Mandates, Mandatory Disclosure Forms, OTP, Clauses, Addendums and the Code of Conduct 2024

Mandates and Mandatory Disclosure and the Code of Conduct

The party’s to the mandate

• Sellers
• Company

Types of mandates

• Open / non-exclusive
• Joint  
• Sole ‍

‍Options for marketing

• ‍‍Only the listing agent
• Office sharing
• Mini listings
• Listing Group (ML / Maxi listing)

Applicable Acts and By-laws

• CPA
• FICA
• POPIA
• City of Cape Town bylaws  
• COVID19
• PPA / PPR  
• Code of Conduct (PPRA)

Elements of the Mandate

• Identify Property
• Identify Parties (Authority to sign)
• Starting & End date
• CPA declaration (5 days cooling off)
• Asking price
• Commission  
• Undertaking by Seller
• Undertaking by Property Practitioner  
• Declare registration with PPRA
• Defects disclosure
• For Sale / Sold / On show boards
• POPIA clause
• Declare an explanation of the mandate document

Addendums to Mandate

• Mandatory - FICA
• Mandatory – Condition disclosure SELLERS

Optional documents – Not part of Mandate

• Fixtures Fittings  
• Levy Statements
• Municipal account
• Building plans
• Complex rules
• Complex financials/minutes of the last meeting

Please send an e-mail to koti@maxilisitng.co.za for more information.

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The OTP, Clauses and Addendums -  Code of Conduct 2024

What do the Law (PPA & PPR) and the PPRA expect from Property Practitioners regarding Offer to Purchase & Addendums?We focus on:

·      5 Elements of an Offer to Purchase

·      Important clauses to add and explain.

·      What makes a valid offer?

·      Parties to the contract and the role of a property Practitioner (use the OTP to build Trust)

·      OTP in line with PPRA, PPA, PPR, The Code of Co and other applicable acts.

·      Deceased Estates

•          How to write clauses and addendums.

Everybody in the property industry is welcome!

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Please send an e-mail to koti@maxilisitng.co.za for more information.