Posted on 4/17/2025 12:55 PM By Cor van Deventer
The moment a seller signs and accepts a written offer, a property sale agreement comes into legal existence. But while the contract is technically valid from that point, it isn’t always immediately enforceable. Most sale agreements include suspensive conditions—clauses that suspend the legal effect of the contract until certain events take place.
Posted on 1/9/2025 12:42 PM By Cor van Deventer
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.