Signing the Right Way
Category Legal
Exciting or daunting? Signing a legally binding contract may not be a walk in the park, but if done correctly, signing your Offer to Purchase (OTP) can be such an exciting step in the buying process.
There are a few checks to do during the signing process, let's look at a quick overview:
Know Your T's & C's
It is imperative that before signing the OTP, you read and understand the terms and conditions of the sale. Pay special attention to the fixtures' list which is generally attached as an annexure. This is a list of what is included or excluded with the sale of the home, such as curtain rods or blinds. Make sure you understand which fixtures are included and whether they are in working order or not.
Ask Questions
This is not the time to be shy in asking questions. Your real estate agent is there to help guide you. Ask your agent what a clause means, such as the 72-hour clause, or what occupational rent and the occupation date is. You do not want to be in a situation where your house is sold and you need to move out, and your occupation date is only in 30 days' time...you might end up having to stay in a guesthouse and rent extra storage space if this is not planned perfectly.
Sign Every Page
Be sure to sign every page of your OTP. Legally, an OTP can be rejected or the sale process delayed because it has errors in the fulfilment of signing. Always check every page again to make sure you initialled and signed where necessary. Thankfully our real estate agents are very good at going through the contracts with a fine comb and will assist you in this process, however it is always wise to do your own due diligence.
Don't Copy & Paste
We are currently in the digital age so when it comes to signing an OTP, certain programmes such as Adobe allows you to sign any PDF document with merely a "copy and paste" signature option. Legally, however, the cut and paste of a signature for purposes of sale of immovable property is not allowed.
One can understand that due to safety precautions, an individual cannot copy and paste the same digital signature on every page as anyone could have gotten a hold of the signature and therefore the identity of the user has not been verified. Although frustrating, this process is there to protect both buyer and seller.
This does not mean that you can't sign an OTP electronically. You may digitally draw your signature by using a stylus or similar hand movement if each page is uniquely signed by hand or use of stylus! This means you can sign an OTP from another country and still ensure you get your dream home.
Nothing is more frustrating than losing the house of your dreams due to a small error in the contract. Be sure to dot your i's and cross your t's to secure your new home! After all, the process should be exciting and not frustrating.
Read more: The 72-Hour Clause
Written by: Hayley Kellerman
Author: Louw & Coetzee Properties
