PEPB Terms & Conditions
TERMS AND CONDITIONS
1. Introduction
Welcome to PE Property Buyers.
These Terms and Conditions govern your use of the PE Property Buyers website and the submission of property or investor information through the website.
By using this website or submitting information through any of our online forms, you acknowledge that you have read and accepted these Terms and Conditions.
2. About PE Property Buyers
PE Property Buyers operates as a property acquisition and investment platform through which property owners may submit properties for consideration as potential investment opportunities.
PE Property Buyers works with a network of property buyers and investors with differing investment criteria, property requirements and acquisition strategies.
The submission of a property does not constitute the appointment of PE Property Buyers as the property owner’s estate agent, nor does it create a mandate for PE Property Buyers to market the property on behalf of the property owner.
3. Our Role
PE Property Buyers does not accept mandates from property owners to advertise or market their properties to the general public.
Properties submitted to PE Property Buyers are assessed as potential acquisition or investment opportunities.
As part of this process, PE Property Buyers may:
- obtain information concerning the property;
- conduct an initial desktop assessment;
- arrange for the property to be inspected;
- take photographs and obtain relevant property information with the owner’s permission;
- prepare a Property Opportunity Report;
- assess whether the property may be suitable for particular acquisition or investment criteria;
- make information concerning the opportunity available to selected property buyers or investors;
- receive and communicate expressions of interest or offers arising from the process; and
- assist with the exchange of information necessary for an accepted transaction to proceed.
The property owner remains responsible for deciding whether to accept or reject any offer.
Nothing contained on this website should be interpreted as PE Property Buyers undertaking to act as the property owner’s estate agent, fiduciary, financial adviser, attorney or representative.
4. No Seller Mandate
Submitting a property through this website does not constitute an estate agency mandate or an instruction to PE Property Buyers to sell the property on the owner’s behalf.
Unless expressly agreed otherwise in writing, a property owner:
- does not appoint PE Property Buyers as his or her agent;
- remains free to sell the property independently;
- remains free to approach other purchasers;
- remains free to appoint an estate agent or other property professional; and
- may accept or reject any offer received through the PE Property Buyers process.
No exclusivity arises merely from submitting a property to PE Property Buyers.
5. No Commission Payable by Property Owners
PE Property Buyers does not charge property owners estate agency commission for submitting a property for consideration through this platform.
No commission or fee becomes payable by a property owner merely because:
- a property is submitted;
- an assessment or inspection takes place;
- a Property Opportunity Report is prepared;
- an opportunity is considered by buyers; or
- an offer is received and declined.
Should any separate service ever attract a fee, that fee must be expressly disclosed and agreed to in writing before the relevant service is provided.
6. Property Assessments
Any assessment, opinion, market observation, price indication or other information provided through the PE Property Buyers process is intended to assist in evaluating the property as a potential acquisition or investment opportunity.
Unless expressly stated otherwise in writing, it does not constitute a formal property valuation and should not be relied upon as one.
Property owners who require a formal valuation for legal, financial, taxation, deceased-estate or other purposes should obtain advice from an appropriately qualified professional.
7. Property Opportunity Reports
PE Property Buyers may prepare a Property Opportunity Report containing information including photographs, property characteristics, condition, improvements, location information, available plans and other information relevant to prospective buyers.
By allowing an inspection or supplying information, the property owner authorises PE Property Buyers to use that information for the purpose of assessing the property and presenting the investment opportunity to selected potential buyers.
Property Opportunity Reports are not intended for general public advertising unless the property owner separately agrees otherwise.
8. Cash and Non-Bond-Dependent Offers
References on this website to “cash offers” include offers that are not dependent upon the purchaser obtaining a conventional residential home loan as a suspensive condition.
The source and structure of a purchaser’s funding may differ from transaction to transaction.
PE Property Buyers does not guarantee that:
- every property will receive a cash offer;
- every property will receive an offer;
- more than one offer will be received;
- an offer will equal the property’s open-market or retail value; or
- any particular purchaser will ultimately complete a transaction.
The terms of the written offer and eventual sale agreement will determine the purchaser’s obligations.
9. 48-Hour Offer Objective
Where this website refers to offers being obtained within 48 hours, the period runs from completion of the property assessment and receipt of the information reasonably required to present the opportunity to suitable buyers.
The 48-hour period is an objective and not a guarantee.
