Question
Obtain the Offer to purchase form from your agency. Read the case study below and then prepare an offer to purchase and fill the terms
Obtain the "Offer to purchase" form from your agency. Read the case study below and then prepare an offer to purchase and fill the terms and conditions in accordingly using fictitious names and addresses. If necessary make use of annexures.
A married couple wish to make an offer on 29 York Avenue, in the suburb where you live. They are prepared to offer R650 000 and pay a 20% deposit to be kept in trust until the date of transfer, interest to accrue to the buyer. They suggest that you write the following terms and conditions into their offer to purchase: They need to arrange finance for the balance of the purchase price. Commission of 5.6% is payable by the seller on date of transfer. They are married in community of property. They wish to take transfer as soon as possible and want to take occupation two months after the date of signature. They are willing to pay occupational rental of R5 000 per month. They would like the seller to include all the curtains in the house as well as the dishwasher and stove. They insist that the seller repair the broken tiles in the bathroom. The wife's mother needs to still view the property and approve of the purchase. The offer is irrevocable and needs to be kept open for acceptance for 24 hours. The seller of the above property, accepts all the terms and conditions as set out in the offer to purchases above, but does not want the buyers moving in before transfer (wise man!). He therefore wants to make a counter offer.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started