Empowering Sellers: Know Your Property Rights

04 June 2024 30273

As a property owner, you hold certain rights that are crucial to understand throughout the transaction process. Allow us to highlight some of these exciting rights:

1.      Right to Nominate the Conveyancer: You have the primary right to nominate the conveyancer who will handle the legal process of transferring the property. This can be a fantastic opportunity to ensure you have someone you trust guiding you through the process.

2.      Right to Payment: Sellers have the right to receive payment of the purchase price as stipulated in the sale agreement. We'll work with you to ensure the purchase price is secured in a manner that gives you peace of mind.

3.      Right to Remain in Possession Until Transfer: Typically, sellers have the right to remain in possession of the property until the transfer is officially registered in the buyer's name. It's your space until everything is finalized!

4.      Right to Claim for Damages or Breach of Contract: Should the buyer fail to comply with the terms of the agreement, you have the right to claim damages or seek remedies for breach of contract. Your interests are protected.

5.      Right to Cancel the Contract under Certain Conditions: Depending on the contract terms, sellers may have the right to cancel the sale if specific conditions aren't met by certain deadlines. Flexibility is key.

6.      Right to Retain the Deposit: In cases where a deposit is paid and the buyer defaults, sellers might have the right to retain the deposit as liquidated damages. It's your security.

These rights are designed to protect your interests and ensure a smooth transaction process. Understanding them thoroughly and drafting clear, comprehensive sales agreements is essential for a seamless experience.

If you have any questions or need further assistance, don't hesitate to reach out to us. We're here to provide guidance and support every step of the way.

Feel free to contact us at 011 748 4500 or info@janljordaan.co.za, and one of our friendly team members will be delighted to assist you.

Remember, BE THE CHANGE!

Related Expertise: Property Transfer