What is this “voetstoots”? If the property is sold voetstoots, the buyer buys the property with all its defects.
- If the property is sold voetstoots, the seller need not improve the property in any way before delivering it to the buyer, except where the law provides that every property must meet certain basic criteria. (See the discussion on compliance certificates.)
- Usually the seller must maintain it in the same condition it was at the time of sale, until transfer of ownership. Check what the agreement provides.
- The buyer is expected to know everything that can be found out about the property from a very thorough investigation of the physical and legal aspects of the property. The agent has certain duties to investigate details about the property and inform the buyer, but there is no substitute for a thorough investigation by the buyer.
- The seller should tell the buyer about any problems with the property that the buyer cannot know from a careful investigation. It is best to do this in the agreement. This protects the seller from claims by the buyer and helps the buyer to understand what is being bought.
- The buyer must beware! Take some time to look around thoroughly and ask questions.
- Under the “typical clauses” section, read the portions called “due diligence” and “voetstoots”. This will help you understand what you should know before you buy.
