All stamp duty to be paid in respect of the provisional agreement, the formal agreement and the subsequent assignment are to be paid by the buyer. In the event that the price indicated in one of the documents cited is not recognized by the stamp receipt collector as the actual consideration for the good, the additional stamp duty collected by the stamp receipt collector according to his valuation of the good is also borne and paid by the buyer. The completion date and time are indicated in the formal agreement. The completion time is usually between 9 a.m. and 5 p.m. when the completion date falls on a day Monday through Friday or between 9 a.m. and 1 p.m. if it falls on a Saturday. The seller and the buyer agree to conclude the sale and purchase of the property on December 15, 2001.
The seller paid a measurement of USD 1,800.00 for the months of October to December 2001, but did not pay the administrative fee of USD 800 for the month of December 2001. The deposit for administrative fees is 1,800.00 USD. On the basis of the seller`s payment until the date of completion, but exclusively, the direct debit account will be as follows: these will be defined in the formal agreement. Note: Online file access is via your “My CPD” page. If you would like to purchase multiple packages, please contact us here. Time is essential for the formal agreement (i.e. t.b both parties must strictly adhere to the deadlines set out in the agreement). With respect to the completion period, the court held in a number of cases that even if the buyer was only a few minutes late in submitting the purchase price on the day of completion, the buyer breached the agreement because time was of the essence. For example, if the time of completion is indicated on 31 December 2001 at 5 p.m. or before 5 p.m., the buyer must offer the seller the balance of the purchase price at or before 5 p.m.
on 31 December 2001, and any delay beyond 5 p.m. leads the buyer to breach the agreement and give the seller the right to lose the deposits and cancel the sale. Ownership instruments that relate exclusively to the property are given to the buyer. Immediately after the signing of the formal agreement, the property is done at the risk of the buyer. * * There are 31 days per month of December. There are 14 days from December 1st to December 14th. With regard to other ancillary costs such as water, gas and electricity, it is customary for the seller to receive a refund of the corresponding deposits directly from the suppliers and for the buyer to pay deposits to the suppliers to open accounts in the name of the buyer. It is also recommended that the seller record utility meter readings once completed to determine the seller`s commitments to these charges.
The seller authorises the buyer`s mortgage borrower to visit the property once for valuation purposes, after the seller has been duly informed in advance before its completion. Potential buyers should carefully read the documents provided by the seller containing information about the agreements for the sale of a residential complex and ensure the obligation to personally sign PASP/ASP. When in doubt, interested buyers should make requests to the seller and consider consulting professionals. . . .