agreement of sale of immovable property auction - Pam Golding ...
agreement of sale of immovable property auction - Pam Golding ...
agreement of sale of immovable property auction - Pam Golding ...
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2. Sale <strong>of</strong> the Property2The Seller hereby sells to the Purchaser, who hereby purchases from theSeller the <strong>property</strong> subject to the terms and conditions set out herein.3. Purchase PriceThe purchase price <strong>of</strong> the <strong>property</strong> is the amount <strong>of</strong>R____________________(___________________________________________ Rand) (plus Value-Added Tax ("VAT"), if applicable).4. Payment <strong>of</strong> the Purchase PriceThe purchase price (plus Value-Added Tax ("VAT"), if applicable) in respect<strong>of</strong> the <strong>property</strong> shall be paid as follows:-4.1. a cash deposit <strong>of</strong> 5% (five percent) <strong>of</strong> the purchase price shall be paidby the Purchaser to the <strong>auction</strong>eer immediately on or before signaturehere<strong>of</strong> by the Purchaser;4.2. the balance <strong>of</strong> the purchase price shall be paid in cash againstregistration <strong>of</strong> transfer <strong>of</strong> the <strong>property</strong> into the name <strong>of</strong> the Purchaser("the transfer date");4.3. the Purchaser shall furnish the Seller's conveyancers within 14(fourteen) business days <strong>of</strong> signature here<strong>of</strong> by the Seller ("thesignature date"), with a guarantee by a bank or financial institutionapproved by the Seller, payable free <strong>of</strong> exchange, for payment <strong>of</strong> thebalance <strong>of</strong> the purchase price on the transfer date.ORthe Purchaser shall furnish the Seller's conveyancers, within 7 (seven)business days <strong>of</strong> their request, with a guarantee by a bank or financialinstitution approved by the Seller, payable free <strong>of</strong> exchange, forpayment <strong>of</strong> the balance <strong>of</strong> the purchase price.ORthe Purchaser shall secure the balance <strong>of</strong> the purchase price, bypayment in cash to the Seller's conveyancers, within ____(___________) days <strong>of</strong> the signature date, which conveyancers shallhold same in trust, pending the transfer date.5. Transfer <strong>of</strong> the Property