02
NEGOTIATE A CONTRACT
THE PROCESS
TThe Seller has a price in mind and usually a deposit is required to ensure the Buyer’s commitment.
The Buyer can request that alterations are done to the property before registration, eg roof repairs or kitchen to be repainted.
The Buyer can also request a copy of the municipal plans to ensure compliance with building regulations.
The Buyer might need to sell his own property first before being able to afford the new one and the Seller may need to find a new home.
A suitable date for the handover of the property needs to be agreed on as well as a rental amount should the registration take place after the move.
All these conditions need to be in the contract of sale, or they are not enforceable.
ROLE PLAYERS
THE
SELLER
THE
BUYER
THE
ESTATE AGENT
POTENTIAL DELAYS
Not agreeing on price or the terms and conditions. The Seller or the Buyer not being available to sign the agreement of sale.