Purchase Agreement Real Property_Short Form

Company 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 Name: {{seller_name}} of {{seller_address}} ('Seller'), and

Buyer Name: {{buyer_name}} of {{buyer_address}} ('Buyer').

1. PROPERTY DESCRIPTION

The Seller agrees to sell, and the Buyer agrees to purchase, the real property located at:

{{property_address}}

({{property_description}}, e.g., 'Erf Number X, measuring approximately Y square meters, held under Title Deed Number Z').

2. PURCHASE PRICE

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

A deposit of {{currency}} {{deposit_amount}} shall be paid by the Buyer to the Seller (or Seller's agent) upon the signing of this Agreement. This deposit shall be non-refundable unless otherwise specified herein.

3. PAYMENT TERMS

The balance of the purchase price, amounting to {{currency}} {{balance_due}}, shall be paid by the Buyer on or before {{closing_date}} ('Closing Date').

Payment shall be made by {{payment_method}} to {{recipient_bank_details}}/{{recipient_attorney_trust_account}}.

4. CONDITIONS PRECEDENT

This Agreement is conditional upon:

a) The Buyer securing a loan from a reputable financial institution for an amount not less than {{currency}} {{loan_amount}} by {{loan_approval_date}}.

b) A satisfactory property inspection report to be obtained by the Buyer by {{inspection_report_date}}.

c) {{other_conditions_precedent_clause}}

5. POSSESSION AND OCCUPATION

Vacant possession of the Property shall be given to the Buyer on the Closing Date.

Occupation by the Buyer prior to the Closing Date is subject to a separate written agreement and payment of occupational rent of {{currency}} {{occupational_rent_per_period}} per {{period}}.

6. TRANSFER AND COSTS

The transfer of the Property shall be effected by {{conveyancer_name}} of {{conveyancer_address}}.

All costs relating to the transfer, including but not limited to transfer duty, conveyancer’s fees, and disbursements, shall be borne by the Buyer, save for {{seller_cost_exceptions}}, which shall be borne by the Seller.

7. BREACH

Should either party breach any material term of this Agreement and fail to remedy such breach within {{notice_period}} days of receiving written notice to do so, 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.

SIGNATURES

IN WITNESS WHEREOF, the parties have executed this Agreement on the date first written above.

___________________________ ___________________________

Seller Signature Buyer Signature

{{seller_printed_name}} {{buyer_printed_name}}

___________________________ ___________________________

Witness Signature Witness Signature

{{seller_witness_printed_name}} {{buyer_witness_printed_name}}