Sale of Land in Instalments Agreement
This agreement can be used where the purchaser of a property pays the sale price off in instalments to the seller, as opposed to obtaining a mortgage bond from a financial institution. The contract sets out the basis on which the property will be transferred, and the terms of payment to the seller.
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SALE OF LAND IN INSTALMENTS AGREEMENT
No Agent involvement
Summary This Sale of Land in Instalments Agreement can be used where the purchaser of immovable property pays the sale price off in instalments to the seller, as opposed to obtaining a mortgage bond from a financial institution. This agreement sets out the basis on which the property will be transferred, and the terms of payment to the seller.
This Sale of Land in Instalments Agreement does not provide for estate agent’s commission payments. View this agreement if an agent is involved.
Where the seller intends to purchase the property for cash, or will be using finance obtained under a mortgage bond, then you will need Offer to Purchase (Sale of Land).
Who should use this Sale of Land in Instalments? A property owner and purchaser of the property can use this Sale of Land in Instalments Agreement to negotiate and specify the details of the sale of property and the payment of the instalments to the seller.
What does the Sale of Land in Instalments Contract say? The Agreement covers the following issues: parties; purchase and sale; purchase price; occupation; costs; suspensive conditions; registration and transfer; possession, risk and benefits; liability; company or close Corporation; default; cooling off period; general; special conditions; signatures.
What does the Sale of Land in Instalments look like? The Agreement can be printed onto fifteen pages.
What do you need to do to use the Sale of Land in Instalments?
- Read the document to ensure that it suits your requirements. Make changes as required.
- Complete the relevant details in the agreement.
- Ensure that the agreement is signed by the Seller and Purchaser.
- Once the Agreement is completed and signed, give the document to the Conveyancers to register the sale.
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