Purchase Agreement Real Property_Short Form

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

1. Parties

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

Seller: {{seller_name}}, identified by {{seller_id_type}} {{seller_id_number}}, with a postal address of {{seller_address}} (hereinafter referred to as the 'Seller').

Buyer: {{buyer_name}}, identified by {{buyer_id_type}} {{buyer_id_number}}, with a postal address of {{buyer_address}} (hereinafter referred to as the 'Buyer').

2. Property Description

The Seller agrees to sell and the Buyer agrees to purchase the following property (the 'Property'):

Description: {{property_description}}

Physical Address: {{property_address}}

Title Deed Number: {{title_deed_number}}

Erf/Stand Number: {{erf_number}}

3. 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 their designated attorney/agent) by {{deposit_due_date}}.

The remaining balance of {{currency}} {{balance_amount}} shall be paid on or before the transfer date, which is anticipated to be on or before {{transfer_date_deadline}}.

4. Conditions Precedent

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

a) The Buyer obtaining a bond/loan approval for no less than {{currency}} {{bond_amount}} by {{bond_approval_date}}.

b) The Buyer selling their current property located at {{buyer_current_property_address}} by {{buyer_property_sale_date}}.

Each party shall promptly notify the other upon the fulfillment or waiver of any condition precedent.

5. Occupation and Possession

Vacant occupation and possession of the Property shall be given to the Buyer on the date of registration of transfer, or on an earlier date agreed upon in writing.

Should the Buyer take occupation prior to transfer, occupational rent of {{currency}} {{occupational_rent_amount}} per month shall be payable by the Buyer to the Seller, commencing from the date of occupation until the date of transfer.

6. Transfer Costs and Duties

The Buyer shall be responsible for all costs relating to the transfer of the Property, including but not limited to, transfer duty, conveyancing fees, and bond registration fees.

The Seller shall be responsible for obtaining all necessary compliance certificates (e.g., electrical, entomological, gas) as required by law and for the cost thereof.

7. Fixtures and Fittings

Unless specifically excluded in writing, all fixtures and fittings of a permanent nature currently installed in the Property are included in the sale.

A list of specific exclusions (if any) is attached as Annexure 'A'.

8. Breach

Should either party breach any of the terms of this Agreement and fail to remedy such breach within {{notice_period}} 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 they may have in law, to:

a) Claim specific performance of the terms of this Agreement; or

b) Cancel this Agreement and claim damages.

9. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of {{country_of_governance}}.

Signature Block

_____________________________

Seller: {{seller_name}}

Date: {{seller_signature_date}}

_____________________________

Buyer: {{buyer_name}}

Date: {{buyer_signature_date}}

_____________________________

Witness 1: {{witness_1_name}}

Date: {{witness_1_date}}

_____________________________

Witness 2: {{witness_2_name}}

Date: {{witness_2_date}}