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Buying Property & Due Diligence
Article 17 of 74

The Offer to Purchase is a binding legal document.

In South Africa, a sale of land generally has no force or effect unless it is contained in a deed of alienation signed by the parties or their authorised agents. An Offer to Purchase should therefore never be treated as a casual reservation form.

Insights›Buying Property & Due Diligence
PROPERTY INSIGHT 17 The Offer to Purchase is a binding legal document.

What to know

  • Read every clause before signing, including special conditions and deadlines.
  • Make sure names, property description, price and material terms are correct.
  • Do not assume a cooling-off period applies to an ordinary residential sale.
  • Get legal advice before signing if any clause, annexure or consequence is unclear.
Professional advice

This guidance is general information. Where legal, tax, structural, compliance or regulated-work consequences may apply, obtain advice from an appropriately qualified professional for your circumstances.

Research anchorAlienation of Land Act 68 of 1981, section 2(1).
Important Information

The information in Fabulous Homes Insights is provided for general property education and information. Property, tax, finance, sectional-title, rental, municipal and compliance matters can differ according to individual circumstances, contractual terms, scheme rules, municipal requirements and changes in law. Where necessary, readers should obtain advice from an appropriate attorney, conveyancer, tax practitioner, financial professional, property practitioner, engineer, inspector or other suitably qualified professional.

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