the right steps to take in selling a property - Hall Real Estate
the right steps to take in selling a property - Hall Real Estate
the right steps to take in selling a property - Hall Real Estate
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www.hallrealestate.co.za<br />
THE RIGHT STEPS TO TAKE<br />
IN SELLING A PROPERTY<br />
Sell<strong>in</strong>g a home successfully, for <strong>the</strong> majority of sellers, it means achiev<strong>in</strong>g <strong>the</strong> highest possible sell<strong>in</strong>g price <strong>in</strong><br />
<strong>the</strong> shortest possible period of time. In order for you <strong>to</strong> achieve this it is imperative that your home be evaluated<br />
and correctly priced by a professional and ethical estate agent.<br />
Too many sellers base <strong>the</strong>ir choice of estate agent on <strong>the</strong> price that <strong>the</strong> estate agent promises <strong>to</strong> obta<strong>in</strong> for<br />
<strong>the</strong> home – don’t make this mis<strong>take</strong>. Be realistic – an estate agent cannot get a buyer <strong>to</strong> pay more than market<br />
value for <strong>the</strong> <strong>property</strong> just because <strong>the</strong> estate agent has promised <strong>the</strong> seller an <strong>in</strong>flated amount.<br />
Don’t let yourself get caught up <strong>in</strong> a bidd<strong>in</strong>g war. The estate agent has no control over <strong>the</strong> market – he or she<br />
does not actually buy or sell houses. All that <strong>the</strong> estate agents controls is <strong>the</strong> actual market<strong>in</strong>g of <strong>the</strong> <strong>property</strong><br />
and if a particular <strong>property</strong> is over-priced, <strong>the</strong>n no matter how well <strong>the</strong> estate agent markets <strong>the</strong> <strong>property</strong> he<br />
or she will be unable <strong>to</strong> negotiate a price for a home <strong>in</strong> excess of what buyers will be will<strong>in</strong>g <strong>to</strong> pay. <strong>Estate</strong><br />
agents who accept mandates from sellers at any price and do not counsel sellers on <strong>the</strong> potential dangers<br />
of such over-pric<strong>in</strong>g are not <strong>the</strong> type of estate agents with whom you want <strong>to</strong> enter <strong>in</strong><strong>to</strong> a bus<strong>in</strong>ess relationship.<br />
The only way <strong>to</strong> arrive at <strong>the</strong> correct sell<strong>in</strong>g price for your home is by study<strong>in</strong>g <strong>the</strong> prices of similar properties<br />
sold recently <strong>in</strong> your area. The value of a home, beyond <strong>the</strong> costs of replacement or municipal valuations, is<br />
what a f<strong>in</strong>ancially and legally able buyer is will<strong>in</strong>g <strong>to</strong> pay. Your estate agent has <strong>the</strong> responsibility of provid<strong>in</strong>g<br />
you with <strong>the</strong> facts regard<strong>in</strong>g recent sales of comparable properties <strong>in</strong> <strong>the</strong> area – a professionally prepared<br />
Comparative Market Analysis is essential <strong>in</strong> determ<strong>in</strong><strong>in</strong>g price.<br />
Your estate agent should also be able <strong>to</strong> advise you as <strong>to</strong> <strong>the</strong> present state of <strong>the</strong> market and how your<br />
<strong>property</strong> compares <strong>in</strong> value <strong>to</strong> similar properties already on <strong>the</strong> market. The amount of time that a <strong>property</strong> is<br />
on <strong>the</strong> market affects <strong>the</strong> eventual sell<strong>in</strong>g price. If a <strong>property</strong> is <strong>in</strong>itially over-priced it has a good chance of<br />
eventually sell<strong>in</strong>g below market value because purchasers learn <strong>to</strong> wait, i.e. <strong>the</strong>y wait for a seller <strong>to</strong> become<br />
urgent and <strong>the</strong>n submit low offers.<br />
The estate agent that you select <strong>to</strong> market your <strong>property</strong> should be <strong>the</strong> one who is <strong>the</strong> most professional –<br />
<strong>the</strong> best negotia<strong>to</strong>r, <strong>the</strong> best marketer and one <strong>to</strong> whom you can entrust <strong>the</strong> market<strong>in</strong>g of your most valuable<br />
