"If you don't like where you are, move. You are not a tree" (Jim Rohn)
The upcoming festive season, with its mass migrations of happy holiday-makers to their dream destinations, has always been a busy time for both sellers and buyers.
In these hard times however, an increasing number of sellers are feeling pressured to accept offers well under their expectations, so cases of "seller's remorse" are much more likely now than they have been for many years. The question is, just how easy or difficult is it for a seller to escape a sale agreement signed in haste?
Equally common no doubt are sales "subject to the sale of the buyer's property" - for a specified amount and within a specified time period. That raises an important question - must the buyer's transfer actually be registered in the Deeds Office within the deadline period, or is enough that the buyer has signed a sale agreement for his/her property?
A recent High Court decision addressed both those questions, as well as two others relating to defences raised by a seller who changed her mind shortly after accepting the buyer's offer (the judgment doesn't say why she changed her mind, but the fact that a bank offered the buyers a bond of R3.9m suggests that the sale price of R2.6m may have been very low).