06

FULFILL SUSPENSIVE CONDITIONS

THE PROCESS

Often bond approval, the sale of the buyer’s home or the seller finding another property to buy or rent are listed in the contract of sale as being requirements for the sale to be final.

A date for the conclusion of these conditions needs to be stipulated in the contract so that the finalisation of the sale is not unduly delayed.

These conditions need to have been met and the purchase price needs to have been secured in cash or guarantee before the transfer process can begin.

ROLE PLAYERS

THE
SELLER

THE
BUYER

LINKED
TRANSFER ATTORNEY

POTENTIAL DELAYS

Delayed bond approval, the Buyer or Seller not finding a suitable property timeously or, if they do, that the linked sale or purchase is then also suspensive on certain conditions. Funds not being sufficient or available to secure the purchase price.