution acceptable to the Seller, or paid in cash, on or before {{balance_due_date}}.

OCCUPATION AND POSSESSION

Official occupation and possession of the Property shall be given to the Purchaser on {{occupation_date}} ("Occupation Date").

Should the Occupation Date precede the date of transfer, the Purchaser shall pay occupational rental amounting to {{occupational_rental_currency}} {{occupational_rental_amount}} ({{occupational_rental_amount_words}}) per month, payable in advance on the first day of each month, commencing on the Occupation Date.

RISK AND BENEFIT

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

CONDITIONS OF SALE

The sale is subject to the following conditions:

a) The Purchaser obtaining a loan from a recognized financial institution for an amount of not less than {{loan_amount_currency}} {{loan_amount}} by {{loan_approval_date}}.

b) The Purchaser selling their existing property located at {{purchaser_existing_property_address}} by {{existing_property_sale_date}}.

TRANSFER AND COSTS

The transfer of the Property shall be effected by {{attorney_firm_name}} Attorneys.

All costs relating to the transfer, including transfer duties, conveyancing fees, and bond registration costs (if applicable), shall be borne by the Purchaser.

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_notice_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 the terms of this Agreement; or

b) Cancel this Agreement and claim damages.

GENERAL

This Agreement constitutes the entire agreement between the Parties and no amendment, alteration, addition, or consensual cancellation 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_name}}.

SIGNATURES

Signed at {{signing_place}} on this {{signing_day}} day of {{signing_month}}, {{signing_year}}.

_____________________________

Seller: {{seller_name}}

_____________________________

Witness: {{seller_witness_name}}

_____________________________

Purchaser: {{purchaser_name}}

_____________________________

Witness: {{purchaser_witness_name}}