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Agreement of Sale Voetstoots

Agreement of Sale Voetstoots: What it Means for Property Buyers and Sellers

If you`re in the process of buying or selling property in South Africa, you may have come across the term “voetstoots” in the agreement of sale. This term, which means “as is” or “with all faults” in Afrikaans, is a common clause in property sales contracts. But what does it really mean, and how does it affect buyers and sellers?

In simple terms, an agreement of sale voetstoots is a legal document that states that the property is being sold in its current condition, and that the seller is not responsible for any defects or faults that may be present. This means that once the transfer of ownership is complete, the buyer assumes all responsibility for any repairs or maintenance that may be required.

For sellers, the voetstoots clause offers protection against potential claims from buyers regarding defects or faults in the property that may only become apparent after the sale. This can include hidden defects, such as damp or structural issues, that may not be visible during the initial inspection.

However, for buyers, the voetstoots clause can be a cause for concern. Without proper due diligence, buyers may be unaware of any hidden defects or issues that they are taking on with the property. This can potentially lead to costly repairs or legal battles down the line.

To protect themselves, buyers are advised to conduct a thorough inspection of the property before signing the agreement of sale. This may include hiring a professional inspector to check for any hidden defects or issues that may not be immediately apparent. It`s also important to ask the seller to disclose any known defects or issues with the property, and to ensure that these are included in the agreement of sale.

It`s worth noting that in some cases, the voetstoots clause may not be applicable. For example, if the seller deliberately conceals or misrepresents a defect or issue with the property, the buyer may have grounds to make a claim against them. Additionally, if the seller is a developer or a professional property seller, they may not be able to include the voetstoots clause in the agreement of sale, as they are bound by consumer protection laws.

In conclusion, the voetstoots clause is a common aspect of property sales agreements in South Africa. While it offers protection to sellers, buyers should take care to conduct proper due diligence and ensure that they are aware of any potential defects or issues with the property before signing the agreement of sale. By doing so, both parties can ensure a smooth and stress-free transaction.

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