Terms & Conditions
PropertyFox Terms & Conditions
Payment terms and conditions:
SA Online Property Fox (Pty) Ltd
(hereafter referred to as “PropertyFox”)
The seller will pay PropertyFox a commission-based fee at the rate of 1,5% per centum, plus Value Added Tax on the commission, or R35 000 plus Value Added Tax, whichever is higher, at the conclusion of a successful sale through PropertyFox. The said commission shall be deemed to have been earned upon the signature of the agreement of sale by the purchaser and the seller and is payable upon the registration of transfer or upon cancellation by reason of the seller’s or purchaser’s default (breach). No commission is earned if the home is not sold. In the event of the sale being cancelled or transfer not being implemented then the defaulting party shall be liable to PropertyFox for the payment of the Commission. In the event of the agreement being cancelled by mutual agreement, the Seller and Purchaser shall be jointly and severally liable to pay the commission to the agency.
The Seller specifically records that PropertyFox will be regarded as the effective cause of the sale in the event that a Purchaser, or any related person (as defined in the Income Tax Act) or any person otherwise related to the Purchaser that was directed to the property or to him/her/it through their website (as recorded) purchases the property no matter when such sale takes place.
A PropertyFox Registration Fee of R2500 plus Value Added Tax is payable upfront. This fee will be deducted from the commission payable from the proceeds of your successful sale with PropertyFox. The fee is non-refundable and covers the seller for services for a period of six months after which the mandate will need to be renewed. The only time this fee is independently charged is if you withdraw your listing/cancel your mandate, for whatever reason other than a sale through PropertyFox.