How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask CaseLaw Your Own Question
CaseLaw
CaseLaw, Attorney
Category: South Africa Law
Satisfied Customers: 1290
Experience:  BCom; LLB; Masters in Law
31036262
Type Your South Africa Law Question Here...
CaseLaw is online now
A new question is answered every 9 seconds

My name is ***** ***** Barnard, My ex Spouse has signed an

Customer Question

My name is ***** ***** Barnard, My ex Spouse has signed an offer to purchase with a prospective buyer on his property for 2.3 Mill. He no longer wants to sell. The offer includes the 72 hour clause, and the sale of the buyers property. He has also signed a sole mandate with the agent. He has asked me to put in an offer for R50 000 to purchase the property and force the seller to commit to the 72 hour clause. Is this possible and can he accept such a reduced price.?? Please comment, how much commission can the estate agent claim.
JA: Thanks. Can you give me any more details about your issue?
Customer: No cant think of anything else at present. Thank you
JA: OK got it. Last thing — Lawyers generally expect a deposit of about $18 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 7 months ago.
Category: South Africa Law
Expert:  CaseLaw replied 7 months ago.
Hi there and thank you for your question,I will try to assist you with your legal question but please feel free to ask as many follow up questions as you like until you are 100% satisfied.The 72 hour clause is a "meet or beat clause" which says that IF your ex-spouse gets a second offer for MORE than the first offer, AND the second offer is a cash offer, then he can put the first purchaser to terms to remove the suspensive condition from the agreement or walk away from the deal.You would need to put in an offer for R2,350,000.00 if you wanted to do that. You do however run the risk that if the purchaser finds out about this "fraud" then he could sue your ex-spouse for damages! The estate agent would also have a claim for his/her brokerage from your ex-spouse, so watch out for that as well! The agent would have a claim for the FULL brokerage agreed upon. If that was 5% plus VAT, it would be R131,100.00. In my opinion the 72 hour clause is NOT going to assist your ex-spouse to get out of the deal. The best clause which would assist is the "subject to the sale of the purchaser's property", but there is nothing that your ex-spouse can do besides wait.If my answer hasn't answered all of your questions, please send me a REPLY with follow up questions so that I can continue to assist you in this same thread for as long as you need. Let me know if you need more advice - dont just rate my answer as "bad".If my are HAPPY with my answer then please click one of the STAR ratings or the SMILEY FACES to rate my answer! Good luck and best regards,CaseLaw
Customer: replied 7 months ago.
Thank you for your reply. I suspected that he could only do that on a cash price for an increased amount. There was no intention of fraud, as the property would have been legally sold and registered into my name. Thank you for clarifying that an increased offer is required. Is there any possibility of him withdrawing as the sellers now want to sue him, although their property has not been sold and no other offers have been received. How can he go about withdrawing with least expence??
Expert:  CaseLaw replied 7 months ago.
If the purchaser's property is not yet sold, my advice would be to wait to see if it is sold before your ex-spouse withdraws from the sale agreement. If their sale falls through, then this sale will also fall through - and he can't be sued.If he withdraws for no reason, he can be sued.He has signed an agreement - a legally binding agreement - and he needs to comply with it. I don't know what else to say.
Customer: replied 7 months ago.
Can you confirm that he does not have to accept any higher offer from the estate agent in the meantime?
Expert:  CaseLaw replied 7 months ago.
No, your ex-spouse is NOT obliged to accept any higher offer from the estate agent. He CAN accept a higher offer, but there is absolutely NO obligation on him to do so. He might not like the second guy's face. Any reason.
Customer: replied 7 months ago.
Thank you for your reply.
Expert:  CaseLaw replied 7 months ago.
Hi there again,I see that you've read my answer and I hope that you understood the answer and that it was useful? If you have a further question please ask it, or if you need clarity on the answer please let me know.If you're happy that I've answered your question, please leave positive feedback for me.RegardsCaseLaw
Expert:  CaseLaw replied 7 months ago.
Hi there again,I see that you've read my answer and I hope that you understood the answer and that it was useful? If you have a further question please ask it, or if you need clarity on the answer please let me know.If you're happy that I've answered your question, please leave positive feedback for me.RegardsCaseLaw