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When a rouwkoop clause occurs in a sale agreement of an immovable property, a deposit is paid to the seller which would be forfeited in the event of the buyer withdrawing from the sale agreement.
Why is the seller entitled to appoint the conveyancing attorney when the buyer is responsible for paying him or her?
In a court ruling in the Pietermaritzburg High Court, an issue was presented when the daughter of Mr Singh, a Mount Edgecombe resident, was fined for speeding on the estate.
It is important that a prospective property buyer understands the various terms of an offer to purchase before completing, signing and submitting one.
A person who enters into a sale needs to be aware of the legal implications that could arise if they decide to pull out of the property purchase which would be a breach of the sale contract.
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