The As Is Real Estate Contract is specifically designed for property transactions in South Africa where the seller wishes to transfer the property in its current condition, with limited warranties or representations about its state. This document type is commonly used for properties requiring renovation, distressed sales, or where the seller has limited knowledge of the property's condition. While it's an "As Is" sale, South African law still requires certain mandatory disclosures and compliance with the Property Practitioners Act, Consumer Protection Act, and Alienation of Land Act. The contract balances the "as is" nature of the sale with consumer protection requirements, making it suitable for both private and commercial property transactions. It includes comprehensive details about the property's condition, known defects, and necessary compliance certificates, while clearly stating the limited nature of the seller's warranties.
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1. Parties: Identification and details of the Seller and Purchaser
2. Background: Context of the sale and brief description of the property
3. Definitions and Interpretation: Key terms used in the agreement and rules for interpretation
4. Property Description: Detailed description of the property including erf number, title deed details, and physical address
5. Purchase Price: Amount, payment terms, and deposit requirements
6. 'As Is' Provisions: Clear statement that property is sold 'as is' with specific disclaimers and acknowledgments
7. Mandatory Disclosures: Legally required disclosures under South African law, including known defects
8. Transfer and Registration: Process and timing for property transfer, including appointment of conveyancer
9. Risk and Possession: Transfer of risk and possession arrangements
10. Rates, Taxes and Charges: Responsibility for municipal rates, taxes, and utility charges
11. Transfer Costs: Allocation of transfer costs, duties, and legal fees
12. Estate Agent Commission: Details of estate agent commission if applicable
13. Breach: Consequences and remedies for breach by either party
14. Dispute Resolution: Process for resolving disputes between parties
15. Notices and Domicilia: Communication methods and official addresses for notices
16. General Terms: Standard contractual provisions including whole agreement, variation, and governing law
1. Mortgage Bond: Include when purchaser requires bond financing, detailing conditions and timeframes
2. Occupational Rent: Include when there's a gap between transfer and occupation dates
3. Property Syndication: Include for multiple purchasers buying together
4. Tenant Rights: Include if property is currently tenanted
5. Swimming Pool Certificate: Include if property has a swimming pool requiring compliance certificate
6. Electrical Compliance: Include specific provisions about electrical certificates if not covered in mandatory disclosures
7. Gas Installation Certificate: Include if property has gas installations
8. NHBRC Enrollment: Include for properties less than 5 years old requiring NHBRC certification
1. Property Details Schedule: Detailed description of property including plans and diagrams
2. Defects Disclosure Schedule: List of known defects and condition issues
3. Fixture and Fittings Schedule: List of items included and excluded from the sale
4. Property Compliance Certificates: Copies of required compliance certificates
5. Proof of Payment Schedule: Record of deposit and payment installments
6. Property Rules and Regulations: If property is in an estate or complex, relevant rules and regulations
7. Property Photos: Photographic record of property condition at time of sale
8. Outstanding Charges Statement: Statement of municipal accounts and outstanding charges
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Legal Services
Financial Services
Construction
Property Management
Banking
Insurance
Property Investment
Conveyancing
Relevant Teams
Legal
Real Estate
Compliance
Sales
Property Management
Risk Management
Business Development
Operations
Finance
Administrative
Relevant Roles
Real Estate Agent
Property Lawyer
Conveyancing Attorney
Property Developer
Real Estate Broker
Property Manager
Legal Counsel
Compliance Officer
Property Investment Manager
Real Estate Investment Analyst
Contract Manager
Property Administrator
Sales Manager
Business Development Manager
Risk Manager
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