The Real Estate Disclosure Agreement (Real Estate) is a mandatory document in South African property transactions, required under the Property Practitioners Act 22 of 2019 and supported by consumer protection legislation. This document is used when transferring residential or commercial property ownership, requiring sellers to disclose all known defects and material facts about the property. It protects both parties by ensuring transparency and reducing the risk of future disputes. The agreement must be completed before concluding a sale agreement and typically includes detailed information about the property's condition, past repairs, compliance certificates, and any issues that could affect the property's value or the buyer's decision to purchase. It forms a crucial part of the property transaction documentation in South Africa and can be used as evidence in legal proceedings if disputes arise.
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1. Parties: Identification of the seller, purchaser, and any agents involved in the transaction
2. Background: Context of the disclosure agreement and property transaction
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including physical address, erf number, and size
5. Seller's Knowledge and Disclosure: Seller's declaration of knowledge regarding property conditions and confirmation of truthful disclosure
6. Property Condition Disclosures: Comprehensive disclosure of known defects, repairs, and material facts about the property's condition
7. Statutory Compliance: Declarations regarding compliance with building regulations, zoning laws, and other statutory requirements
8. Known Defects: Specific listing of all known defects, past repairs, and ongoing issues
9. Utilities and Services: Status and condition of electrical, plumbing, heating, and other utility systems
10. Acknowledgment: Buyer's acknowledgment of receiving and understanding the disclosures
11. Disclaimer: Limitations of the disclosure and seller's liability
12. Signatures: Execution section for all parties to sign and date the agreement
1. Environmental Matters: Disclosures about environmental issues like contamination, wetlands, or protected species - required when relevant environmental factors exist
2. Body Corporate/HOA Information: Details about body corporate rules, levies, and governance - required for sectional title properties
3. Heritage Status: Information about heritage protection status and restrictions - required for heritage properties
4. Occupancy Status: Details about current tenants or occupants - required if property is currently leased
5. Recent Renovations: Information about recent modifications or improvements - required if property has been renovated in past 5 years
6. Insurance Claims History: Disclosure of past insurance claims - required if there have been significant claims
7. Boundary Disputes: Information about any current or past boundary disputes - required if applicable
1. Schedule A - Property Condition Report: Detailed report on the current condition of all aspects of the property
2. Schedule B - Defects List: Itemized list of all known defects with descriptions and photographs
3. Schedule C - Compliance Certificates: Copies of all relevant compliance certificates (electrical, gas, electric fence, etc.)
4. Schedule D - Property Plans: Approved building plans and site diagrams
5. Schedule E - Maintenance Records: History of maintenance work and repairs carried out
6. Appendix 1 - Photographs: Recent photographs documenting property condition and specific issues
7. Appendix 2 - Expert Reports: Any specialist reports obtained (structural, geological, pest, etc.)
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