Property transactions have to be in writing.

 Property transactions have to be in writing.

It cannot be stressed too often, for a property contract to be legally binding; it always has to be in writing and signed by both parties. This, says Rowan Alexander, Director of Alexander Swart Property, is generally accepted and understood by most people involved in a property deal. Nevertheless disputes and arguments quite frequently occur and the reason for these he says, is time and again that during or after the transaction the buyer and seller may have VERBALLY agreed on something but has failed to put it into writing. For example, a seller may have agreed that certain water storage tanks will be included in the deal, but then removes one of the smaller tanks: his understanding of the verbal agreement was different from that of the buyer. Or a seller may have agreed to leave behind his Jacuzzi - but did not mention, or was unaware that it was not in working order.

Even when all fittings and fixtures have been listed and form part of the property sale signed by both parties, imprecise or insufficiently detailed wording, says Alexander, can again lead to misunderstandings. A good estate agent will insist on reading through the sale agreement in full, with both the seller and buyer, before they sign. A good agent will take great care to see that they both interpret all information therein in the same way. If it can be later shown that none or one party did not grasp the full meaning or implications of the deal, it is possible that the attorney and\or the agent could be held liable under the Consumer Protection Act.

"This has very seldom happened," says Alexander, "but we regularly do come across cases in which informal agreements, NOT put in writing, lead to conflict. My warning, therefore, to all involved in property deals is: get EVERY point agreed on in writing and make sure the other party has signed it. There is no problem with making sale agreements more comprehensive. Do not take any chances at all. Ensure that what you discussed, possibly without much thought, is written in the sale document. "

 For further information, contact Rowan Alexander on 082 581 3116 or by email: rowan@aspropery.co.za.