Legislation passed by the government.

Attachment to an offer of purchase / Also referred to as the Agreement of Sale or Offer to Purchase. Afrikaans - Koopkontrak

The monthly cost that the bank charges to facilitate the adminastration of a bond account (An agreement between the customer and a bank in the form of a homeloan, whereby the property is used as the security for the loan. It is a legal document that pledges a property to the lender as security for payment of a debt. Afrikaans - Verband

An analysis of a buyers income, A person's long-term and short-term financial obligations. Afrikaans - Aanspreeklikheid

Also referred to as the Offer to Purchase. It is a legally binding document signed by the buyer and seller, whereby the buyer agrees to buy a property from the seller, who agrees to sell the property to the buyer for a proposed purchase price and A clause that renders the operation and consequences of the contract as a whole dependent on an uncertain future event. A suspensive condition suspends the operation of the contract for a period of time, subject to the occurrence of a future event, and only if and when the condition has been fulfilled will an enforceable contract exist. In the case where a resolutive condition is stipulated, the contract is immediately binding and will remain binding unless the condition is not fulfilled. Afrikaans - Toestand

The Alienation of Land Act 68 of 1981 governs the alienation (selling, exchanging or donating) of Land and everything that is permanently attached to it. Afrikaans - Onroerende Eiendom

 Loan payment by equal periodic payments calculated to pay off the mortgage at the end of a fixed period.

The length of time required to repay the mortgage loan, expressed as a number of months.

An agreement entered into by parties prior to getting married, they will then be married out of community of property.

An estimate of the value of property, made by a qualified professional called an "appraiser" or "valuator".

Procedure whereby parties to a dispute appoint an arbitrator, whose decision is final and binding, to settle the dispute.

The bank’s assessed valuation of the property.

What you own. Movable and immovable property plus investments such as shares; and all other belongings.

An agreement concluded between the members of a close corporation, which states the contractual capacities and responsibilities of the members.

The specific attorneys on behalf of a specific bank who are allocated to do registrations on behalf of specific bank. As a rule only attorneys on a banks approved panel are allowed to act for tha bank in respect of the registration and cancelation of bonds.

Method of selling a property to a person who makes the highest bid. Also read our informative article on buying property on auction.