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Conveyancing and Property Transfers
The Sale Agreement can also be known as the Offer to Purchase (OTP), where the buyer signs and submits the offer to purchase the seller’s immovable property. If the seller accepts the terms, they will also sign the agreement, and it becomes a legal and binding Sale Agreement. Once signed by both parties, withdrawing can incur severe penalties, unless one of the parties has failed to fulfil a condition of the agreement.
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The conveyancing process in South Africa can be complex, but understanding the potential pitfalls can help you avoid unnecessary delays and costs. If you're buying or selling property, working with a trusted conveyancer will ensure that the process is as smooth and efficient as possible.
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