Certain properties or circumstances may require additional investigation or information before an offer can be made.
10. Investment Offers and Market Value
Property owners acknowledge that property investors acquire properties for commercial purposes and may take into account matters including:
- renovation or repair costs;
- transaction costs;
- holding costs;
- financing costs;
- property condition;
- rental returns;
- development potential;
- risk;
- required investment return; and
- anticipated resale value.
An investor’s offer may therefore be below what the property might potentially achieve if marketed conventionally on the open market.
Property owners remain free to reject any offer and pursue a traditional open-market sale instead.
11. No Obligation to Accept an Offer
There is no obligation to accept an offer merely because a property has been submitted, inspected or assessed.
No sale is concluded until the parties have entered into a valid written agreement complying with applicable South African law.
Property owners should carefully consider the price, terms and conditions of any offer before accepting it.
12. Independent Advice
PE Property Buyers encourages property owners to obtain independent professional advice where appropriate.
This may include advice from an attorney, accountant, tax practitioner, registered property practitioner, financial adviser or other suitably qualified professional.
Nothing contained on this website constitutes legal, tax or financial advice.
13. Conveyancing and Transfer
Where an offer is accepted, transfer of ownership will be attended to by the conveyancing attorney appointed in accordance with the sale agreement.
PE Property Buyers may assist with communication and the provision of information during the transfer process but does not perform conveyancing services and does not replace the appointed attorneys.
The rights and obligations of the seller and purchaser are determined by the signed sale agreement and applicable law.
14. Compliance Certificates
PE Property Buyers considers properties in various conditions, including properties where compliance certificates have not yet been obtained.
A property owner is not required to obtain compliance certificates merely in order to submit a property to PE Property Buyers for consideration.
Responsibility for any electrical, electric-fence, gas, water/plumbing or other certificate required in connection with an eventual transaction will be determined by applicable law and the terms of the written sale agreement.
Nothing on this website should be interpreted as overriding any statutory compliance requirement.
I would use this formulation rather than an absolute legal statement that sellers “never need COCs.” It preserves your commercial proposition without pretending a website can contract out of legislation.
15. Properties Subject to Bonds, Arrears or Legal Proceedings
PE Property Buyers may consider properties that are:
- subject to an existing mortgage bond;
- in arrears;
- subject to debt-recovery proceedings;
- subject to foreclosure proceedings; or
- scheduled for sale in execution or auction.
Property owners should contact us as early as possible where legal proceedings are already underway.
Previous experience in assisting with distressed transactions does not guarantee that a bank, creditor, sheriff, attorney or court will agree to postpone or cancel an auction or other enforcement process.
Nothing communicated by PE Property Buyers should be interpreted as legal advice or as a guarantee that legal proceedings can be stopped.
16. Advances Before Transfer
In certain transactions, arrangements may potentially be available for funds to be advanced before registration of transfer.
Any such arrangement:
- is subject to the circumstances of the particular transaction;
- is not guaranteed;
- may require approval by third-party service providers or attorneys;
- will be subject to separate written terms; and
- may involve costs which must be disclosed before the property owner agrees to the arrangement.
No statement on this website constitutes an unconditional promise to provide bridging finance or an advance.
17. Occupation Arrangements
Where appropriate, a purchaser and seller may agree that the seller remains in occupation for a period after conclusion of the sale or transfer.
Any occupation period, occupational rental, reduced rental or other arrangement must be expressly recorded in the relevant written agreement.
PE Property Buyers does not guarantee that a particular buyer will agree to any requested occupation arrangement.
18. Information Provided by Property Owners
Property owners are responsible for ensuring that information supplied to PE Property Buyers is accurate to the best of their knowledge.
Property owners should disclose material information that may reasonably affect a prospective purchaser’s decision, including known defects, occupation arrangements, leases, disputes or other material circumstances.
PE Property Buyers may rely upon information supplied by property owners and other available sources when preparing information for potential buyers.
19. Mandatory Property Disclosures
Where the Property Practitioners Act or any other applicable legislation requires a prescribed disclosure document in connection with a particular transaction, the relevant statutory requirements must be complied with.
Nothing in these Terms and Conditions is intended to exclude or circumvent a disclosure obligation imposed by law.
This is worth including because section 67 of the Property Practitioners Act imposes specific mandatory-disclosure requirements where a property practitioner accepts a mandate, and the PPRA maintains a prescribed disclosure template.
