Q. What can cause delays?
Various factors can cause delays e.g. the municipality requiring additional documentation or funds when rates clearance is applied for, either party delaying payment of the required funds, the tax affairs of either party not being up to date. The funding of rates, levies, transfer duty and VAT is critical. Finance needs to be readily available from the appropriate party)ies, on demand, to prevent delays.
Q. What is the importance of Title Deeds?
Onerous conditions - the conditions of title and any servitudes over a property are reflected in Title Deeds. For e.g. any form of servitude, or restrictive condition regarding usage. It is well worth inspecting the Title Deeds to avoid any dispute at a later stage.
Q. About Beacons?
If the buyer is not happy with the various beacons defining the boundaries of the property, insert a clause stating that the seller is responsible for a resurvey, within a stipulated period.
Q. Fixtures and Fittings?
Normally if of a permanent nature, these will remain on the property, and form part of the purchase price. Any items in doubt, such as a TV aerial, chandelier, garden wendy house and pool cleaning equipment - ensure that it is referred to in the Agreement of Sale as a fixture which should remain and that is in working condition on date of registration.
Q. New residential property under construction?
When buying a new home which still has to be completed, draft specifications with the builder for the completion of the house and attach this to the Sale Agreement. Insert a special clause which states that the seller undertakes to complete the dwelling in accordance with the specification and local building by-laws, and furthermore, that the seller undertakes to complete the dwelling for occupation on or before a specified date. In addition, ensure that the builder is registered with the National Home Builder Registration Council (NHBRC).
Q. Understanding the term Voetstoots (As Is)?
Ensure that all patent defects that are noted by yourself are stipulated as a special provision in your offer to purchase, and that there is a clear understanding and insertion in regard to which party will be responsible for the repair thereof. Should the seller have any knowledge of any hidden or latent defects, he/she would need to disclose such defect in the Deed of Sale, in order to release him/herself from any liability in regard to the repair thereof.