Posted: January 24th, 2022

Covering letter received from Dean’s Real Estates together with copy of the sale agreement; essay

Question
Our client, VINCENT DAVID ANGUS, sold his property situate at 58 Bulrush Street, Sea View, Durban, to certain JOHN ERNEST YOUNG. The sale was concluded through an Estate Agency known as Dean’s Real Estates.
You have –

Covering letter received from Dean’s Real Estates together with copy of the sale agreement; 2. Copies of identity documents of both parties; 3. Original Deed of Transfer No. 4084/1952; 4. Set of blank preliminary transfer documents; 5. Blank draft deed of transfer, 6. Discharge figures received from bondholder; 7. Letter received from Steyn & Laubscher.
Please :
a) Reply to the letter received from Dean’s Real Estates and give them our undertaking to keep them covered for their selling commission in the sum of R60 800,00 (inclusive of VAT) on registration of transfer and upon receipt of funds; b) Prepare a pro-forma account in respect of our transfer costs. (NOTE: Annual rates payable to the eThekwini Municipality is the sum of R7 143,00 per annum). c) Prepare all transfer documents (including draft deed). Remember to reflect – i) Correct descriptions of parties; ii) Correct property description and extent of property (read endorsements on holding deed). iii) Conversions of extents where necessary. d) Reply to Steyn & Laubscher’s letter we will be instructing Thompson Young & Sons to attend to lodgment of our transfer documents in Pietermaritburg and John E Wilson & Company will be instructing Lister Small & Associates to attend to cancellation of Stronghold Bank Investments Limited’s existing bond.
Personal details of seller and purchaser :
i) Income tax reference numbers of: Mrs Angus 1223/0234/24/9 Mr Angus 1342/0316/25/6 ii) Income tax reference numbers of : Mrs Young 1242/0451/63/9 Mr Young 2431/7114/7f/6
Purchaser intends using property as primary residence.
Estate agent’s VAT registration number is 434716 0312
Municipal valuation of property is: R 613 021,00

Question

VINCENT DAVID ANGUS, our client, sold his home at 58 Bulrush Street, Sea View, Durban, to JOHN ERNEST YOUNG. Dean’s Real Estates, a real estate agency, handled the transaction.
You’ve got –

Dean’s Real Estates’ covering letter, along with a copy of the sale agreement; 2. Copies of both parties’ identification documents; 3. Deed of Transfer No. 4084/1952; 4. Blank preliminary transfer documents; 5. Blank draft deed of transfer; 6. Discharge figures obtained from bondholder; 7. Letter from Steyn & Laubscher

Please note:

a) Respond to Dean’s Real Estates’ letter and assure them that they would be covered for their selling commission of R60 800,00 (including of VAT) on the property.

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