20. Buyer Network
PE Property Buyers maintains a network of property buyers with differing acquisition criteria.
Acceptance of an investor application is at the discretion of PE Property Buyers.
Submitting an investor application:
- does not guarantee admission to the network;
- does not guarantee access to property opportunities;
- does not create any entitlement to receive opportunities;
- does not guarantee exclusivity; and
- does not oblige PE Property Buyers to disclose the identity of property owners or other network participants.
PE Property Buyers may suspend or terminate a buyer’s access to opportunities at its discretion.
21. Buyer Confidentiality
Property information supplied to buyers is provided for the purpose of evaluating potential acquisitions.
Buyers must treat non-public seller and property information confidentially and may not use such information for unrelated purposes.
PE Property Buyers may require investors to accept additional confidentiality or participation terms before receiving detailed opportunities.
For your model, I would actually have a separate Investor Network Agreement as well. The website T&Cs aren’t enough protection for your buyer database and property pipeline.
22. Privacy and Personal Information
PE Property Buyers processes personal information in accordance with its Privacy Policy and applicable South African data-protection legislation.
Information supplied by a property owner may be shared with selected potential purchasers and professional service providers where reasonably necessary to assess or progress a potential transaction.
Information will not knowingly be made publicly available merely because a property has been submitted through this website.
Users should refer to the Privacy Policy for further information regarding the collection, use, storage and disclosure of personal information.
23. Website Information
PE Property Buyers takes reasonable steps to ensure that information published on this website is accurate and current.
However, website content is provided for general information and may be changed without notice.
Nothing published on the website constitutes a binding offer by PE Property Buyers or any member of the buyer network to purchase a property.
24. Third-Party Professionals
PE Property Buyers may interact with attorneys, property professionals, contractors, finance providers and other third parties in connection with potential transactions.
Unless expressly stated otherwise, those parties are independent service providers and are responsible for the professional services they provide.
Any person requiring professional advice should establish the capacity in which the relevant professional is acting and obtain independent advice where appropriate.
25. Property Practitioners Act
PE Property Buyers intends to operate as a property acquisition and investment platform rather than as an estate agency appointed by property owners to market their properties.
Nothing in these Terms and Conditions is intended to exclude, avoid or contract out of the Property Practitioners Act 22 of 2019 or any other applicable legislation.
Where any activity undertaken in connection with a transaction is required by law to be performed by a registered property practitioner or other appropriately authorised professional, that activity must be performed in accordance with the applicable legal requirements.
I strongly prefer this to saying “PE Property Buyers is not a property practitioner.” The PPRA currently expressly identifies facilitators and intermediaries among categories that can fall within the property-practitioner regime.
26. No Trust Money
Unless expressly agreed otherwise in writing and permitted by applicable law, PE Property Buyers does not receive or hold purchase deposits, sale proceeds or other trust monies on behalf of sellers or purchasers.
Any deposit or other amount required under a sale agreement should be paid to the account specified in that agreement, ordinarily the appropriate trust account of the appointed conveyancing attorney or other authorised recipient.
This clause is particularly worthwhile. Trust-money handling creates a significant additional regulatory issue: section 54 regulates property-practitioner trust accounts, while the PPRA provides a formal exemption mechanism for qualifying practitioners that do not receive trust monies.
27. Limitation of Liability
To the fullest extent permitted by law, PE Property Buyers will not be liable for loss arising solely from:
- a property owner declining or accepting an offer;
- a purchaser withdrawing where legally entitled to do so;
- delays caused by banks, attorneys, municipalities, government authorities or other third parties;
- inaccurate information supplied by a user or third party; or
- a property failing to attract an offer.
Nothing in these Terms excludes liability which cannot lawfully be excluded under South African law.
28. Changes to These Terms
PE Property Buyers may amend these Terms and Conditions from time to time.
The version published on the website at the relevant time will apply to use of the website, subject to any rights or obligations already created by a separately concluded written agreement.
29. Governing Law
These Terms and Conditions are governed by the laws of the Republic of South Africa.
Any dispute arising from the use of this website will be subject to the jurisdiction of the appropriate South African courts.
30. Contact
Questions concerning these Terms and Conditions may be directed to:
PE Property Buyers
Jimmy: +27 61 368 9068
Email: jimmy@pepropertybuyers.co.za