asset.<br />
0861 <strong>Hall</strong> 46<br />
www.hallrealestate.co.za
www.hallrealestate.co.za<br />
WHY CHOOSE<br />
HALL REAL ESTATE?<br />
You have a confus<strong>in</strong>g array of estate agents <strong>to</strong> choose from, each one claim<strong>in</strong>g <strong>to</strong> sell quicker and at a higher<br />
price than <strong>the</strong> o<strong>the</strong>r. Whilst <strong>the</strong>se claims, without a proven track-record, are noth<strong>in</strong>g but hot air, it is a fact that<br />
some agents are better than o<strong>the</strong>rs.<br />
The estate agent you select will need <strong>to</strong> be a person with whom you can communicate comfortably. Although<br />
it may appear that you are reta<strong>in</strong><strong>in</strong>g <strong>the</strong> services of a company when you sign a mandate, it is <strong>in</strong> fact <strong>the</strong><br />
<strong>in</strong>dividual estate agent who will, or will not, afford you <strong>the</strong> degree of service that you and your <strong>property</strong> require.<br />
<strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> is a dynamic and <strong>in</strong>novative association of <strong>to</strong>p –perform<strong>in</strong>g estate agents. Represent<strong>in</strong>g <strong>Hall</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>in</strong> your area, is a team of specialist, professional estate agents who all share one common trait –<br />
an absolute commitment <strong>to</strong> <strong>the</strong>ir clients and <strong>the</strong> development of <strong>the</strong>ir areas.<br />
On list<strong>in</strong>g your home, no estate agent <strong>in</strong> <strong>the</strong> employ of <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> can claim <strong>to</strong> be <strong>in</strong> a position <strong>to</strong> sell<br />
your home quicker than anyone else, but he or she will commit <strong>to</strong> market<strong>in</strong>g <strong>the</strong> <strong>property</strong> <strong>in</strong> such a way that a<br />
maximum sell<strong>in</strong>g price is achieved <strong>in</strong> <strong>the</strong> shortest possible period of time.<br />
<strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong>’s associates are fully professional. They have proven results. They will always keep you<br />
<strong>in</strong>formed and you will always be able <strong>to</strong> trust <strong>the</strong>m <strong>to</strong> work <strong>in</strong> your best <strong>in</strong>terests……<br />
…Isn’t that what you want?<br />
0861 <strong>Hall</strong> 46<br />
www.hallrealestate.co.za
www.hallrealestate.co.za<br />
OUR BUYERS<br />
COME FROM...<br />
Our extensive lists of exist<strong>in</strong>g prospective purchasers <strong>in</strong> our buyer data-bank;<br />
- Referrals from active <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> agents <strong>in</strong> Bedfordview, Edenvale, Germis<strong>to</strong>n, Kens<strong>in</strong>g<strong>to</strong>n,<br />
Alber<strong>to</strong>n, Boksburg/Benoni, Northcliff, Randpark Ridge, Randburg, Fourways and Cape Town.<br />
- We also send and receive regular referrals from throughout Sou<strong>the</strong>rn Africa and some from as far afield<br />
as Europe, Australia, North America and <strong>the</strong> Far East;<br />
- Weekly showday <strong>in</strong>vitations <strong>to</strong> local residents who may be look<strong>in</strong>g <strong>to</strong> up-or down-grade or who may have<br />
family members, friends, or acqua<strong>in</strong>tances who wish <strong>to</strong> move <strong>in</strong><strong>to</strong> <strong>the</strong> area;<br />
- Regular advertis<strong>in</strong>g <strong>in</strong> <strong>the</strong> pr<strong>in</strong>ted media which <strong>in</strong>cludes local Homef<strong>in</strong>ders and The Star;<br />
- By means of specialized <strong>property</strong> promotions and exhibitions held from time <strong>to</strong> time, as well as via <strong>the</strong><br />
Internet and Expo Centre;<br />
- Comprehensive and factual brochures delivered <strong>to</strong> all prospective purchasers and showhouse attendees<br />
for personal reference;<br />
- Showhouse referrals – should any prospective purchasers not attend your <strong>property</strong>’s show<strong>in</strong>g, <strong>the</strong>se<br />
buyers will be thoroughly qualified by any one of our associates <strong>in</strong> this area and across Gauteng.<br />
