deed of sale - harcourts real .subsequent deeds of transfer and to all other rights of, ... shall
Post on 01-Sep-2018
Embed Size (px)
DEED OF SALE
MEMORANDUM OF AN AGREEMENT OF SALE MADE AND ENTERED INTO
BY AND BETWEEN
RESIDENTIAL ESTATE DENNEGEUR (PROPRIETARY) LIMITED
Registration Number 1998/011687/07
(Represented herein by Marc Jan Clement Peeters he being duly authorised hereto)
C/o Morkel & De Villiers Incorporated
13 Drama Street
(hereinafter referred to as the Seller)
(hereinafter referred to as the Purchaser)
KINGSHILL CONSTRUCTION CC
Registration number (2010/061395/23)
(represented herein by JOHN TURNER he being duly authorised hereto)
of 401 Houghton Place, Norfolk Road, Sea Point, 8005
(hereinafter referred to as the Contractor)
David Miller & Associates T/A HARTCOURTS PLATINUM
of Triangle Point, 13 Urtel Crescent, Somerset West, 7130
(hereinafter referred to as the Agent)
1. The Seller is the registered owner of the property and intends to sell the property
to the Purchaser.
2. The Contractor is a Building Contractor who intends to improve the property by
contracting the dwelling thereon.
3. The Purchase intends to purchase and take transfer of the property together with
the completed dwelling thereon from the Seller and the Contractor respectively.
4. The parties have reached agreement on the abovementioned and wish to record
such a agreement in writing.
The Seller hereby sells to the Purchaser who hereby purchases the property together with
the dwelling to be constructed thereon by the Contractor for the total purchase price as set
The Property is described as:-
ERF __________ SOMERSET WEST, situate in the City of Cape Town , Division
of Stellenbosch, Western Cape Province;
MEASURING : ______________________________________
AS WILL more fully appear from the copy of the General Plan appended hereto as
(hereinafter referred to as the "Property")
The sale is subject to any and every condition and servitude specified in the original and
subsequent Deeds of Transfer and to all other rights of, and conditions imposed by any
No warranty is given in respect of the boundaries of the property sold. Further, the Seller
shall not be responsible for pointing out or indicating the position of any Surveyors beacons
or pegs in respect of the property.
2. TOTAL PURCHASE PRICE
The total Purchase price is the sum of:
R______________________________________ (including VAT) being
R _________ in respect of the property and
R ___ being in respect of the amount required and
allocated to the construction of the dwelling on the property as represented and defined in
Annexure B" hereto
The said amount shall be payable by the Purchaser to the Seller and Contractor as
2.1 a deposit of 10% of the purchase price of the property on signature to the
Seller's Attorneys Messrs MORKEL & DE VILLIERS INC/ING of "The
Forum", Drama Street, Somerset West, who are hereby authorised to invest
same in an interest bearing account for the benefit of the Purchaser.
2.2 The balance of the total purchase price of
registration of transfer of the property into the name of the Purchaser. The
Purchaser shall at the request of the attorneys passing transfer provide them
and/or a third party whom they may nominate, with a bank or other
acceptable guarantee for the payment of the balance of the purchase price.
Such guarantee shall be provided within 21 (twenty one) days of being
requested by the transferring attorneys.
All payments made by the Purchaser in terms of this Deed of Sale shall be payable free of
bank exchange at Somerset West.
3. VALUE ADDED TAX
It is recorded that the Seller and the Contractor are registered Vendors in terms of the
Value Added Tax Act of 1991 and that the purchase price set out in Clause 2 hereof is
inclusive of Value Added Tax. In the event of the rate at which Value Added Tax is
chargeable being increased after the date of signature hereof, the purchase price shall be
increased by the amount by which the Value Added Tax has increased to ensure that the
purchase price received by the Seller and the Contractor is the same as it was prior to the
increase in Value Added Tax.
4.1 Interest shall be charged at the prime bank interest rate as charged by Nedbank
from time to time, plus 3% (THREE PERCENT) on every amount payable by the
Purchaser to the Seller in terms of this agreement, if any such amount is not paid
on due date whether such date is fixed in the agreement or in a written demand
made by the Seller to the Purchaser. Should the guarantee referred to in Clause 2
not be delivered by due date, the penalty interest referred to in this clause shall
likewise be payable from due date to date of payment.
4.2 Such interest shall accrue from the date that the Purchaser is in breach until the
actual date of payment of such amount, or in the event that the guarantee is not
furnished, from due date to the date of registration of transfer (both days inclusive)
and shall be paid by the Purchaser to the Seller prior to the transfer of the
4.3 Unless otherwise provided herein all payments on account of the purchase price,
interest, rates, taxes and other charges provided for in terms of this agreement
shall be made by the Purchaser to the Seller, free of all bank costs or other
deductions at the offices of the Seller or at such other place in the Republic of
South Africa as the Seller may from time to time direct in writing.
5. POSSESSION AND VACANT OCCUPATION
5.1 The Seller shall give the Purchaser one calendar month written notice of the
date of completion of the construction of the dwelling in terms of this
Agreement, from which date possession and vacant occupation shall be given
to the Purchaser.
5.2 In the event of the Owners Association referred to in Clause 16.2.2 hereafter
having set levies the Purchaser shall also be liable for such levies as from date
6. RATES AND TAXES
The Municipal and other rates and charges levied against the property shall be apportioned
pro rata between the Seller and Purchaser, calculated from the date of possession; the
Seller being responsible for such rates and other charges up to the date of possession and
the Purchaser shall be responsible for such rates thereafter.
Transfer shall be given and taken as close as possible to the date of Possession
referred to in Clause 5.1, or such extended period as the Seller in his sole discretion
may allow, but the Seller shall not be responsible for any delay in respect of the
registration of transfer arising from any cause whatsoever (other than the negligence of
the Seller) nor shall such delay affect the Purchaser's liability for the payment of the
purchase price. Transfer shall be passed by the Seller's attorneys, MESSRS MORKEL
& DE VILLIERS.
8. COSTS OF TRANSFER
The Purchaser shall pay all costs of and incidental to the registration of transfer and other
related charges, and all these costs shall be paid and the transfer documents signed by
the Purchaser within ten (10) days of the Purchaser being required to do so by the
Transferring Attorneys; failure to sign the said documents within the required time shall
constitute a material breach of this contract.
It is recorded that in view of the fact that this sale is inclusive of VAT no transfer duty is
The Seller is responsible for payment of Agent's commission on the aforesaid value of the
property and the Contractor is responsible for payment of Agent's commission on the
contract sum. The Purchaser acknowledges that they were introduced to the property by
the Agent and no one else.
The parties do respectively nominate and appoint the addresses set forth in the heading of
this Agreement or such other addresses as they may at any time advise