Buying Information

Promise of Sale

Upon selecting a property, the buyer enters into a 'promise of sale' agreement with Hal Mann. This is valid for three months unless otherwise stipulated. At this point an amount equivalent to 1% stamp duty is paid by the buyer and held by the notary as well as a 10% deposit on the total purchasing price.

Notarial investigations and bank loans

Within the three months or within the term agreed in the promise of sale, the buyer's notary will research the history of the site and validity of sale. The notarial fees are at the client's expense. Should a loan be required a bank's sanction letter will be required within one month of signing agreement - this letter confirms that the bank is willing to offer the loan to the client. All bank charges are at client's expense.

Contract

Upon expiry of the promise of sale, both parties sign a public deed that will be duly registered by the notary in the public registry. The balance due is also paid at this point, together with a further 4% stamp duty on the sale.