0861 <strong>Hall</strong> 46<br />
www.hallrealestate.co.za
www.hallrealestate.co.za<br />
PRICING...<br />
THE ISSUES<br />
Correct Pric<strong>in</strong>g:<br />
BENEFITS……<br />
1. Creates an impression of good value <strong>to</strong> purchasers<br />
2. Increases advertis<strong>in</strong>g response<br />
3. Creates an impression of seller commitment<br />
4. Achieves maximum response <strong>in</strong> optimum time<br />
5. Ma<strong>in</strong>ta<strong>in</strong>s seller negotiat<strong>in</strong>g advantage<br />
CONSEQUENCES………..<br />
1. Maximum number of offers<br />
2. Maximum sell<strong>in</strong>g price achieved<br />
3. Market<strong>in</strong>g period m<strong>in</strong>imized<br />
4. Discourages barga<strong>in</strong> hunters<br />
5. Least disruption of seller’s lifestyle<br />
6. Property sold with<strong>in</strong> shortest period of time<br />
Over Pric<strong>in</strong>g:<br />
DISADVANTAGES…..<br />
1. Loses <strong>in</strong>terested buyers<br />
2. Prolongs market<strong>in</strong>g time<br />
3. Attracts low offers<br />
4. Reduces advertis<strong>in</strong>g response<br />
CONSEQUENCES……<br />
1. Buyers reluctant <strong>to</strong> make offers<br />
2. Property ga<strong>in</strong>s stigma<br />
3. Compet<strong>in</strong>g properties become more attractive<br />
4. Property becomes over-exposed<br />
5. Seller loses crucial market<strong>in</strong>g time<br />
6. Barga<strong>in</strong> hunters wait for sale <strong>to</strong> become urgent<br />
0861 <strong>Hall</strong> 46<br />
www.hallrealestate.co.za
www.hallrealestate.co.za<br />
OVER PRICING... THE BIG SLIDE<br />
INFLATED<br />
ASKING PRICE<br />
PRICE<br />
REDUCTION<br />
MARKET VALUE<br />
PRICE<br />
REDUCTION<br />
EVENTUAL<br />
SELLING PRICE<br />
WHICH BY<br />
NOW IS<br />
BELOW<br />
MARKET<br />
VALUE<br />
1st Month 2nd Month 3rd Month 4th Month 5th Month<br />
Number of months on <strong>the</strong> market<br />
CORRECT PRICING - THE TIME FACTOR<br />
INFLATED<br />
ASKING PRICE<br />
PRICE<br />
REDUCTION<br />
AIM TO SELL HERE -<br />
HIGHEST PRICE AT PEAK<br />
OF BUYERS INTEREST<br />
MARKET VALUE<br />
PRICE<br />
REDUCTION<br />
EVENTUAL<br />
SELLING PRICE<br />
1st Week 2nd Week 3rd Week 4th Week 5th Week<br />
Number of weeks on <strong>the</strong> market<br />
0861 <strong>Hall</strong> 46<br />
www.hallrealestate.co.za
www.hallrealestate.co.za<br />
SOLE MANDATE VERSUS<br />
OPEN MANDATE...<br />
The Great Debate<br />
There is no doubt that <strong>the</strong> sole mandate contract has been abused by unscrupulous estate agents, perhaps<br />
you know of someone who has suffered from disreputable conduct and who has warned you aga<strong>in</strong>st even<br />
contemplat<strong>in</strong>g enter<strong>in</strong>g <strong>in</strong><strong>to</strong> a sole mandate for <strong>the</strong> sale of your <strong>property</strong>?<br />
The facts are simple. Professional, qualified and hard-work<strong>in</strong>g estate agents will not commit 100% of <strong>the</strong>ir<br />
resources, time and effort on properties where <strong>the</strong>re is no protection afforded <strong>to</strong> <strong>the</strong>m by a seller who does not<br />
have <strong>the</strong> confidence <strong>to</strong> entrust <strong>the</strong> market<strong>in</strong>g of his <strong>property</strong> <strong>to</strong> <strong>the</strong>m under a contract, where<strong>in</strong> both <strong>the</strong> seller<br />
and <strong>the</strong> agent have set guidel<strong>in</strong>es <strong>in</strong> which <strong>to</strong> conduct <strong>the</strong>ir bus<strong>in</strong>ess relationship. <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> agents do<br />
not receive salaries. They only get paid for <strong>the</strong>ir successes. The major focus of <strong>the</strong>ir efforts will always be<br />
those properties where <strong>the</strong>y have entered <strong>in</strong><strong>to</strong> a written agreement with a seller.<br />
Properties do sell under an open mandate – but, n<strong>in</strong>e times out of ten, <strong>the</strong>se properties sell for less than actual<br />
market value. Ask your <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> agent for more detailed explanation and <strong>the</strong>n ask yourself what<br />
monetary value you will be prepared <strong>to</strong> gamble with <strong>in</strong> respect of <strong>the</strong> eventual sell<strong>in</strong>g price of your <strong>property</strong>.<br />
