Sole & Exclusive Mandate To Sell A Property
1. Seller & Property details
Seller type: Natural Person / Name of Company / Close Corporation / Trust:
I/we, full names and surnames:
Representative of Juristic person:
Identity / Registration numbers:
being the registered owner/s (hereinafter the ‘Seller’) of the following property:
Erf Number & Township:
Scheme Name & Section Number:
Municipality & Province:
Physical Address:
hereby grant GJC Burger CC Reg.nr 2007/219889/23 trading as Burger Business Brokers and abbreviated as ‘BBB’ hereinafter (the ‘Agent’) as the sole and exclusive agent to market and procure the sale of the above-mentioned property, together with all buildings and structures thereon, as well as all fixtures and fittings of a permanent nature.
2. Sales price
The Seller requires the property to be sold at a selling price of R (insert amount & words):
- Including VAT meaning the Seller will pay 15% of the Sales Price to SARS; or
- Excluding VAT meaning the Purchaser will pay Transfer Duty (delete where N/A),
which selling price shall include agent’s commission and is warranted by the Seller to be adequate to cover all amounts due in respect of the property. It is expressly recorded that the agreed selling price shall be deemed to have been amended on acceptance by the Seller of an offer for any other amount than that recorded herein.
3. Duration
The Exclusive Sole Mandate shall be in force from this start date and time:
And shall remain in force until midnight on (end date):
The Seller acknowledges that he shall not be entitled to appoint any other agent or agency during this period.
4. Commission
The Seller shall be liable to pay commission to the agent at a rate of 7,5%, plus VAT, of the selling price achieved, in the event that:
- The property is sold during the mandate period, whether by the agent, the Seller or another person;
- The Seller grants any other agent or agency any other mandate in respect of the property during the currency of this mandate, in terms of clause 3 above;
- The property is sold within 90 days after termination of the mandate period to a person introduced to the property during the mandate period.
5. Cancellation
The Seller shall be entitled to cancel this mandate on 20 (Twenty) business days written notice to the Agent. In the event of the Seller terminating this mandate prior to the expiry thereof, the Seller shall be liable to pay the agent a reasonable cancellation fee for services rendered and expenses or disbursements incurred.
6. Direct Marketing
In the event that this mandate is the result of direct marketing by the agent, whether by virtue of a personal approach or e-mail correspondence, the Seller shall be entitled to withdraw this mandate on written notice to the agent within 5 (Five) days after signature hereto.
7. Value Added Tax
The Seller declares that they are / not a VAT vendor (*delete where N/A). The Seller records being aware that the above-mentioned selling price will be inclusive of VAT if not specified to the contrary and that VAT will be deducted from the selling price if the property forms part of a VAT registered enterprise.
8. Known defects
The Seller acknowledges their obligation to disclose to all prospective purchasers all known defects in the property, irrespective of whether such defect will affect the value or potential sale of the property. Save for such defects of which the Seller is aware and which they are obliged to disclose, the property will be sold as it stands (“voetstoots”) with all visible and invisible defects. To that end, the Seller records and warrants that they are aware of only the defects recorded in the attached Declaration of Property Report, which obligation to disclose will be further addressed in the Agreement of Sale.
9. Signed for the Seller
Signed on this date and venue:
Name and Signature of Seller 1, duly authorised:
Name and Signature of Seller 2, duly authorised:
10. Accepted by the Agent
- Name of Agent:
- Fidelity Fund Number of Agent:
- Mobile number of Agent:
- Signed for the Agent:
Copy to be handed to Seller.