Where parties are in negotiations to finalise an offer to purchase for immovable property, it must be clearly noted that an offer to purchase only becomes binding once ALL the parties agree to the conditions and counter offers thereto. Where a counter offer is made and not agreed to by the other party, then such…
Agreements of sale should always be conducted in good faith and therefore it is important for the owner / seller of immovable property to always disclose relevant facts to a prospective buyer and the agent to not only ensure complete transparency, but also to prevent any unnecessary claims for damages due to non-disclosure. A case…
VOETSTOOTS VS LATENT DEFECTS – RECENT LAW REPORTS Ellis and Another v Cilliers N.O and Others (16936/11) [2015] ZAWCHC 145 (9 October 2015) The factual background to the dispute is briefly as follows: The Plaintiffs bought a wooden house built into a slope and the front is on so-called “stilts”. When they started…
With the sale of a residential property, property owners are obliged to provide Electric System Compliance Certificates (ECC) prior to date of registration. The ECC are valid for a period of 2 years and is a statutory requirement, meaning that it cannot be waived by mutual consent. As from the 1st of October 2012 all…
SPECIAL / SUSPENSIVE CONDITIONS – HEIGHT RESTRICTIONS Introduction: In the Real Estate industry, the protection of property views can be a crucial and deciding factor when considering an offer to purchase. By concluding a sale agreement between a Seller and Purchaser, the real estate agent establishes a relation between the parties, stretching for a…