A signed agreement between you and <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> will ensure that you are guaranteed a professional<br />
service from which you can only benefit. Not only is <strong>the</strong> <strong>in</strong>dividual estate agent bound <strong>to</strong> you by <strong>the</strong> guidel<strong>in</strong>es<br />
of <strong>the</strong> mandate, but <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong>, work<strong>in</strong>g with<strong>in</strong> <strong>the</strong> constra<strong>in</strong>ts of <strong>the</strong> <strong>Estate</strong> Agent’s Board Code of Conduct,<br />
will also have an obligation <strong>to</strong> ensure that you are always dealt with <strong>in</strong> an ethical and open relationship.<br />
A sole mandate for a reasonable period of time, will not only protect your <strong>property</strong> from <strong>the</strong> ravages of <strong>in</strong>teragency<br />
competition, but you will also be able <strong>to</strong> expect constant feed-back, regulated and controlled market<strong>in</strong>g<br />
and <strong>the</strong> best possible sell<strong>in</strong>g price, accord<strong>in</strong>g <strong>to</strong> prevail<strong>in</strong>g market conditions. Where, on <strong>the</strong> odd occasion, a<br />
compet<strong>in</strong>g estate agency may be able <strong>to</strong> f<strong>in</strong>d a prospective purchaser not already be<strong>in</strong>g dealt with by one of<br />
your estate agents, <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> will make every effort <strong>to</strong> secure a shared sale.<br />
<strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> will be accountable <strong>to</strong> you. <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> will spend money on ensur<strong>in</strong>g that your <strong>property</strong><br />
is marketed correctly. <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> will ensure that your <strong>property</strong> is exposed <strong>to</strong> <strong>the</strong> widest possible range<br />
of prospective purchasers.<br />
The Decision Is Yours………<br />
0861 <strong>Hall</strong> 46<br />
www.hallrealestate.co.za
www.hallrealestate.co.za<br />
UNDERSTANDING THE SOLE<br />
AUTHORITY TO SELL DOCUMENT<br />
The Authority is structured <strong>to</strong> afford sellers protection from claims for double commission and allows <strong>the</strong> appo<strong>in</strong>ted estate<br />
agent time <strong>in</strong> which <strong>to</strong> market <strong>the</strong> <strong>property</strong> correctly, <strong>the</strong>reby ensur<strong>in</strong>g that <strong>the</strong> <strong>property</strong> achieves <strong>the</strong> maximum sell<strong>in</strong>g<br />
price accord<strong>in</strong>g <strong>to</strong> prevail<strong>in</strong>g market conditions.<br />
It is a common concern of sellers that sign<strong>in</strong>g an Authority with a company precludes o<strong>the</strong>r estate agencies from sell<strong>in</strong>g<br />
<strong>the</strong> <strong>property</strong>. It is a policy of <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> <strong>to</strong> allow our estate agents <strong>to</strong> share list<strong>in</strong>gs with o<strong>the</strong>r selected estate agencies<br />
– we shall make every effort <strong>to</strong> ensure that <strong>the</strong> <strong>property</strong> is sold.<br />
CLAUSE 1 –<br />
CLAUSE 2 –<br />
CLAUSE 3 –<br />
CLAUSE 4 –<br />
CLAUSE 5 –<br />
CLAUSE 6 –<br />
CLAUSE 7 –<br />
The purchase price is determ<strong>in</strong>ed by you as <strong>the</strong> seller and should reflect<br />
<strong>the</strong> current market value of <strong>the</strong> <strong>property</strong>, which is determ<strong>in</strong>ed by what will<strong>in</strong>g and able purchasers would<br />
pay for <strong>the</strong> <strong>property</strong>. The value of a residential home is <strong>the</strong>refore not calculated accord<strong>in</strong>g <strong>to</strong> replacement,<br />
municipal or <strong>in</strong>surance values. It is <strong>the</strong> estate agent’s responsibility <strong>to</strong> <strong>in</strong>form you as <strong>to</strong> <strong>the</strong> market, by<br />
means of a Comparative Market Analysis.<br />
Commission is calculated on <strong>the</strong> gross purchased price plus Value Added Tax. Commission is earned on<br />
<strong>the</strong> conclusion of a valid and b<strong>in</strong>d<strong>in</strong>g agreement of sale and <strong>the</strong> fulfillment of suspensive conditions<br />
conta<strong>in</strong>ed <strong>the</strong>re<strong>in</strong> (if any) and is payable on registration of transfer of <strong>the</strong> <strong>property</strong> <strong>in</strong><strong>to</strong> <strong>the</strong> name of <strong>the</strong><br />
purchaser.<br />
The agent is afforded protection <strong>in</strong> <strong>the</strong> event of a seller sell<strong>in</strong>g <strong>the</strong> <strong>property</strong> dur<strong>in</strong>g <strong>the</strong> course of <strong>the</strong><br />
Authority, ei<strong>the</strong>r personally or through <strong>the</strong> services of ano<strong>the</strong>r estate agency and without <strong>the</strong> consent of<br />
<strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong>. On <strong>the</strong> conclusion of <strong>the</strong> Authority and if <strong>the</strong> <strong>property</strong> rema<strong>in</strong>s unsold, <strong>the</strong> agent will<br />
supply you with a list of parties who expressed <strong>in</strong>terest <strong>in</strong> purchas<strong>in</strong>g <strong>the</strong> <strong>property</strong>. This list should be<br />
made available <strong>to</strong> any o<strong>the</strong>r estate agency, which subsequently markets <strong>the</strong> <strong>property</strong>, so as <strong>to</strong> avoid claims<br />
for double commission.<br />
The expiry date of <strong>the</strong> Authority which must be expressed as a calendar date.<br />
At <strong>the</strong> agent’s discretion, a “FOR SALE” board may be displayed on <strong>the</strong> <strong>property</strong> dur<strong>in</strong>g <strong>the</strong> course of<br />
<strong>the</strong> Authority.<br />
An opportunity is afforded <strong>to</strong> you <strong>in</strong> which <strong>to</strong> disclose any defects <strong>to</strong> <strong>the</strong> <strong>property</strong> of which you may be<br />
aware. The clause fur<strong>the</strong>r stipulates that on <strong>the</strong> sale of <strong>the</strong> <strong>property</strong>, you will be required <strong>to</strong> provide <strong>the</strong><br />
purchaser with a Certificate of Compliance, regard<strong>in</strong>g <strong>the</strong> electrical <strong>in</strong>stallation on <strong>the</strong> premises.<br />
Should you not fully understand any of <strong>the</strong> clauses <strong>in</strong> <strong>the</strong> Authority, please do not hesitate <strong>to</strong> ask <strong>the</strong> agent.<br />
Please remember that you, as <strong>the</strong> seller, will determ<strong>in</strong>e how quickly your <strong>property</strong> will sell and at what price. You will set<br />
<strong>the</strong> price, <strong>the</strong> terms and conditions – <strong>the</strong> agent will market <strong>the</strong> <strong>property</strong> accord<strong>in</strong>g <strong>to</strong> <strong>the</strong>se stipulations.<br />
0861 <strong>Hall</strong> 46<br />
www.hallrealestate.co.za
www.hallrealestate.co.za<br />
UNDERSTANDING THE OFFER TO<br />
PURCHASE DOCUMENT<br />
The <strong>in</strong>itial clause conta<strong>in</strong>s <strong>the</strong> full descriptions of <strong>the</strong> parties <strong>in</strong>volved, <strong>the</strong>ir choice of legal address and full description<br />
of <strong>the</strong> <strong>property</strong>.<br />
CLAUSE 1 –<br />
CLAUSE 2 –<br />
CLAUSE 3 –<br />
CLAUSE 4 –<br />
CLAUSE 5 –<br />
CLAUSE 6 –<br />
CLAUSE 7 –<br />
CLAUSE 8 –<br />
CLAUSE 9 –<br />
CLAUSE 10 –<br />
Provision is made for <strong>the</strong> purchase price, <strong>the</strong> purchaser’s price, <strong>the</strong> purchaser’s deposit (and <strong>the</strong> period<br />
for <strong>the</strong> payment <strong>the</strong>reof) as well as a provision for <strong>the</strong> payment of <strong>the</strong> balance of <strong>the</strong> purchase price <strong>in</strong><br />
<strong>the</strong> form of guarantees with<strong>in</strong> a certa<strong>in</strong> time period.<br />
Any rent accru<strong>in</strong>g from <strong>the</strong> <strong>property</strong> and <strong>the</strong> obligation <strong>to</strong> <strong>in</strong>sure <strong>the</strong> <strong>property</strong> (risk) shall pass <strong>to</strong> <strong>the</strong><br />
purchaser on <strong>the</strong> date of transfer.<br />
The conditions of transfer which shall be effected by <strong>the</strong> seller’s appo<strong>in</strong>ted conveyanc<strong>in</strong>g At<strong>to</strong>rneys. The<br />
purchaser is obliged <strong>to</strong> sign all documentation when called upon <strong>to</strong> do so.<br />
The purchaser’s application for a home loan, <strong>the</strong> grant<strong>in</strong>g of which shall be a suspensive condition i.e.<br />
<strong>the</strong> sale shall be deemed <strong>to</strong> be valid and b<strong>in</strong>d<strong>in</strong>g once <strong>the</strong> loan has been approved. The amount of <strong>the</strong><br />
loan is specified and <strong>the</strong> seller, or <strong>the</strong> agent on <strong>the</strong> seller’s behalf, is authorized <strong>to</strong> make <strong>the</strong> application<br />
for <strong>the</strong> loan, The purchaser warrants that his earn<strong>in</strong>gs are sufficient <strong>to</strong> qualify for <strong>the</strong> loan as contemplated.<br />
An extension of time is granted for <strong>the</strong> provision of guarantees, should <strong>the</strong> loan not be granted with<strong>in</strong> <strong>the</strong><br />
time period as contemplated.<br />
<strong>Estate</strong> agent’s commission. Commission is earned on fulfillment of all suspensive conditions and is payable<br />
on registration of transfer of <strong>the</strong> <strong>property</strong> <strong>in</strong><strong>to</strong> <strong>the</strong> name of <strong>the</strong> purchaser. Should <strong>the</strong> sale be cancelled<br />
by reason of breach of <strong>the</strong> terms and conditions of <strong>the</strong> agreement, <strong>the</strong> agent is entitled <strong>to</strong> claim commission<br />
from <strong>the</strong> default<strong>in</strong>g party. Please note that <strong>Hall</strong> <strong>Real</strong> <strong>Estate</strong> is a vendor and is required <strong>to</strong> charge Value<br />
Added Tax on commission.<br />
Any legal action <strong>in</strong>stituted by ei<strong>the</strong>r of <strong>the</strong> parties will be settled <strong>in</strong> a local Magistrate’s Court so as <strong>to</strong> avoid<br />
unnecessary costs and time delays.<br />
The terms and conditions as a result of breach by ei<strong>the</strong>r party.<br />
Fixtures and fitt<strong>in</strong>gs <strong>in</strong>cluded <strong>in</strong> a sale. It is important that, prior <strong>to</strong> a sale, you draw <strong>the</strong> agent’s attention<br />
<strong>to</strong> any items that you may wish <strong>to</strong> remove or that are not <strong>in</strong> good work<strong>in</strong>g order.<br />
Occupation of <strong>the</strong> <strong>property</strong> by <strong>the</strong> purchaser and <strong>the</strong> occupational rent payable by <strong>the</strong> party <strong>in</strong> occupation<br />
of <strong>the</strong> <strong>property</strong> when <strong>the</strong> o<strong>the</strong>r is entitled <strong>to</strong> such.<br />
Utilized should <strong>the</strong> purchaser elect <strong>to</strong> form a Close Corporation or company as a vehicle <strong>in</strong> which <strong>to</strong><br />
purchase <strong>the</strong> <strong>property</strong>.<br />
CLAUSE 11 – A warranty from <strong>the</strong> purchaser that he is legally entitled <strong>to</strong> purchase <strong>the</strong> <strong>property</strong>.<br />
CLAUSE 12 –<br />
CLAUSE 13 –<br />
Authorization for <strong>the</strong> agent <strong>to</strong> erect a “SOLD” board on <strong>the</strong> <strong>property</strong> – usually done on <strong>the</strong> fulfillment of<br />
all suspensive conditions.<br />
A section <strong>in</strong> which <strong>to</strong> <strong>in</strong>clude any o<strong>the</strong>r matters that perta<strong>in</strong> <strong>to</strong> <strong>the</strong> sale of <strong>the</strong> <strong>property</strong>.<br />
PLEASE NOTE : At <strong>the</strong> section <strong>in</strong> which you will sign your acceptance of <strong>the</strong> offer, you will give a warranty <strong>to</strong> <strong>the</strong> effect<br />
that <strong>the</strong> <strong>property</strong> does not conta<strong>in</strong> any structural defects of which you are aware and that all improvements <strong>to</strong> <strong>the</strong> <strong>property</strong><br />
have been approved by <strong>the</strong> relevant Local Authority.<br />
0861 <strong>Hall</strong> 46<br />
www.hallrealestate.co.za